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Two flaws with your argument: 1. We crossed the line on climate change. We need to stop wasting co2 for everything not critical to us and need to start investi

Two flaws with your argument: 1. We crossed the line on climate change. We need to stop wasting co2 for everything not critical to us and need to start investing and incentivcing green things. 2. I heard this argument often enough and blindly repeated: bitcoin will always optimize for the cheapest energy. Right now it co sums coal energy and it takes away green energy. There is also no incentive for any Bitcoin miner to invest in green energy. Why would they? If they would it would mean laws make it that they have to because green energy would be the cheapest one. And then they would still consume all of this green energy because that's what bitcoin consumes: Energy. The only thing left is heat. Heating with energy is the worst way of heating. Heating through thermal energy is more efficient. Bitcoins value is decoupled from the energy sector. The incentive of burning co2 for money is much higher than what the energy market is optimized for. Our energy market is often subsidies because people NEED energy. Guess who wins in rural china? Bitcoin mining or a light bulb for a kid to learn in the evening? Come guess

scotty79 5y ago
Energy sector value will get coupled to crypto. It will eventually be one industry. Crypto will become the way for energy producers to capitalize on excess renewable energy. We don't have storage so it's not enough to get to 100% renewables. We need to get to 1000% production so off peak production will fullfill all our needs. And they need to have a way to get paid for the excess. Price of energy will be dictated by price of bitcoin, and government will subsidize energy sale to residential consumers so they can afford energy. Commercial ventures will pass the additional energy cost to consumer in prices of goods. It will all land at equilibrium where mining is only profitable when done with excess energy.
- cestith 5y ago
  I'm not sure if your analysis is correct about the outcome, but it is a brilliant look at one way forward. Something else that excess energy could be used for is recycling aluminum, possibly for large-scale reissue of aluminum-air batteries. In any case, combining some sort of production to the excess may be far easier than grid-level storage and I hope some people in the right positions listen to you about that.

scotty79 5y ago

Energy sector value will get coupled to crypto. It will eventually be one industry. Crypto will become the way for energy producers to capitalize on excess renewable energy. We don't have storage so it's not enough to get to 100% renewables. We need to get to 1000% production so off peak production will fullfill all our needs. And they need to have a way to get paid for the excess. Price of energy will be dictated by price of bitcoin, and government will subsidize energy sale to residential consumers so they can afford energy. Commercial ventures will pass the additional energy cost to consumer in prices of goods. It will all land at equilibrium where mining is only profitable when done with excess energy.

cestith 5y ago
I'm not sure if your analysis is correct about the outcome, but it is a brilliant look at one way forward. Something else that excess energy could be used for is recycling aluminum, possibly for large-scale reissue of aluminum-air batteries. In any case, combining some sort of production to the excess may be far easier than grid-level storage and I hope some people in the right positions listen to you about that.