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by arcticbull 1144 days ago
Mining does zero useful productive work. That's the point. That's how it has to work. It's literally a proof of waste system. Each unit of wasted energy should be spent doing something useful. If you economically incentivize waste, there's no market signal to utilize the power to productive ends.

So if there's a small amount of power, you get no yield from mining. If there's a lot of power, you can afford to connect it to the grid. If there's a medium amount of power, decommission some of the supply - or never build it in the first place. All three options are better that using it to probabilistically guess at nonces and prove you expended it on nothing of value - and get paid for it.

1 comments

We are not measuring what YOU personally believe is "useful productive" work. We are measuring if there is a way to extract economic value (payment) for stranded energy.

> So if there's a small amount of power, you get no yield from mining.

You are going in circles. The amount of mining you can do is exactly proportional to the available power. It does not suddenly go to zero. If the yield or profit is greater than the costs, it is economically worthwhile.