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A comment on China says it wants to eliminate Bitcoin mining. Parent comment

Re:China says it wants to eliminate Bitcoin mining by wickoff on Tuesday April 09, 2019 @06:43AM (#19613323)
It's not quibbling over details. Bitcoin miners often place their mining farms near power plants and consume electricity that would've been wasted otherwise. A lot of it comes from renewable sources.

At the present moment network users are collectively paying about $700 000 a day in tx fees, so clearly the network itself creates value.

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Re:China says it wants to eliminate Bitcoin mining by ForHackernews on Tuesday April 09, 2019 @07:55AM (#19613681)
> consume electricity that would've been wasted otherwise

[citation needed]

But even if that were true, it would be disincentivizing the deployment of grid-scale storage technologies, so still hurting the battle against climate change.

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Re:China says it wants to eliminate Bitcoin mining by flatfilefan on Tuesday April 09, 2019 @11:37AM (#19615717)
It seems there are no grid-scale storage technologies that wouldn’t already be integrated into the current designs. Hydropower dams are ones for example. Engineers are not stupid.
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