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>Bullshit. When one coal mine in a remote region of China flooded, the Bitcoin hash rate measurably dropped by 30%. Keep in mind this was just one coal mine. No

>Bullshit. When one coal mine in a remote region of China flooded, the Bitcoin hash rate measurably dropped by 30%. Keep in mind this was just one coal mine. Not all of China's production. FYI, China kicked out crypto miners, which is why hash rates tanked in the last few months: https://www.blockchain.com/charts/hash-rate https://www.blockchain.com/charts/hash-rate So we don't know what percentage of mining is even left in China. Also, dirty energy is a regulatory issue. Externalities should be captured in the price with taxation, and coal mining should not be subsidized by a nation state. When you do those things, energy consumers won't want to use dirty energy, they'll flock to renewables.

Jasper_ 5y ago
> FYI, China kicked out crypto miners, which is why hash rates tanked in the last few months: The coal mine flood happened about a month before the widespread ban of Bitcoin in China, and we can see both events on the hashrate over time chart.
- coralreef 5y ago
  Sure, but that means any estimate on clean/dirty energy usage is harder to make now.
  - verdverm 5y ago
    If BTC uses clean energy, someone else has to use the dirty energy because BTC took the renewable they could have used. Mining has also driven up costs for communities that had cheap renewables. BTC is a waste of energy because it doesn't do any of the things it claims to do. It's highly centralized, far more wealth imbalance, and trending towards custodial accounts if it ever wants to reach mass adoption.
    - nyrosis 5y ago
      That would depend on where the financial motivation to produce renewable energy is coming from. A logical argument could be made that bitcoin encourages the production and advancment of green energy technologies by rewarding such efforts with wealth generation.
      - verdverm 5y ago
        Not all logical arguments follow a path of truthiness
      - nullsmack 5y ago
        Oh BS I keep hearing about bitcoin farms that get shut down because they are stealing electricity. That is more likely than someone running one on solar and wind. AND that solar/wind would've been better used to offset a fossil fuel source of electricity than being used on completely and utterly fake and worthless "money"

Jasper_ 5y ago

> FYI, China kicked out crypto miners, which is why hash rates tanked in the last few months: The coal mine flood happened about a month before the widespread ban of Bitcoin in China, and we can see both events on the hashrate over time chart.

coralreef 5y ago
Sure, but that means any estimate on clean/dirty energy usage is harder to make now.
- verdverm 5y ago
  If BTC uses clean energy, someone else has to use the dirty energy because BTC took the renewable they could have used. Mining has also driven up costs for communities that had cheap renewables. BTC is a waste of energy because it doesn't do any of the things it claims to do. It's highly centralized, far more wealth imbalance, and trending towards custodial accounts if it ever wants to reach mass adoption.
  - nyrosis 5y ago
    That would depend on where the financial motivation to produce renewable energy is coming from. A logical argument could be made that bitcoin encourages the production and advancment of green energy technologies by rewarding such efforts with wealth generation.
    - verdverm 5y ago
      Not all logical arguments follow a path of truthiness
    - nullsmack 5y ago
      Oh BS I keep hearing about bitcoin farms that get shut down because they are stealing electricity. That is more likely than someone running one on solar and wind. AND that solar/wind would've been better used to offset a fossil fuel source of electricity than being used on completely and utterly fake and worthless "money"