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Alternate opinion: proof of work mining provides a valuable service to society much moreso than videogames and the premium on GPUs reflects this. This isn't ma
by delabay 5y ago
Alternate opinion: proof of work mining provides a valuable service to society much moreso than videogames and the premium on GPUs reflects this.
This isn't mainstream opinion of course, however I predict it will be. Crypto mining is the true first electricity buyer of last resort. It's a productive activity which can use megawatts of power and be turned off at a moments notice in order for the grid to meet the demands of society (as what is happening in Texas right this very moment). What other MW scale industrial process can turn off at the flip of a switch? It's a defacto subsidy on green power projects.
The HN crowd hates to see it, but crypto mining is becoming integrated at the deepest levels with our electricity grid. It won't happen everywhere as some jurisdictions may ban this "unholy union" but the moment public opinion changes, this integration of grid and crypto is a slam dunk no brainer.