Bitcoin as a Battery
nickgrossman.xyz
Bitcoin as a Battery
1–10 of 319 posts
Re: Bitcoin as a Battery
#2Well, call any anthropogenic CO2 amount in the atmosphere "battery" then...
Re: Bitcoin as a Battery
#3Well, call any anthropogenic CO2 amount in the atmosphere "battery" then...
The fact that said thing produces a lot of CO2 is not going to stop anyone from doing said thing if they enjoy it. Source: population growth.
Re: Bitcoin as a Battery
#4[deleted]
Re: Bitcoin as a Battery
#5It is not a battery if you cannot get electricity out when needed.
It's a weird analogy for something that does not store energy in any form
Re: Bitcoin as a Battery
#6A bit nonsensical imho. A battery by definition has to be able to produce the same type of energy that was put into it.
While correlating crypto with something random every week (Easter bunnies next Sunday?) can be marginally interesting, this instance makes no sense. We can't extract electricity from aluminum or Satoshis, we can buy it though, but that's outside of the battery scope.
Re: Bitcoin as a Battery
#7Interesting idea, not sure battery is the word for this, and there are already strong forces at work driving away fossil fuel.
Re: Bitcoin as a Battery
#8At first I thought the author makes fun of Bitcoin fanatics, but it appears he's actually serious?
This is just insane.
Re: Bitcoin as a Battery
#9An infuriating article. A better title would have been bitcoin as a way to use all the cheap electricity. I hope I'm being trolled.
Re: Bitcoin as a Battery
#10It is not a battery in the physical sense because it does not store energy.
What it does is, it allows you to transfer the economic utility of cheap local energy to regions where energy is more in demand.
Although, as the article itself highlights, this could also be done more efficiently with aluminum smelting, and other processes that are energy intensive but don't require much infrastructure.
From a purely financial point of view I suspect maintaining a bitcoin mining operation in remote areas is harder and requires more frequent upgrades than if you were doing a more traditional manufacturing process.