3 ms·
Afaik most % of mining happens close to the energy source where it can't even be transported or where it's already being wasted. At least that would be the most
by sktrdie 5y ago
Afaik most % of mining happens close to the energy source where it can't even be transported or where it's already being wasted. At least that would be the most economically viable solution; hence hopefully what everyone will eventually be doing (doing otherwise would not be rewardable).
Actually in a way the market price is not only defined by speculation but also how much "paying for energy" compares to "getting the bitcoin reward". So in a way the market price tells us how much people are willing to pay for energy (globally).
But yeah I agree it all sucks that it's going to mess up our planet even more.
- formerly_proven 5y agoYou're assuming that miners are paying the full cost of the energy they're using, which is not the case - see all the mining operations in places with subsidized energy, i.e. everyone else is paying some of the price, not to mention the externalities.
- jakub_g 5y agoThere's been quite a few reports of unused coal burning power stations being revived and dedicated to mining crypto.