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by kuhewa
1181 days ago
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> The majority of Bitcoin mining is done exclusively using clean renewable energy sources. Do you have evidence that over half of miners are on exclusively clean energy? That is a slightly different claim than this industry group recently makes about the overall energy mix: "the global bitcoin mining industry’s sustainable electricity mix has improved marginally to 58.9% and remains one of the most sustainable industries globally."[1] Regardless, I'd have to consider myself unimpressed when a) almost half of a large amount of energy used isn't sustainable b) at least some of that usage is simply pushing other would-be consumers of renewable energy onto fossil fuel sources, regardless if some of what is used for crypto is purely excess production, and c) unlike the other industries refered to in the quote, this industry's additions to society are negligible d) the vast majority of the energy burden is self-imposed. It is a very peculiar situation to feel compelled to try to defend, I imagine. 1 https://bitcoinminingcouncil.com/bitcoin-mining-council-surv... |
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Per the Bitcoin Mining council,
> 58.9% of global Bitcoin mining uses sustainable (i.e. renewable) energy
58.9% > 50% and higher than any other industry. What am I missing?
> a) almost half of a large amount of energy use isn’t sustainable
Per your own source, it isn’t almost half renewable globally. It it over half renewable (58.9%) which is higher than any other industry.
> b) at least some of that usage is simply pushing other would-be consumers of renewable energy onto fossil fuel sources, regardless if some of what is used for crypto is purely excess production,
Per the 4th point in my parent comment, using the example of the Texas grid which relies heavily on wind power, not only is Bitcoin mining uniquely suited to consume otherwise wasted intermittent power.
By doing so it actually strengthens the resilience of the energy grid by making a higher baseline energy capacity available to offset spikes in demand.
I challenge you to find a real-world example of Bitcoin mining pushing any other would-be consumers of renewable energy onto fossil fuel sources.
In fact, it is exactly the opposite. Bitcoin subsidizes building new renewable capacity by enabling grids to monetize highly variable solar and wind energy output. Most other industries rely on consistent power, which Bitcoin mining provides by monetizing otherwise unused variable capacity.
> c) unlike the other industries refered to in the quote, this industry's additions to society are negligible
It is your opinion, cited without substantiation that Bitcoin’s security model has negligible value for society. My bullet #5 in the parent comment cites several examples, so clearly me and hundreds of millions of Bitcoin holders disagree.
> d) the vast majority of the energy burden is self-imposed
I don’t understand the point of your last comment. How does the energy burden of Bitcoin mining compare with the energy Burden of the US military industry which consumes 1 million times the energy, mostly from fossil fuels?