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Crypto miners are buying electricity from the open market, same as everybody else. If externalities aren't fully included in the price, than it's a problem whic
by radu_floricica 5y ago
Crypto miners are buying electricity from the open market, same as everybody else. If externalities aren't fully included in the price, than it's a problem which is about 0.1% crypto and 99.9% regulatory. I fail to see how focusing on one particular use of electricity you don't like is helping solve the greater problem at all. We can just as well start regulating the use of electric kettles. The only difference is how the public is perceiving that particular use... which is exactly what I said.
> While I tend to agree with you about the futility of government regulation, it’s hard to see a future where proof of work mining is done sustainably.
Just replace "proof of work mining" with "electricity consumption".
And speaking of straw man, focusing on the specific while ignoring the general is a pretty standard debate technique. I can provide sources if you want.
- ben_w 5y ago> We can just as well start regulating the use of electric kettles. Electric kettles are already regulated for the sake of consumers themselves, and even so cause direct problems the U.K. power grid has to deal with: https://en.m.wikipedia.org/wiki/TV_pickup https://en.m.wikipedia.org/wiki/TV_pickup
- radu_floricica 5y agoI know. I chose on purpose an example which is (rather unexpectedly) drawing a lot of power and causing issues. And yet we're not talking about banning them - we're simply regulating them to make sure they don't start fires. Which, sure, I'm perfectly ok with doing for crypto mining rigs as well, if they're not already covered by existing legislation.