3 ms·

Ugh this is such a tired argument. Energy used to watch TV could be used for something else instead. What is this mystical “something else” which couldn’t be po

Ugh this is such a tired argument. Energy used to watch TV could be used for something else instead. What is this mystical “something else” which couldn’t be powered because Bitcoin was using up all the electricity, and what good fortune would it have brought us?

nostrebored 6y ago
Well this something else is usually just nothing. Demand drives electricity production.
- CapmCrackaWaka 6y ago
  Yes this discussion has happened hundreds of times on HN at this point. > "Bitcoin uses too much energy[1]" > "It's only using surplus energy which would go to waste anyway[2][3]" > "But it still has an environmental impact [4]" I guess I'm just tired of seeing the same things repeated on every single thread about Bitcoin. When I saw a lazy comment like OPs, I overreacted, sorry. [1] https://www.bbc.com/news/technology-56012952#:~:text=Cambridge%20researchers%20say%20it%20consumes,Bitcoin%20undermines%20its%20environmental%20image https://www.bbc.com/news/technology-56012952#:~:text=Cambrid.... [2] https://www.coindesk.com/the-last-word-on-bitcoins-energy-consumption https://www.coindesk.com/the-last-word-on-bitcoins-energy-co... [3] https://www.wsj.com/articles/bitcoin-in-the-wilderness-11553860802 https://www.wsj.com/articles/bitcoin-in-the-wilderness-11553... [4] https://www.cnbc.com/2021/02/05/bitcoin-btc-surge-renews-worries-about-its-massive-carbon-footprint.html#:~:text=Bitcoin%20has%20a%20carbon%20footprint,Netherlands%2C%20Cambridge%20University%20researchers%20say https://www.cnbc.com/2021/02/05/bitcoin-btc-surge-renews-wor....
  - nostrebored 6y ago
    Your articles don't support your stance. I work with people who handle surplus electricity with mobile mining operations -- they're few and far between. The use of bitcoin, a speculative good, as a sink for electricity creates less pressure for grids to manage electricity production (especially as the acceptable spot price trends towards the commercial price of electricity). It also ignores the innovative ideas that are geographically bound like storing potential energy by pumping water into dams. The idea that bitcoin only uses surplus energy is disprovable just by looking at the regularity of block completion. If it were dependent on an irregular source like surplus electricity, you wouldn't see that.
chapium 6y ago
If you are arguing that bitcoin is using a significant amount of overflow hydro power, I'd like to check your sources.

nostrebored 6y ago

Well this something else is usually just nothing. Demand drives electricity production.

CapmCrackaWaka 6y ago
Yes this discussion has happened hundreds of times on HN at this point. > "Bitcoin uses too much energy[1]" > "It's only using surplus energy which would go to waste anyway[2][3]" > "But it still has an environmental impact [4]" I guess I'm just tired of seeing the same things repeated on every single thread about Bitcoin. When I saw a lazy comment like OPs, I overreacted, sorry. [1] https://www.bbc.com/news/technology-56012952#:~:text=Cambridge%20researchers%20say%20it%20consumes,Bitcoin%20undermines%20its%20environmental%20image https://www.bbc.com/news/technology-56012952#:~:text=Cambrid.... [2] https://www.coindesk.com/the-last-word-on-bitcoins-energy-consumption https://www.coindesk.com/the-last-word-on-bitcoins-energy-co... [3] https://www.wsj.com/articles/bitcoin-in-the-wilderness-11553860802 https://www.wsj.com/articles/bitcoin-in-the-wilderness-11553... [4] https://www.cnbc.com/2021/02/05/bitcoin-btc-surge-renews-worries-about-its-massive-carbon-footprint.html#:~:text=Bitcoin%20has%20a%20carbon%20footprint,Netherlands%2C%20Cambridge%20University%20researchers%20say https://www.cnbc.com/2021/02/05/bitcoin-btc-surge-renews-wor....
- nostrebored 6y ago
  Your articles don't support your stance. I work with people who handle surplus electricity with mobile mining operations -- they're few and far between. The use of bitcoin, a speculative good, as a sink for electricity creates less pressure for grids to manage electricity production (especially as the acceptable spot price trends towards the commercial price of electricity). It also ignores the innovative ideas that are geographically bound like storing potential energy by pumping water into dams. The idea that bitcoin only uses surplus energy is disprovable just by looking at the regularity of block completion. If it were dependent on an irregular source like surplus electricity, you wouldn't see that.

chapium 6y ago

If you are arguing that bitcoin is using a significant amount of overflow hydro power, I'd like to check your sources.