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Yeah he's talking about making it _economical in rural Africa_ and complementing unstable demand with bitcoin earnings to make the ends meet. I think it's a nea
by twelve40 4y ago
Yeah he's talking about making it _economical in rural Africa_ and complementing unstable demand with bitcoin earnings to make the ends meet. I think it's a neat idea.
- mrguyorama 4y agoThe solution to "Africa has unreliable energy" isn't to waste what little they have, it's to help them invest in more things like solar panels. Bitcoin doesn't help anything but itself.
- scottiebarnes 4y agoInvest in solar panels with money from where?
- yellowapple 4y agoThe problem is that it's faster to get some solar panels put up than it is to connect them to a grid. Once a community has an energy surplus, then until there's someplace else to which they could send that energy, cryptocurrency mining offers at least some income in the meantime.
- lern_too_spel 4y agoOr, as I said, you could use it to do actual useful compute that people pay you for.
- yellowapple 4y agoDoes it pay as well? When your community is impoverished, that's kind of the most important factor; any compute (for which people pay you) is useful compute in this context, that usefulness scaling with how much people pay you.
- lern_too_spel 4y agoDue to the economics of Bitcoin mining where it is always the same computation that can be offloaded to specialized hardware, alternatives pay better. Bitcoin mining is only profitable if electricity is nearly free or if you have specialized hardware and worth doing at scale only if you can combine both. Doing useful computations is profitable even with plain old computers paying California electricity prices.
- yellowapple 4y agoIf that were indeed true, then Bitcoin mining wouldn't be anywhere near as popular as it is now. Also note that my comments pertain to cryptocurrency in general (or at least the proof-of-work variety). As for the useful computations you propose that ostensibly pay as well as cryptocurrency mining... which ones? If you're referring to something like cloud computing, keep in mind that the bandwidth requirements for cryptocurrency mining are basically negligible - which is an important factor to consider even in rural America, let alone rural Africa.