Bitcoin as a flexible load has utility, the misappropriation of the word 'battery' does not.
Bitcoin as a Battery
151–160 of 319 posts
Re: Bitcoin as a Battery
#152Re: Bitcoin as a Battery
#153Earlier quoted context omitted.
This is an excellent take on why the Grossman's idea is plainly idiotic [0]. You don't get more bitcoin for more electricity, you just get more security. The system itself can reach a state when you need 51% of whole planet electricity and computation devices locked into it to be perfectly secure. Thats frankly scary. [0] https://elad-verbin.medium.com/bitcoin-is-not-a-battery-it-i...
Idiotic all the way. If aluminum can be perceived as a battery, then everything else can be. "Poop as a Battery (PaaB)" (am I the first to use this?)(no I won't DDG it). In that sense, Bill Gatess "Reinvented Toilet" does kinda the same. People pee and poop, sewage is processed and is converted to clean water and can produce energy [0]. Thus PaaB(!?) [0]: https://www.elitereaders.com/waterless-toilet-system-generat..…
Poop can be a microbial power source at waste treatment plants with the right tech. Unlike btc it pulls power from waste streams and makes it available.
Re: Bitcoin as a Battery
#154Re: Bitcoin as a Battery
#155What the hell is is with cryptocurrency proponents and trying to redefine words to suit their narrative? First Bitcoin was NOT fiat currency (despite being one of the most fiat currencies by definition), then it was also a store of value (despite it being a horrible store of value, a high-risk high-reward investment is more accurate). Now it's supposed to be a battery? When the energy being put into it is basically p…
You need to have a triadic understanding of bitcoin, this is what allows it to be a flat currency, a store of value, and a battery at both one and the same time, through the act of transubstantiation of the coin a quantum state is triggered that allows the individual coin to choose which form it will manifest itself as.
Re: Bitcoin as a Battery
#156What the hell is is with cryptocurrency proponents and trying to redefine words to suit their narrative? First Bitcoin was NOT fiat currency (despite being one of the most fiat currencies by definition), then it was also a store of value (despite it being a horrible store of value, a high-risk high-reward investment is more accurate). Now it's supposed to be a battery? When the energy being put into it is basically p…
'Pure waste' is very much a point of view. If you dislike porn, the entire energy to create and distribute that, is 'pure waste' in your view (last time I looked, streaming porn consumes about the same amount of energy as Bitcoin. This probably changed by now). If, like me, you dislike billboards, all those giant flaring screens, burning neon, or LCD pixels, screaming to make you buy Pepsi, is 'pure waste'.
If you dislike Bitcoin, obviously any kilowatt used by it is 'pure waste'.
Re: Bitcoin as a Battery
#157This seems like a pretty flawed idea and an attempt to justify the incredible amount of electricity required by bitcoin. If bitcoin was changed to require a fraction the amount of electricity all of these ideas would suddenly fall apart. Building renewable energy sources in the middle of nowhere to power a bitcoin farm is just completely nonsensical and does noting to help with the shift to renewables.
Bitcoin mining is good for the environment https://pomp.substack.com/p/bitcoin-mining-is-good-for-the-e...
I was told the existing financial system uses more power than Bitcoin, so doesn't that make it even better for the environment because they want even more clean power than Bitcoin?
Re: Bitcoin as a Battery
#158Re: Bitcoin as a Battery
#159What the hell is is with cryptocurrency proponents and trying to redefine words to suit their narrative? First Bitcoin was NOT fiat currency (despite being one of the most fiat currencies by definition), then it was also a store of value (despite it being a horrible store of value, a high-risk high-reward investment is more accurate). Now it's supposed to be a battery? When the energy being put into it is basically p…
'Pure waste' is very much a point of view. If you dislike porn, the entire energy to create and distribute that, is 'pure waste' in your view (last time I looked, streaming porn consumes about the same amount of energy as Bitcoin. This probably changed by now). If, like me, you dislike billboards, all those giant flaring screens, burning neon, or LCD pixels, screaming to make you buy Pepsi, is 'pure waste'. If you di…
A waste by most societal measures. Purely imaginary point backed by nothing that is easily defrauded and highly volatile. With no societal or personal value. And we've chosen to burn gigawatts of energy on this foolish game. Its easy to see it as enormous waste.
Re: Bitcoin as a Battery
#160Bitcoin enthusiast here. Pretty surprising how antagonistic the HN crowd is to bitcoin.