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When Nick Grossman's article was posted 9 months ago [1], there were people who argued in favor of Bitcoin as a battery, but now it seems Bitcoin is so hated th
by mwattsun 5y ago
When Nick Grossman's article was posted 9 months ago [1], there were people who argued in favor of Bitcoin as a battery, but now it seems Bitcoin is so hated that my original comment is headed into negative territory and I'm arguing alone, so I'd use this as a sell indicator if I had any Bitcoin.
I don't like the energy wastage of Bitcoin anymore than anyone else. This needs to be fixed and firing up old fossil fuel plants, for example in upstate New York, needs to be outlawed.
I just thought the Bitcoin as battery was interesting and I stand by it. I can imagine cases where abundant renewable energy sources are not being utilized because they are geographically remote and Bitcoin mining is a way to get some value out of it.
[1] https://news.ycombinator.com/item?id=26609247 https://news.ycombinator.com/item?id=26609247
[2] https://www.nbcnews.com/science/environment/some-locals-say-bitcoin-mining-operation-ruining-one-finger-lakes-n1272938 https://www.nbcnews.com/science/environment/some-locals-say-...