SolarBatteryBitcoin

#1

Post by simonpure » Thu, Apr 22, 2021, 1:21 AM UTC

Re: SolarBatteryBitcoin

#2

Post by randomhodler84 » Thu, Apr 22, 2021, 3:30 AM UTC

This is incredible, and exactly what Square was getting at. If bitcoin is the incentive for decentralized power generation and battery provision, hash on!

Re: SolarBatteryBitcoin

#3

Post by gameswithgo » Thu, Apr 22, 2021, 3:42 AM UTC

randomhodler84 wrote: post #2

This is incredible, and exactly what Square was getting at. If bitcoin is the incentive for decentralized power generation and battery provision, hash on!

delusional, this just continues to waste resources for peoole to speculate. resources wasted, lives ruined when they get the gambling wrong. everybody cut this crap out, please.

Re: SolarBatteryBitcoin

#4

Post by doomroot » Thu, Apr 22, 2021, 3:45 AM UTC

gameswithgo wrote: post #3

randomhodler84 wrote: post #2

This is incredible, and exactly what Square was getting at. If bitcoin is the incentive for decentralized power generation and battery provision, hash on!

delusional, this just continues to waste resources for peoole to speculate. resources wasted, lives ruined when they get the gambling wrong. everybody cut this crap out, please.

What if you’re wrong?

Re: SolarBatteryBitcoin

#5

Post by capsulecorp » Thu, Apr 22, 2021, 3:47 AM UTC

Making open ponzi's green!

Re: SolarBatteryBitcoin

#6

Post by capsulecorp » Thu, Apr 22, 2021, 3:48 AM UTC

doomroot wrote: post #4

gameswithgo wrote: post #3

Earlier quoted context omitted.

delusional, this just continues to waste resources for peoole to speculate. resources wasted, lives ruined when they get the gambling wrong. everybody cut this crap out, please.

What if you’re wrong?

He isn't.

Re: SolarBatteryBitcoin

#7

Post by barathr » Thu, Apr 22, 2021, 3:50 AM UTC

I'd like to believe that something like this is possible, but I just don't get how this gets around the fact that every Joule that is used for bitcoin mining is a Joule that wasn't used somewhere else. Even if many Joules of renewable power get wasted during periods of overproduction (mid-day in the summer in California), other more worthwhile loads could be shifted to use that power, because today it's negative-priced during such periods. If bitcoin soaks up that power, it won't be negative-priced, and other loads won't be moved to use it, and they'll use power from non-renewable sources during some other time of day.

There's all sorts of demand shifting that can be done. Most articles talk about washers and dryers, and certainly that's one smaller load, but also EV charging, pre-cooling of buildings during the summer (run the AC in houses full blast during the middle of the day so there's no need to run it in the early evening), etc.

Re: SolarBatteryBitcoin

#8

Post by plantain » Thu, Apr 22, 2021, 3:50 AM UTC

The missing consideration here is the wasted capital of a miner sitting there idle.

Re: SolarBatteryBitcoin

#9

Post by dnautics » Thu, Apr 22, 2021, 3:51 AM UTC

barathr wrote: post #7

I'd like to believe that something like this is possible, but I just don't get how this gets around the fact that every Joule that is used for bitcoin mining is a Joule that wasn't used somewhere else. Even if many Joules of renewable power get wasted during periods of overproduction (mid-day in the summer in California), other more worthwhile loads could be shifted to use that power, because today it's negative-pric…

"every Joule that is used for bitcoin mining is a Joule that wasn't used somewhere else"

Not really? Batteries have limited capacity so at the point where the grid cannot buy any and your battery is topped up, you're mining bitcoin.

Re: SolarBatteryBitcoin

#10

Post by jude- » Thu, Apr 22, 2021, 3:53 AM UTC

This really is the right idea. Making it profitable for PoW to consume excess solar energy has the downstream effect of spinning up more demand for solar energy in general.

You can hate Bitcoin and PoW all you want, but the genie is already out of the bottle. Even if you banned mining rigs (good luck with that), people would just mine it at home on their spare computers or use botnets. Either way, the only way we'll ever succeed in making PoW green is to make energy production itself green. And that's a problem we'd have to solve even if Bitcoin was never invented!