21–30 of 91 posts
I'm genuinely curious when the fat lady will stop singing in regards to Bitcoin. I sort-of understand the allure of ETH and its derivatives ("programmable money" does bring something new to the table), but BTC is supposed to be a "value store" yet is down 30% from November; or it's supposed to be a "currency" but you can't use it as one; or it's supposed to be "decentralized" but mining is monopolized by a handful of…
We'll see how that holds up, especially since the Texas power grid seemed especially strained in the last little while.
Not many people seem to know that the power grid issue wasn't to do with the power grid... I think Texas will do well with crypto from what I understand. http://adam.curry.com/art/1613521813_mxdUgmnT.html
I'm genuinely curious when the fat lady will stop singing in regards to Bitcoin. I sort-of understand the allure of ETH and its derivatives ("programmable money" does bring something new to the table), but BTC is supposed to be a "value store" yet is down 30% from November; or it's supposed to be a "currency" but you can't use it as one; or it's supposed to be "decentralized" but mining is monopolized by a handful of…
It takes about $14 billion per year to maintain the current price given that new bitcoins are "mined", so that's the theoretical supply inflation right now not subtracting deflation from lost coins.
The gambling industry worldwide revenue is $219 billion.
That's just one theory of its value if its purely used for speculation. That said I still believe it could totally collapse at any time or perhaps hit an all time high and slowly decline from there, with several smaller rallies on its way down.
We'll see how that holds up, especially since the Texas power grid seemed especially strained in the last little while.
Not many people seem to know that the power grid issue wasn't to do with the power grid... I think Texas will do well with crypto from what I understand. http://adam.curry.com/art/1613521813_mxdUgmnT.html
https://energy.utexas.edu/sites/default/files/UTAustin%20%28...
Texas lost 30,000 MW of thermal power plants due to thermal maintenance and thermal forced outages (Page 18). In the face of unprecedented (but not unpredicted) demand, they had to load shed like crazy to save their grid.
It’s not a complicated story and has literally nothing to do with EPA clean air regulations.
Page 34 gives the breakdown by power plant type.. poorly prepared natural gas pipelines and power plants were essentially entirely responsible for the outage.
We'll see how that holds up, especially since the Texas power grid seemed especially strained in the last little while.
It's OK, if it gets too cold in Texas you can always fly to Cancun for a while, as shown by the example of some notable local politicians who espouse a "the free market will fix everything" philosophy.
To be fair, however, almost no community is ready for the effects of climate change (despite the reporting). In fact, most people have trouble with statistically rare events, so it doesn't surprise me. It's hard to say whether a government-managed endeavor would have been more prepared if I'm being completely honest.
So, what I gathered from this is that they will be using off-site power to run these "mining machines" while sucking up all the power they may get from solar they install and own at a time when those living there are experiencing blackouts in harsh weather conditions. Gotta love Texas!
This is not unique to Texas. Any private mining farm with its own electricity generation would operate like this.
Always a good idea to build and consume renewable energy and then making heat out of it. Texas power grid sounds very good: cheap and reliable. Ah wait wait we talk about searching for arbitrary hashes which can't be recycled or actually used in a state which probably needs AC in summer and an independent unstable power grid in a time were every additional CO2 generated creates even more pressure for our society. Per…
BTC providing demand for renewables stimulates the development of renewables. Any massive investment like in renewables carries a risk, and the higher the demand the lesser the risk for the investment on the supply side.
Earlier quoted context omitted.
BTC providing demand for renewables stimulates the development of renewables. Any massive investment like in renewables carries a risk, and the higher the demand the lesser the risk for the investment on the supply side.
Using organs as dog food also stimulates the organ donation market. Still, maybe it's best to use our current stock wisely.
Always a good idea to build and consume renewable energy and then making heat out of it. Texas power grid sounds very good: cheap and reliable. Ah wait wait we talk about searching for arbitrary hashes which can't be recycled or actually used in a state which probably needs AC in summer and an independent unstable power grid in a time were every additional CO2 generated creates even more pressure for our society. Per…
"Good idea to build and consume renewable energy" A deeper dive: they aren't renewable, they're at best rebuildable: https://www.youtube.com/watch?v=qYeZwUVx5MY&t=2682s - (Dr. Nate Hagens - Earth and Humanity: Myth and Reality - Myth #21: Renewables Can Power THIS Civilization)
I find your YouTube video neither insightful nor informative. It reads as a string of desperate attempts at gotchas, only possible by repeatedly moving goalposts and misrepresenting positions, which are at best immaterial to the discussion.
I mean, the main point the YouTuber made against renewables is that different energy generation and distribution methods have different properties. Who exactly is expected to take seriously this blend of simplistic fatecious line of reasoning?
> "Bitcoin Experts" What does that even mean?