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Bitcoin incentivizes miners and energy companies to use otherwise wasted energy. It incentivizes them to innovate in the energy industry unlike other networks b
by jessebarton 5y ago
Bitcoin incentivizes miners and energy companies to use otherwise wasted energy. It incentivizes them to innovate in the energy industry unlike other networks bitcoin is able to pay the people that innovate and build better technologies in the space.
- arcticbull 5y agoNo, it really doesn't. It incentivizes the use of the cheapest energy. That's why PE firms are re-opening coal power plants. Burning waste coal is about the worst thing you can do with it. Flaring needs to stop, too. Transmission of power is about 97% efficient within the current network, and there's a whole world of things we can do with that energy - desalination, metalworking. [edit] Given a choice between reliable power coming out the back of a coal furnace in town and unreliable power in the middle of nowhere coming out the back of a waste plant and a solar farm, for probably 50% more, I know which I'd pick if I were running a business. This is again greenwashing.