3 ms·
The future of Bitcoin mining is oilfield
- retrac 6y ago> It has become increasingly fashionable in recent years to bash oil and gas as being “dirty”, despite there being no actual “cleaner” alternatives that scale or do not rely on fossil fuels and their seemingly endless useful byproducts. I type this from a region where the grid is largely powered largely by a mix of nuclear, wind and hydro. And the power isn't even that expensive here. About 7 US cents per kilowatt. So how can I take this seriously? > apparantly for some people it’s easy to forget that roads are paved in oil Burning fossil fuels is very different from using oil as a feedstock. > The data shows no signs of oil and gas demand slowing, in fact the very opposite appears to be the case as third-world countries propel themselves to first-world Consumption of fossil fuels is falling per capita in most developed countries. Because we've realized they were poisoning us. > Lets also not forget that mining is possibly the easiest “job” on the planet, simply plug a computer in the wall and you’re “working”. So both a Bitcoin and an oil maximalist. What a beautiful synthesis.
- noch 6y ago> I type this from a region where the grid is largely powered largely by a mix of nuclear, wind and hydro. And the power isn't even that expensive here. About 7 US cents per kilowatt. So how can I take this seriously? Wonderful that you have a city running on nuclear! Do you feel that this will scale to the rest of the world within your lifetime, in particular the parts of the world where average energy usage per person is a fraction of that of the average US citizen?