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This is good for the environment. It encouraged green power like solar and wind, and if energy usage ever becomes a problem we can just turn off the miners.

by ftxbro 4y ago

danaris 4y ago
This appears to be a classic example of the Broken Window Fallacy. https://en.wikipedia.org/wiki/Broken_window_fallacy https://en.wikipedia.org/wiki/Broken_window_fallacy
verdverm 4y ago
Sounds more like we spend as much on cryptos, which have provided the tiniest fraction of value, compared to all other computers, which have provided immeasurable value. Turning off the cryptos is sound environmental policy, that energy will be needed for the electrification of transport.
- ftxbro 4y ago
  I'm just going by what the Texas Comptroller said https://comptroller.texas.gov/economy/fiscal-notes/2022/aug/crypto-tx.php https://comptroller.texas.gov/economy/fiscal-notes/2022/aug/... > "Despite its heavy power needs, cryptocurrency mining offers a potentially beneficial and symbiotic relationship between power usage and power generation. Miners can participate in demand response programs, incentives offered by ERCOT to quickly turn off miners’ power during periods of peak demand. When electricity prices are high or supply is straining to meet demand, miners can reduce their energy use. Supply and demand run in tandem, so if a miner stops using electricity, it’s the equivalent of a power plant producing extra electricity that could assist in meeting grid demand and help with grid stability." > "simple economic theory suggests that increased mining activity could spur additional energy infrastructure. Mining facilities often are located near wind and solar farms that provide access to cheap electricity prices" Do you disagree with the Comptroller?
  - verdverm 4y ago
    It is easy to find arguments to support either view. Better to be evidence based over cherry picking articles that confirm your bias. https://time.com/6193004/crypto-climate-impact-facts/ https://time.com/6193004/crypto-climate-impact-facts/
    - ftxbro 4y ago
      Imagine that I had written my original comment because I had read the article I provided, which I had, how ridiculously condescending your comment would sound. Maybe you are talking about 'bias' because of my username? It's a joke name from after FTX busted. I think cryptocurrency speculation is some beanie babies stuff.
      - verdverm 4y ago
        > I'm just going by [ one source ] This is not how to evaluate, you must seek multiple sources. > ridiculously condescending your comment would sound What is condescending about my statement? You are the one being toxic, living up to the commonly held connotations for your handle...
shagymoe 4y ago
You're going to have trouble convincing anyone of anything related to crypto with that username.
- ftxbro 4y ago
  It's an ironic name, you can look at the first comment I ever made https://news.ycombinator.com/item?id=34473811 https://news.ycombinator.com/item?id=34473811

This is good for the environment. It encouraged green power like solar and wind, and if energy usage ever becomes a problem we can just turn off the miners.

by ftxbro 4y ago

This is good for the environment. It encouraged green power like solar and wind, and if energy usage ever becomes a problem we can just turn off the miners.

danaris 4y ago

This appears to be a classic example of the Broken Window Fallacy. https://en.wikipedia.org/wiki/Broken_window_fallacy https://en.wikipedia.org/wiki/Broken_window_fallacy

verdverm 4y ago

Sounds more like we spend as much on cryptos, which have provided the tiniest fraction of value, compared to all other computers, which have provided immeasurable value. Turning off the cryptos is sound environmental policy, that energy will be needed for the electrification of transport.

ftxbro 4y ago
I'm just going by what the Texas Comptroller said https://comptroller.texas.gov/economy/fiscal-notes/2022/aug/crypto-tx.php https://comptroller.texas.gov/economy/fiscal-notes/2022/aug/... > "Despite its heavy power needs, cryptocurrency mining offers a potentially beneficial and symbiotic relationship between power usage and power generation. Miners can participate in demand response programs, incentives offered by ERCOT to quickly turn off miners’ power during periods of peak demand. When electricity prices are high or supply is straining to meet demand, miners can reduce their energy use. Supply and demand run in tandem, so if a miner stops using electricity, it’s the equivalent of a power plant producing extra electricity that could assist in meeting grid demand and help with grid stability." > "simple economic theory suggests that increased mining activity could spur additional energy infrastructure. Mining facilities often are located near wind and solar farms that provide access to cheap electricity prices" Do you disagree with the Comptroller?
- verdverm 4y ago
  It is easy to find arguments to support either view. Better to be evidence based over cherry picking articles that confirm your bias. https://time.com/6193004/crypto-climate-impact-facts/ https://time.com/6193004/crypto-climate-impact-facts/
  - ftxbro 4y ago
    Imagine that I had written my original comment because I had read the article I provided, which I had, how ridiculously condescending your comment would sound. Maybe you are talking about 'bias' because of my username? It's a joke name from after FTX busted. I think cryptocurrency speculation is some beanie babies stuff.
    - verdverm 4y ago
      > I'm just going by [ one source ] This is not how to evaluate, you must seek multiple sources. > ridiculously condescending your comment would sound What is condescending about my statement? You are the one being toxic, living up to the commonly held connotations for your handle...

shagymoe 4y ago

You're going to have trouble convincing anyone of anything related to crypto with that username.

ftxbro 4y ago
It's an ironic name, you can look at the first comment I ever made https://news.ycombinator.com/item?id=34473811 https://news.ycombinator.com/item?id=34473811