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Bitcoin doesn't discriminate between green energy sources and fossil fuel energy sources. It encourages production/consumption of fossil fuels just as much as i
by skyfaller 4y ago
Bitcoin doesn't discriminate between green energy sources and fossil fuel energy sources. It encourages production/consumption of fossil fuels just as much as it encourages production/consumption of green energy sources. There's no particular reason to believe that Bitcoin will accelerate electrification.
- djschnei 4y ago> Bitcoin doesn't discriminate between green energy sources and fossil fuel energy sources. BINGO! If you have something that will buy any left over or unusable stock of product X, the production of X becomes less risky and easier to invest in. This isn't hard. Bitcoin incentivizes energy production and innovation. If you want that energy to be green, bitcoin is still more than willing to buy it from you. Lowering the risk of innovation in the space is obviously good for green energy.
- skyfaller 4y agoNo, this doesn't make sense. If your goal is to reduce fossil fuel usage, and Bitcoin also incentivizes fossil fuels, then there's no reason to expect that Bitcoin will help reduce the share of energy produced by fossil fuels. Worse yet, if it increases total energy consumption, and doesn't affect the percentage produced by fossil fuels, then that will increase the absolute amount of greenhouse gas emissions. Your arguments work just as well for reducing risk for investing in "marginal" fossil fuel sources.
- djschnei 4y agoBitcoin incentivizes cheap energy production. We need more cheap energy. Bitcoin does nothing to alter or effect other incentives or disincentives on energy production. Assuming prices are equivalent, it's net neutral on production mix. However, we've been told renewable energy is cheaper! Therefore it accelerates its adoption.