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This is a polemic. I don't have a stated position on whether Bitcoin is or isn't going away, and we've completely drifted away from the factual matter at hand (
by woodruffw 4y ago
This is a polemic. I don't have a stated position on whether Bitcoin is or isn't going away, and we've completely drifted away from the factual matter at hand (that Bitcoin does currently incentivize coal burning).
If Bitcoin is neutral as you say, it cannot incentivize renewable production. It can only induce energy demand and, consequently, seek out the cheapest energy on the market. It doesn't get to sit on any laurels for that, any more than car manufacturing or aluminum refinement would. Except, of course, that those actually produce things.
- tossl568 4y agoBitcoin mining secures hundreds of billions of value for hundreds of millions of people going back to the very first transaction. It produces security, a forcefield around a financial system, and the miners get paid to do that.