3 ms·
it incentivizes the cheapest energy source... like every other thing that uses energy...
by Black101 6y ago
it incentivizes the cheapest energy source... like every other thing that uses energy...
- smt88 6y agoIt's worse than that. Because BTC can be transferred globally, it actually increases demand for the cheapest energy regardless of location. One could easily imagine it becoming a way for Chinese or Korean coal mines to grow and remain profitable. Aluminum aka "solid electricity" somewhat fills this role as well, but aluminum certainly doesn't travel as quickly as a coin.
- petertodd 6y agoYou realize that's already happening on a much bigger scale. Most of our solar panels - whose manufacturing process is extremely energy intensive - come from China, a country with about 70% of its electricity coming from coal. And of course, the inputs to that manufacturing process are themselves mainly made in China, again with cheap highly polluting coal power.
- smt88 6y agoYes, I realize it's already happening and mentioned aluminum as another example. I don't know how that changes my point, which is that BTC mining is another incentive for the same problem.
- HWR_14 6y agoAluminum is indisputably useful once refined.
- jukabo 6y agoYou don’t have to be near a civilization to take in energy and mine bitcoin. This way your solar farm can pay for itself and then expand to nearby cities.