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by sumeno
1701 days ago
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> when bitcoin actually meaningfully drives renewable production that is going to be essential in reducing those externalities. I am so sick of this bs argument from bitcoin apologists. Cryptocurrencies drive renewable energy in the same way lung cancer drives chemotherapy drugs. It doesn’t matter if renewable energy is built if that new energy is being wasted on cryptocurrency instead of replacing fossil fuel energy for something else. |
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yes it absolutely matters, because expanding the market of energy with renewable energy is unquestionably better than expanding it with fossil producers. bitcoin difficulty fluctuates with uncertainty in politics, demand for security and demand for the asset itself. when difficulty goes down - freed up energy can be used by other market participants and that will hurt profitability of fossil producers.
this is not bs argument, it's reality.
also, "energy is being wasted" is your subjective understanding.