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SolarBatteryBitcoin

github.com

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Re: SolarBatteryBitcoin

#111

Post by nyolfen »

rcMgD2BwE72F wrote: post #105
speeder wrote: post #98

Earlier quoted context omitted.

A lot of people need bitcoin. It is really useful to hoard! Not to ge rich, but to avoid getting poorer in countries with rampant inflation. Also it facilitate money transfers a lot. Yes, a transaction in bitcoin is expensive, but a international wire transfer on my country for example is EVEN MORE expensive, so transferring money using Bitcoin, even after eating all the fees, is cheaper (and easier too). So people t…

>It is really useful to hoard! Not to ge rich, but to avoid getting poorer in countries with rampant inflation. >Also it facilitate money transfers a lot. You do realize that, because the total number of bitcoins is limited, it will get harder and harder to get bitcoins? So every generations will have to work/fight harder to get their currency, which is extremely unfair? Why would a newborn have more trouble to get h…

your comment only makes sense if it's interpreted as describing a world where bitcoin conquers the world and there is no other kind of money

> Only because we _currently_ lack trust? If so, shouldn't we focus on that instead?

my friend, if you can solve the problems of trust in human social systems, you will have solved a lot more than decentralized digital cash

Re: SolarBatteryBitcoin

#112

Post by shlant »

rcMgD2BwE72F wrote: post #105
speeder wrote: post #98

Earlier quoted context omitted.

A lot of people need bitcoin. It is really useful to hoard! Not to ge rich, but to avoid getting poorer in countries with rampant inflation. Also it facilitate money transfers a lot. Yes, a transaction in bitcoin is expensive, but a international wire transfer on my country for example is EVEN MORE expensive, so transferring money using Bitcoin, even after eating all the fees, is cheaper (and easier too). So people t…

>It is really useful to hoard! Not to ge rich, but to avoid getting poorer in countries with rampant inflation. >Also it facilitate money transfers a lot. You do realize that, because the total number of bitcoins is limited, it will get harder and harder to get bitcoins? So every generations will have to work/fight harder to get their currency, which is extremely unfair? Why would a newborn have more trouble to get h…

> You do realize that, because the total number of bitcoins is limited, it will get harder and harder to get bitcoins?

while I don't really agree with the bitcoin maxi mindset of the comment you are replying to, do you know that you can buy as little as 1 satoshi? (0.00000001 BTC). Yes, eventually all BTC will be mined (in about 2140) but considering 1 sat is currently worth 0.0006 USD, there is still quite a bit of room for very small amounts of bitcoin being widely accessible (fees being a different issue that will improve with time).

Re: SolarBatteryBitcoin

#113

Post by UncleMeat »

krageon wrote: post #47
lottin wrote: post #34

Earlier quoted context omitted.

Unlike Bitcoin, the Snapchat data centre isn't designed to waste as much electricity as fast as it possibly can. Bitcoin is designed to be wasteful, so don't be surprised if people takes issue with that.

Literally every joule that goes into snapchat datacenters is wasted. It's not necessary, it doesn't make anything happy and it's primarily a way for a large company to harvest a lot of data on young people. Nobody wins with the way this power is used.

But Snapchat has fixed computation needs. If they figure out how to run everything on 50% of the power, their emissions go down by 50%.

BTC has no such property. Make it 1,000 times more efficient to compute hashes and you just hash 1,000 times faster. No change in power use.

Re: SolarBatteryBitcoin

#114

Post by throwaway4good »

jillesvangurp wrote: post #79

The premise is that there no more worthier causes than bitcoin beyond the grid needs. That premise is simply false. You can use excess grid capacity for lots of useful things including water desalination, charging cars at off peak hours, producing hydrogen. These are all applications that can flexibly use clean/cheap power when it is available instead of putting a constant load on the grid. This solution would compet…

I haven’t looked at the details of the calculations but one of problems with mining is that mining hardware deprecates and therefor it needs to be used now - in two years more energy efficient hardware will render it useless.

So the idea of switching it on and off according to energy prices doesn’t really hold.

Re: SolarBatteryBitcoin

#115

Post by dmitriid »

nyolfen wrote: post #111
rcMgD2BwE72F wrote: post #105

Earlier quoted context omitted.

>It is really useful to hoard! Not to ge rich, but to avoid getting poorer in countries with rampant inflation. >Also it facilitate money transfers a lot. You do realize that, because the total number of bitcoins is limited, it will get harder and harder to get bitcoins? So every generations will have to work/fight harder to get their currency, which is extremely unfair? Why would a newborn have more trouble to get h…

your comment only makes sense if it's interpreted as describing a world where bitcoin conquers the world and there is no other kind of money > Only because we _currently_ lack trust? If so, shouldn't we focus on that instead? my friend, if you can solve the problems of trust in human social systems, you will have solved a lot more than decentralized digital cash

We've been solving the problems of trust literally for millennia. For some reason bitcoin apologists pretend history never happened, and painstakingly attempt to re-create the trust systems humans have had in place, once again literally, for millennia.

Re: SolarBatteryBitcoin

#116

Post by yifanl »

shlant wrote: post #112
rcMgD2BwE72F wrote: post #105

Earlier quoted context omitted.

>It is really useful to hoard! Not to ge rich, but to avoid getting poorer in countries with rampant inflation. >Also it facilitate money transfers a lot. You do realize that, because the total number of bitcoins is limited, it will get harder and harder to get bitcoins? So every generations will have to work/fight harder to get their currency, which is extremely unfair? Why would a newborn have more trouble to get h…

> You do realize that, because the total number of bitcoins is limited, it will get harder and harder to get bitcoins? while I don't really agree with the bitcoin maxi mindset of the comment you are replying to, do you know that you can buy as little as 1 satoshi? (0.00000001 BTC). Yes, eventually all BTC will be mined (in about 2140) but considering 1 sat is currently worth 0.0006 USD, there is still quite a bit of…

The price (and therefore value?) of satoshis rise/fall at the exact same rate as a price of a bitcoin, so I don't see how this invalidates their argument.

Re: SolarBatteryBitcoin

#117

Post by fiatSuxxxx »

jillesvangurp wrote: post #79

The premise is that there no more worthier causes than bitcoin beyond the grid needs. That premise is simply false. You can use excess grid capacity for lots of useful things including water desalination, charging cars at off peak hours, producing hydrogen. These are all applications that can flexibly use clean/cheap power when it is available instead of putting a constant load on the grid. This solution would compet…

If the government didn't print infinity money/back fractional reserve banking Bitcoin wouldn't be necessary or popular.

Bitcoin and Gold ownership is a response to fiscal irresponsibility.

Also all this "but energy could be used for x,y,z" is weak. Why not only use a flashlight around your house at night? Why'd you turn on 4 lights every time you enter your kitchen? Do you really need heat/AC on in spring and fall?

Re: SolarBatteryBitcoin

#118

Post by ideamotor »

A sucker is born every minute. I tell you what, I’ll go write an article showing it would have made sense to use money from selling solar power to the grid on buying a house in Austin before prices went up 30% in the past year. Why not spend all the money? Try to get this logic past a financier. This is truly laughable. I can’t wait for the update that includes February “snowvid” $9k/MWh prices. The author will think they are a genius. LOL. GTFO.

Re: SolarBatteryBitcoin

#119

Post by adrianN »

nyolfen wrote: post #111
rcMgD2BwE72F wrote: post #105

Earlier quoted context omitted.

>It is really useful to hoard! Not to ge rich, but to avoid getting poorer in countries with rampant inflation. >Also it facilitate money transfers a lot. You do realize that, because the total number of bitcoins is limited, it will get harder and harder to get bitcoins? So every generations will have to work/fight harder to get their currency, which is extremely unfair? Why would a newborn have more trouble to get h…

your comment only makes sense if it's interpreted as describing a world where bitcoin conquers the world and there is no other kind of money > Only because we _currently_ lack trust? If so, shouldn't we focus on that instead? my friend, if you can solve the problems of trust in human social systems, you will have solved a lot more than decentralized digital cash

In practice the problem of trust is not a big deal, otherwise nobody would be able to trade anything.

Re: SolarBatteryBitcoin

#120

Post by MrMan »

jillesvangurp wrote: post #79

The premise is that there no more worthier causes than bitcoin beyond the grid needs. That premise is simply false. You can use excess grid capacity for lots of useful things including water desalination, charging cars at off peak hours, producing hydrogen. These are all applications that can flexibly use clean/cheap power when it is available instead of putting a constant load on the grid. This solution would compet…

I agree we already have a system of money and trust. Bitcoin energy demands will scale much more than any other uses of the energy grid going forward, so our entire economy becomes slaved to preserving bitcoin. A dystopia
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