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by ohgodplsno 1951 days ago
Right. 60% of the hashrate in China, where 60% of the power comes from coal, to mine a useless coin.

If miners could burn cyanide to mine, they would. They don't give a single shit about clean energy, just cheap energy

1 comments

so upwards of ~36% of Bitcoin mining is coal powered. yes, that fits all the estimates that Bitcoin mining is almost a supermajority using renewable energy at some plants and and curbing pollution as a sustainability solution at other plants.
1/ Bitcoin itself might be 100% on renewables. But it's still causing a need for non renewables to be used, to compensate for the fact that you're mining a useless coin. I'd rather have us use this energy in a useful way.

2/ Bitcoin is causing _more_ energy consumption. It's not curbing pollution, in any way. It's just grafting itself where the energy is cheap. Noone's building wind farms for bitcoin.

3/ If I cut off 36% (which is a low bound, other countries are not clean either) of your salary, go ahead and tell me it's okay because you still have the supermajority of it.

2/ at flare gas plants bitcoin is curbing pollution, and this helps the plants and the state meet their climate goals. yes their pursuit of cheap power is what takes them where they are, an economic incentive for sustainability solutions that 50 years of idealists never were able to consider and are now fighting to ignore because this solution doesnt decrease energy use.

3/ I’m not sure what you are saying here? Is this supposed to be an analogy to something? What happens if you get rid of that energy use? The bitcoin network will adapt to a lower difficulty rate... not sure what you think you’re saying here.