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> A lot of bitcoin miners use stranded power, which would otherwise go to waste. A lot of bitcoin miners are keeping fossil fuel spewing power plants from bein
by tw04 3y ago
> A lot of bitcoin miners use stranded power, which would otherwise go to waste.
A lot of bitcoin miners are keeping fossil fuel spewing power plants from being retired because the regulations that keep power affordable for Americans haven’t caught up. There’s a reason China killed bitcoin mining and the US needs to follow suit. Literally killing the planet for imaginary coins that don’t solve any problems that weren’t already solved. Well, besides the whole anonymous ransom thing.
- latchkey 3y agoI believe that the US should work to end coal plants regardless of who is buying power from them. Oh and I'm more of a fan of Ethereum. They've now moved to PoS, which consumes a fraction of the power, and there is actual utility on that chain. Moved my bitcoin to wbtc too, but looking forward to more decentralized versions of it eventually.
- anonporridge 3y ago> There’s a reason China killed bitcoin mining and the US needs to follow suit. According to this data, China tried, but failed to kill bitcoin mining. As of the last update in Jan 2022, China currently has 55% of the hashrate it had before the ban. https://ccaf.io/cbnsi/cbeci/mining_map https://ccaf.io/cbnsi/cbeci/mining_map Also, mining is a global industry. Banning it in one country is like grabbing a fist full of water. It just oozes out elsewhere. It looks like the China ban mostly oozed into the US and Kazakhstan, before rebounding back into China. The effective reduced total energy use from the China ban barely lasted 6 months before it surpassed previous levels. This was the result of one of the strongest authoritarian surveillance states in the world. What makes you think anyone else can do better?