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Economic viability depends on price. Where mining drives up prices, outcompeting other uses, it's driving out otherwise viable uses.
by netcan 5y ago
Economic viability depends on price. Where mining drives up prices, outcompeting other uses, it's driving out otherwise viable uses.
- chrisco255 5y agoWherever mining drives up prices it cuts directly into the profit margins of that miner. The electricity market is local while the Bitcoin market is global. A miner who faces an increase in electric costs will lose to miners in other parts of the globe with cheaper electricity.
- vmception 5y agoThat happens sometimes, but just like the talk OP posted, it requires imagining the coal plants and ignoring all the other operations more applicable to what I described Although relaunched coal operations or weak electrical grids is what makes the news, the other energy use is just a much greater opportunity for miners and much more prevalent already in use and scale. I think anti-POW vigilantes actually have a role in making sure it stays that way because there is a real threat, but it requires then acknowledging that it already happens that way, but since people are searching for ways to be anti-POW instead of looking for energy uses that were worse before POW moved in, it is an ironic way to lose this battle.