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If bitcoin is primarily mined with hydroelectric power in china… isn’t that increasing the demand for power? wouldn’t that energy end up used or sold elsewhere
by bingidingi 5y ago
If bitcoin is primarily mined with hydroelectric power in china… isn’t that increasing the demand for power? wouldn’t that energy end up used or sold elsewhere if not consumed by bitcoin?
- ullevaal 5y agoNo no no, bitcoin is perfectly configured to incentivise technological leaps in renewable energy that increase availability, without itself consuming the entire benefit it generates. See also ASIC production, where bitcoin is also affecting the market in the best way you could imagine, and all the hardware is integrated in a circular chain of consumption.