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Crypto Miners in Georgia Consume 10% of the Entire Nation’s Power

thedailychain.com

11–20 of 38 posts

Re: Crypto Miners in Georgia Consume 10% of the Entire Nation’s Power

#11

Earlier quoted context omitted.

Increasing demand for renewable energy - thrashing our planet ?

Every KwH spent on useless calculations could be better spent heating a home, lighting a room, smelting some ore, or literally anything productive.

Also having to produce more solar panels and wind turbines to run miners is not good for the environment either.

Re: Crypto Miners in Georgia Consume 10% of the Entire Nation’s Power

#12

Earlier quoted context omitted.

Every KwH spent on useless calculations could be better spent heating a home, lighting a room, smelting some ore, or literally anything productive.

Oh, they can heat rooms/homes alright!

Overheating rooms which then have to be ventilated / air conditioned and aren't even an efficient way to heat an area compared to heat pumps.

Re: Crypto Miners in Georgia Consume 10% of the Entire Nation’s Power

#13
post #9

Interesting headline because it's totally accurate and there is nothing wrong with it but it still feels very misleading. Does anyone know what the AP standard is for referencing the country VS the state of Georgia? Is this discouraged?

I live in the US and if I see Georgia in the news, I tend to assume it's the country rather than the US state.

Re: Crypto Miners in Georgia Consume 10% of the Entire Nation’s Power

#14

> region where electricity is free That's your problem right there. You either need floating prices or strict regulation to prevent misallocation of resources.

"If something cannot go on forever, it will stop."

[0] https://en.wikipedia.org/wiki/Herbert_Stein#Stein's_Law

Re: Crypto Miners in Georgia Consume 10% of the Entire Nation’s Power

#16
post #9

Interesting headline because it's totally accurate and there is nothing wrong with it but it still feels very misleading. Does anyone know what the AP standard is for referencing the country VS the state of Georgia? Is this discouraged?

> [...] it still feels very misleading [...] referencing the country VS the state of Georgia

You know, there exists a world outside the US. And yet, when "Georgia" and "nation" is mentioned in the same sentence, you feel misled because it doesn't refer to the US state of Georgia? The problem is with you, not with the headline.

Re: Crypto Miners in Georgia Consume 10% of the Entire Nation’s Power

#19

Earlier quoted context omitted.

Increasing demand for renewable energy - thrashing our planet ?

Every KwH spent on useless calculations could be better spent heating a home, lighting a room, smelting some ore, or literally anything productive.

Not totally true. As I pointed out in previous HN threads, there is a lot of power used by miners that would otherwise be unused. In the Chinese regions of Yunan and Sichuan, there is such an overcapacity of hydropower that dams are forced to release water (without spinning the turbines) which amounts to over 100 TWh wasted every year. So just these 2 regions let more hydropower go to literal waste than the worldwide consumption of Bitcoin miners.

Incidentally, this overcapacity is why some estimate that half the global Bitcoin mining capacity is located in Sichuan and Yunan. Despite that, they just make a tiny dent in the wasted hydropower...

Re: Crypto Miners in Georgia Consume 10% of the Entire Nation’s Power

#20

I wonder what can be done about this. These crypto calculations are totally useless RNG and are trashing our planet. One solution I have seen is to charge for power on a non linear scale so for normal users its fairly cheap but if you start to use very high amounts of power it becomes more expensive per kwh. This method doesn't sit too well with me but I don't have any other better suggestions.

In Australia electricity and gas both have a certain amount at a lower rate, with amoumts exceeding that going at a higher rate, also different on/off peak.

I suppose having a particularly steep increase over an amount only cryptominers will hit would be good.

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