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Bitcoin mining could be the solution
by kapsteur 2y ago
Bitcoin mining could be the solution
- Lucasoato 2y ago...to create wasted heat and warm our houses during winter :)
- Ekaros 2y agoYou probably want heat pumps instead for heating...
- consp 2y agoI cannot tell if this is sarcastic or not so the assumption is it isn't. In which case: WTF? There are many solutions for cheap energy but a pointless digest algorithm isn't one. While I do not agree with the AI craze it would still be a better solution.
- tosl567 2y ago[flagged]
- greesil 2y agoBitcoins as grid energy storage? Just install my BitWall box next to the pv junction box. I'd be surprised if the economics math works out but that's a fun idea.
- d1sxeyes 2y agoIt is hard to tell if you are joking here or not, but in case you are not: if the cost of mining is low, the value of mining is also low. The reason for having 'mining' in Bitcoin is to artificially create scarcity in order to simulate blocks having real-world value. If you can mine blocks for free, the value of each block plummets.
- tosl567 2y ago[flagged]
- kapsteur 2y agoI'm not. The price of energy will lower the value but if everyone does it the hashrate will be higher so it will balance out.
- d1sxeyes 2y agoSo then what problem is solved?
- hooli_gan 2y agoExcess energy is burned, providing some value instead of none
- tsimionescu 2y agoAs long as Bitcoin is unusable for day to day transactions (7 TPS globally isn't even good enough to run a town on), it can't solve any real problems, because its value is just speculative make-believe. And no, Lightning or other L2 networks don't change that, since they don't actually use Bitcoin all that much - they don't actually give Bitcoin's assurances unless you run them at Bitcoin speeds (i.e. close the channel after every transaction, negating any performance advantage).
- tosl567 2y ago[flagged]
- alperakgun 2y agotype 4 civilization cryptogalaxies: galaxies full of abandoned dyson spheres with depleted stars for crypto mining.
- sebstefan 2y agoAnd if we ever automate every job away, littering could be the solution There's a hundred other things we can dump energy on before deciding to waste it ; pumping water uphill, gravity batteries, regular batteries, electrolyzing hydrogen to use for later, ...
- tosl567 2y ago[flagged]
- senectus1 2y agobecause of the versatility of hydrogen, thats where it'll be. Fuel, "Storage", Ammonia etc Hydrogen is likely to become the default go to once we start hitting these "fee energy" zones in big enough numbers.
- bryanlarsen 2y agoWhy the heck would you use something so difficult/expensive to store & transport like Hydrogen? If energy is expensive than it's makes more sense to store it in batteries than hydrogen since batteries are about 3X as efficient as the hydrogen cycle. If energy is cheap it makes more sense to use about twice as much energy to capture and attach carbon molecules to that hydrogen to create a hydrocarbon resulting in something that's easy to store and transport, and that uses existing infrastructure.
- sebstefan 2y agoYou don't have to transport it very far if you generate it onsite straight in the hydrogen powerplant that'll turn it back into electricity with between 40 to 60% efficiency If we follow your 3rd paragraph and turn the hydrogen into hydrocarbons, not only do you lose efficiency in that process, you make CO2 as a byproduct of combustion again Nobody is interested in storage that turns your carbon-free green energy back into greenhousing energy The reason you might want hydrogen instead of batteries is just cost, I guess.
- pfdietz 2y agoI'll stick with my space heater, various kinds of fuzz testing.
- reginald78 2y agoIsn't a bitcoin mining rig also a space heater that makes money though?
- tosl567 2y ago[flagged]