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> This isn't true for anything else - there's no other industry that so directly turns energy into money without limits. Aluminum refining maybe, but even then
by mattnewton 5y ago
> This isn't true for anything else - there's no other industry that so directly turns energy into money without limits.
Aluminum refining maybe, but even then you are going to run out of ore to turn into aluminum. This really highlights how novel the mining economics are.
- Nevermark 5y agoRefining more aluminum at a lower energy cost is a societal gain. Using more cheaper energy to hit a higher difficulty to protect the same network isn't a societal gain in the same way. I.e. aluminum still follows the normal supply-demand curve even if it is highly sensitive to energy prices They both suffer from the negative energy externalities, but you get something more with higher aluminum production. You get more aluminum.