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Yes, this is exactly what I thought when I read the other piece. A battery stores energy to use elsewhere. Bitcoin just consumes leftover energy. The fact that
by skywhopper 6y ago
Yes, this is exactly what I thought when I read the other piece. A battery stores energy to use elsewhere. Bitcoin just consumes leftover energy. The fact that it would be able to consume as much energy as we could ever provide to it is not a feature.
- isoprophlex 6y agoNo, BTC doesn't just consume leftover energy. It causes delays in overhauling our energy grid. Renewable generation must be paired with storage to get past a certain % of share in the energy mix. BTC mining is analogous to just turning off windmills or solar panels during times of excess production. Presence of BTC miners removes market pressure on grids that make storage feasible. BTC is actively harmful to the environment. Proof of work is an abomination.