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I'm willing to bet that Bitcoin mining will be 100% renewable (compared to 40-70% depending on whose numbers you look at today) before ICE vehicles are all gone
by rawtxapp 5y ago
I'm willing to bet that Bitcoin mining will be 100% renewable (compared to 40-70% depending on whose numbers you look at today) before ICE vehicles are all gone. I'm basing this on the fact that miners are incentivized to always seek the cheapest source of energy and that renewable/stranded energy is only going to become cheaper over time. At one point, hydro/wind/nuclear will become much more cheaper than coal/fossil fuels, it's inevitable.
- Closi 5y agoAs long as there are fossil fuels being used for the production of electricity, either non-clean energy or a mix will be cheaper as a purchaser (regardless of production costs). All the electricity gets mixed together in the power network anyway, so if you buy 'renewable' electricity you are effectively just paying a premium to say yours came from the pool of renewable electricity. If you increase the power load on the network though, and in-aggregate the power requirement increases, chances are that increase still comes from fossil fuels. I think we will be waiting a long time until global electricity is 100% renewable, although I hope it happens quick and it's good that you are more optimistic than me :)
- user-the-name 5y agoIf bitcoin mining is 100% renewable, that is 100% of renewable energy being destroyed instead of being put to use displacing other, more polluting energy. It doesn't matter if bitcoin mining specifically uses renewable energy. What matters is used in total by everyone. And bitcoin mining will always make things worse, no matter what kind of energy it uses.
- inter_netuser 5y agoif renewables can't power a computer network - sounds like it'll never power the world.
- user-the-name 5y agoWhat.