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It's worse than that. Because BTC can be transferred globally, it actually increases demand for the cheapest energy regardless of location. One could easily im
by smt88 6y ago
It'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.