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> Energy that other things could be using. Like what? You really believe people are mining BTC in Manhattan? For mining to be profitable, cost of energy you p
by sph 3y ago
> Energy that other things could be using.
Like what? You really believe people are mining BTC in Manhattan?
For mining to be profitable, cost of energy you put in must be lower than the value of a Bitcoin. Where is energy cheap? Not where there is a need for it, like you claim, but where it is wasted. You don't mine BTC in Manhattan, you put a Bitcoin farm mining off peak on a hydroelectric power plant in the middle of nowhere, China.
Please let's stop this nonsense of Bitcoin stealing energy from who needs it the most, as it is utter baseless nonsense that just betrays total ignorance on the simple concept of supply and demand, and why things are priced a certain way.