3 ms·
While Bitcoin is designed to reward high energy consumption the opposite is true for the fiancial system, since lower energy costs would make the different proc
by Mariehane 3y ago
While Bitcoin is designed to reward high energy consumption the opposite is true for the fiancial system, since lower energy costs would make the different processing entities earn higher margins.
Thus, the financial system provides much more utility for the energy it consumes than bitcoin does.
- MacsHeadroom 3y agoBitcoin rewards energy efficiency by design, which is why the vast majority of bitcoin mining uses excess fully renewable energy.
- anpe 3y agoYeah, like running old coal powered plants to power mining facilities[1]. [1] https://www.theguardian.com/technology/2022/feb/18/bitcoin-miners-revive-fossil-fuel-plant-co2-emissions-soared https://www.theguardian.com/technology/2022/feb/18/bitcoin-m...