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Because non PoW algorithms are inferior, and bitcoin can be entirely powered from stranded energy that would not otherwise be used
by poontang1 5y ago
Because non PoW algorithms are inferior, and bitcoin can be entirely powered from stranded energy that would not otherwise be used
- paulgb 5y agoI always find it weird that people defend Bitcoin with hypotheticals like this. Sure, it could be, but it isn't, and it largely seems to be going in the other direction. A lot of these arguments assume that price of energy is the only input, but the availability of mining hardware is also a constraint, and once you have it, you have a strong incentive to run it 24/7. There are a few “climate-friendly” miners making a bit of noise, but the players that dominate by hashrate are using coal and natural gas. For example, here's a thread from the other day about one of the largest US miners and the difficulties they encountered bringing an old coal plant back up to capacity: https://mobile.twitter.com/anthonyc3004/status/1479506660200701957 https://mobile.twitter.com/anthonyc3004/status/1479506660200...