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Think about it like this new energy capacity is added that is sustainable but the cryptocurrency mining part of grid keeps consuming and eating more of the grid

Think about it like this new energy capacity is added that is sustainable but the cryptocurrency mining part of grid keeps consuming and eating more of the grid then newly added renewable capacity it would be a wash and we wouldn't achieve sustainability commitments and be able to mitigate climate change. You can't just say well if Bitcoin mining is renewable then we are ok. What about the rest of the grid? They need some of the newly added renewable capacity as well as growth continues. TLDR if new renewable capacity added is less than growth of mining and current use of mining we get no where.

fredfoobar 6y ago
* You are talking as if there is a linear scaling of how much energy is consumed by a "miner" on the fly. This is false. * Most renewable/stranded energy mining operations have their own energy source that is not going to be shared by someone else. * Bitcoin's energy consumption doesn't scale with the number of transactions on each block. * Most of the bitcoin has already been mined, the incentive to "mine aggressively" is decreasing over time. * "What if bitcoin uses all the energy", like the top poster on this thread was talking about, they were mocking it to say that all of the energy generated by the sun will be used for mining eventually, is this a fair argument? If such extremist thinking took hold, we could use it to subdue pretty much all progress. Did we think that there will be gold miners digging up land everywhere and we won't have a place to live?
- fredfoobar 6y ago
  Most of the arguments against, sound like the same arguments against things like cars (vs horses). "Do you think we'll make all those roads just for cars to go on?", "Cars don't work on dirt roads, they get stuck all the time", "What if you run out of gas in the middle of nowhere?" "You will run over people and kill them in an accident" "Cars cause pollution"
  - JoeAltmaier 6y ago
    Making ones own arguments is a great idea. Mocking others is not. Re-read the site rules.
    - fredfoobar 6y ago
      "Rules for thee, but not for me" 1. https://news.ycombinator.com/item?id=26435464 https://news.ycombinator.com/item?id=26435464 2. "Be kind. Don't be snarky. Have curious conversation; don't cross-examine. Please don't fulminate. Please don't sneer, including at the rest of the community." (https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html)
      - JoeAltmaier 6y ago
        I simply pointed them out politely. Any sneering was entirely projected!
blondie9x 6y ago
Bitcoin energy consumption is rising as mining is more competitive and more rewards with rising price. The consumption of bitcoin mining is increasing. Can you stay calm? I am not trying to say lets give up on cryptocurrencies I am saying we need to have serious conversations about energy consumption and controlling mining energy consumption. When people get really defensive and angry it doesn't help. https://digiconomist.net/bitcoin-energy-consumption https://digiconomist.net/bitcoin-energy-consumption
- fredfoobar 6y ago
  I am calm, don't patronize me. look at this comment: https://news.ycombinator.com/item?id=26440168 https://news.ycombinator.com/item?id=26440168 They straight up want destruction, without even considering merits of the new technology.

fredfoobar 6y ago

* You are talking as if there is a linear scaling of how much energy is consumed by a "miner" on the fly. This is false. * Most renewable/stranded energy mining operations have their own energy source that is not going to be shared by someone else. * Bitcoin's energy consumption doesn't scale with the number of transactions on each block. * Most of the bitcoin has already been mined, the incentive to "mine aggressively" is decreasing over time. * "What if bitcoin uses all the energy", like the top poster on this thread was talking about, they were mocking it to say that all of the energy generated by the sun will be used for mining eventually, is this a fair argument? If such extremist thinking took hold, we could use it to subdue pretty much all progress. Did we think that there will be gold miners digging up land everywhere and we won't have a place to live?

fredfoobar 6y ago
Most of the arguments against, sound like the same arguments against things like cars (vs horses). "Do you think we'll make all those roads just for cars to go on?", "Cars don't work on dirt roads, they get stuck all the time", "What if you run out of gas in the middle of nowhere?" "You will run over people and kill them in an accident" "Cars cause pollution"
- JoeAltmaier 6y ago
  Making ones own arguments is a great idea. Mocking others is not. Re-read the site rules.
  - fredfoobar 6y ago
    "Rules for thee, but not for me" 1. https://news.ycombinator.com/item?id=26435464 https://news.ycombinator.com/item?id=26435464 2. "Be kind. Don't be snarky. Have curious conversation; don't cross-examine. Please don't fulminate. Please don't sneer, including at the rest of the community." (https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html)
    - JoeAltmaier 6y ago
      I simply pointed them out politely. Any sneering was entirely projected!

blondie9x 6y ago

Bitcoin energy consumption is rising as mining is more competitive and more rewards with rising price. The consumption of bitcoin mining is increasing. Can you stay calm? I am not trying to say lets give up on cryptocurrencies I am saying we need to have serious conversations about energy consumption and controlling mining energy consumption. When people get really defensive and angry it doesn't help. https://digiconomist.net/bitcoin-energy-consumption https://digiconomist.net/bitcoin-energy-consumption

fredfoobar 6y ago
I am calm, don't patronize me. look at this comment: https://news.ycombinator.com/item?id=26440168 https://news.ycombinator.com/item?id=26440168 They straight up want destruction, without even considering merits of the new technology.