21–24 of 24 posts
Ethereum has changed its monetary policy on the whims of few influential people, including Vitalik Buterin. It is currently deflationary, but now eveyone knows that this can change overnight if the right (few) people want it. With this change it further renounced to its chances to be a replacement of Bitcoin, so it won't bury it, and this eulogy is comical at best... like the hundreds of previous ones from other toke…
Earlier quoted context omitted.
It incentivises using the cheapest energy which is renewable. Bitcoin could even be greenhouse negative - just stick a mine on top of every landfill around and you have a recipe to get rid of methane gas. Or on oil fields where they accidentally run into gas pockets. Looks to me like GHG emissions are going down this year, from that report. I would expect that to continue going forward as more miners are deployed on…
Isn't every energy consumer incentivized to use the cheapest available energy source? In case of a landfill, there probably is a city nearby which would benefit from cheap electricity. Perhaps miners have an advantage over a city in that they can move or disable mining rigs in times when renewables are scarce. But from what I understand Asics are expensive, and running them is big business. Which probably means they…
When there's a constant energy source like a flare, it must be used in realtime.
Too much energy is even a problem for the grid (see negative electricity prices that have occurred in, e.g. China).
The only alternative is batteries, which are expensive and have their own problems.
May as well use that energy for securing a neutral public utility financial network/money system.
By the way, check out how much energy the traditional financial systems use:
- Data centers - Trucks/logistics - Security - Military (to secure national currencies such as USD) - etc.
“ The sun is setting on the era of Bitcoin dominance. ” The only thing that will do that is govt regulation.
Whatever the gold, silver and crypto people say. I see that crypto is just extension of traditional market casinos.
Earlier quoted context omitted.
Isn't every energy consumer incentivized to use the cheapest available energy source? In case of a landfill, there probably is a city nearby which would benefit from cheap electricity. Perhaps miners have an advantage over a city in that they can move or disable mining rigs in times when renewables are scarce. But from what I understand Asics are expensive, and running them is big business. Which probably means they…
Not really. When there's a constant energy source like a flare, it must be used in realtime. Too much energy is even a problem for the grid (see negative electricity prices that have occurred in, e.g. China). The only alternative is batteries, which are expensive and have their own problems. May as well use that energy for securing a neutral public utility financial network/money system. By the way, check out how muc…
To be honest I know too little about mining costs to dispute this. The Cambridge article about BTC mining using mostly fossils supports my point though. Having said that, I hope you guys are right in Bitcoin mining making energy greener.