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It blocks renewables. It consumes them. Show me a real project which actually had a energy net positive and don't show me all those garbage green washing pape
by Melingo 4y ago
It blocks renewables.
It consumes them.
Show me a real project which actually had a energy net positive and don't show me all those garbage green washing papers from Bitcoin companies which do not proof any of this.
- lowkey 4y agoHere is an example from the Guardian explaining how the contracts are designed between Bitcoin mining companies and Texas power companies. It describes exactly the scenario I described where miners negotiate long-term contracts at low electricity rates in exchange for miners agreeing to turn off on short notice during periods of high demand. As a result, energy companies are able to justify investing in highly variable wind and solar power, knowing that they have long-term commitments for this wind power even during periods of low demand. The wind often blows hardest at night when there isn’t sufficient demand to justify the investment otherwise. https://www.theguardian.com/technology/2021/aug/17/bitcoin-cryptocurrency-mining-texas https://www.theguardian.com/technology/2021/aug/17/bitcoin-c...