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This seems like an extreme case of cognitive dissonance. People who hold bitcoin (or are somehow vested in it) are trying really hard to rationalize the energy
by 1helloworld1 5y ago
This seems like an extreme case of cognitive dissonance. People who hold bitcoin (or are somehow vested in it) are trying really hard to rationalize the energy costs associated with bitcoin. But there is no way to avoid physics. Energy - no matter how it's produced- is lost as heat while mining bitcoins.
- billytetrud 5y agoTell me that again AFTER having actually read the paper.
- AlexandrB 5y agoI don't understand how a paper could contradict basic physics. Energy spent mining bitcoin is energy not spent doing something else. There are other ways to encourage more renewable energy production (e.g. government subsidies) that don't involve taking the resulting energy and turning it to waste heat. Even low-efficiency energy storage methods (like pumping water up a hill) are more efficient than simply turning the excess energy to heat.
- billytetrud 5y agoJesus Christ, well stay ignorant then. No laws of physics are being violated for chrisake.