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If Bitcoin miners are paying for or producing the electricity themselves, what's the problem? But that's not really the point though is it? Electricity use is
by Quindecillion 4y ago
If Bitcoin miners are paying for or producing the electricity themselves, what's the problem?
But that's not really the point though is it? Electricity use is not the problem. Carbon emissions are.
If renewables are competitive with fossil fuels (hint: they are), and profit-driven Bitcoin miners are incentivized to seek out the cheapest sources of energy, then Bitcoin mining should be one of the "greenest" industries on the planet.
Guess what? It already is greener than many other industries, with close to 60% of it's energy coming from renewable sources AND on top of that there are lots of operations popping up to capture and burn flared gas (i.e. methane, which is a far worse GHG than CO2).
https://medium.com/@magusperivallon/a-financial-hail-mary-for-the-climate-an-argument-for-bitcoin-adoption-1a695b668529 https://medium.com/@magusperivallon/a-financial-hail-mary-fo...
- bonzini 4y agoIs it greener because (as you said) Bitcoin mining with renewable energy is more profitable, and therefore they prevent other users of electricity from decreasing their carbon emissions?
- TomSwirly 4y ago> with close to 60% of it's energy coming from renewable sources Only 30% of the world's electricity comes from renewables, so your claim seems really far-fetched. Your link does not mention the word "renewable" at all. Indeed, it seems barely related to your argument and wildly discursive. Citation for your wildly unbelievable claim? And if I sound angry, I am - every single Bitcoin advocate seems to think nothing of just making up facts whenever they please. It's appalling and unethical.