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Bitcoin miners are buying power plants

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51–60 of 578 posts

Re: Bitcoin miners are buying power plants

#51
post #5

A simple move that would ban selling fossil power plants for cryptocurrencies mining purpose BUT allowing to do so for the carbon-neutral energy would be a win-win for both sides and will help the transition from carbon-heavy energy.

Simpler: ban banks and credit card companies from dealing with anything related to cryptocurrency

Re: Bitcoin miners are buying power plants

#52

Earlier quoted context omitted.

It's true though. You can throw up a 1kw system for under 1k now.

It still generates heat, which warms the planet.

Is heat generated by humans really a significant contributor to global warming compared to the warming effects of human generated greenhouse gases?

Re: Bitcoin miners are buying power plants

#53

Earlier quoted context omitted.

It's true though. You can throw up a 1kw system for under 1k now.

It still generates heat, which warms the planet.

The sun generates heat when it lands on the ground. One could say PV helps keep the ground cool!

Haven't done any math either ways, but it's not like sunlight doesn't already heat up the planet.

Re: Bitcoin miners are buying power plants

#54

Earlier quoted context omitted.

Mining is a race. If you have X seconds latency because you are millions of miles away, you’ll loose $Y over the long run. You can figure out the function which ties X and Y together.

If you drop beacon towers along the way to maintain bandwidth, why wouldn’t this work?

the speed of light (or radio waves) doesn't become any faster with beacons. it's latency that's the problem.

Re: Bitcoin miners are buying power plants

#55

I keep reading that coal is uncompetitive even to operate because of renewables. So what’s the deal here? Is it the need for consistent base load electricity that caused them to choose coal?

It's now using natural gas:

> ...drawing power from the plant’s 106-megawatt generator now fueled by natural gas.

Re: Bitcoin miners are buying power plants

#56

Earlier quoted context omitted.

It's true though. You can throw up a 1kw system for under 1k now.

It still generates heat, which warms the planet.

https://www.treehugger.com/ask-pablo-do-solar-panels-contrib...

"Cities and their expansive hardscapes are certainly to blame for the heat island effect and, since the hardscapes and solar energy-absorbing roofs are already there, solar panels may actually represent a reduction in heat absorbtion. Add to that the fact that solar panels produce renewable energy that does not contribute to climate change like conventional sources like coal. Adding to that, the soot particles in the atmosphere from the burning of fossil fuels contribute a radiative forcing of 0.1 to 0.4 W/m2. Solar panels, on the other hand, are reducing the amount of climate change-causing emissions.

"So if you're wondering about the heat island effect before installing rooftop solar, don't. According to the numbers, the solar panels will not only produce energy, but keep your home slightly cooler, which means you'll be using less energy in the first place, which will keep us all a little cooler."

Re: Bitcoin miners are buying power plants

#58

Earlier quoted context omitted.

If you drop beacon towers along the way to maintain bandwidth, why wouldn’t this work?

latency and bandwidth are two different things... speed of light is a constant.

these beacons are in worm holes, obviously

Re: Bitcoin miners are buying power plants

#59

This crypto-currency nonsense is getting out of hands.

When profits are being made, who cares what happens to future generations.

Cryptocurrency is, for the most part, a contagion. We opened Pandora's box and the genie is out of the bottle. Short of some kind of cataclysmic black swan event, I'm not sure this insanity will end anytime soon. :(

Re: Bitcoin miners are buying power plants

#60
post #5

A simple move that would ban selling fossil power plants for cryptocurrencies mining purpose BUT allowing to do so for the carbon-neutral energy would be a win-win for both sides and will help the transition from carbon-heavy energy.

Simpler: ban banks and credit card companies from dealing with anything related to cryptocurrency

What about proof of stake or off chain transactions
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