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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/econom
by 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 agoIt 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 agoImagine 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...