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People need to remember that using up the available renewable energy on crypto just means there's less available for other consumers to use. The idea is to redu
by Salgat 5y ago
People need to remember that using up the available renewable energy on crypto just means there's less available for other consumers to use. The idea is to reduce electrical demand which makes it easier to shift towards 100% renewable. Adding all that electrical demand just keeps around non-renewable energy longer since few countries are able to go 100% renewable on their current demand.
- louloulou 5y agoI doesn't, at all. Energy production and energy distribution are entirely different things. There is enough unused (i.e. wasted) hydro power in Quebec to power the entire Bitcoin network. If energy is produced too far from where it is demanded such that transmission is prohibitively expensive, there is no downside to having highly mobile miners to make use of it. In fact the extra revenue generated can be used to subsidise the rest of the grid.
- Salgat 5y agoHere's a writeup on how that's a misleading statement, and how the best use of that hydro power for offsetting carbon would be for it to be used to offset neighboring province's much worse coal-based power. https://www.nrcm.org/news/hydro-quebec-offers-misleading-claims-powers-climate-impact/ https://www.nrcm.org/news/hydro-quebec-offers-misleading-cla...