Re:Cambridge Bitcoin Electricity Consumption Index
by iagovar on Wednesday February 10, 2021 @09:39AM
(#26089690)
I think that you miss the tradeoff. By using so much electricity, we have:
1) It's not being stored (where they do). In some places they pump water or use other methods, which help to aliviate demand/offer tension when needed.
2) It's actually pushing prices up in the demand side, which means it's making everything else more expensive.
3) If Bitcoin really becomes widely adopted, this problem will increase by who knows how much.
In a setting where we're worried about the impact of our energy pipeline, the use of bitcoins goes the other way around.
1) It's not being stored (where they do). In some places they pump water or use other methods, which help to aliviate demand/offer tension when needed.
2) It's actually pushing prices up in the demand side, which means it's making everything else more expensive.
3) If Bitcoin really becomes widely adopted, this problem will increase by who knows how much.
In a setting where we're worried about the impact of our energy pipeline, the use of bitcoins goes the other way around.