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A comment on Cambridge Bitcoin Electricity Consumption Index. Parent comment

Re:Cambridge Bitcoin Electricity Consumption Index by hummusman on Wednesday February 10, 2021 @10:24AM (#26090355)
When it became blindingly apparent that mining diamonds, gold and rare earth metals was proving harmful to societies (pollution, war etc.) countries put into place regulation to ensure that future mining would be conducted in ways to try and eliminate these harms.

Mining bitcoin is a growing contributor to energy consumption, and subsequently environmental damage and harm.

Similar precedent?

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Re:Cambridge Bitcoin Electricity Consumption Index by Taek on Wednesday February 10, 2021 @10:34AM (#26090503)
Kind of but not really. People aren't upset at _how_ bitcoin is using electricity, they are upset at how much bitcoin is using electricity.

If you want to save the environment, regulate the production of electricity irrespective of how that electricity is put to use. Let the market figure out how to allocate the electricity to various tasks.

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Re:Cambridge Bitcoin Electricity Consumption Index by chrisco255 on Wednesday February 10, 2021 @11:27AM (#26091233)
Energy consumption does not necessarily mean environmental harm. That's not a law of the universe at all.
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Re:Cambridge Bitcoin Electricity Consumption Index by mentalpiracy on Wednesday February 10, 2021 @11:47AM (#26091524)
Where do you think energy being consumed comes from?
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Re:Cambridge Bitcoin Electricity Consumption Index by chrisco255 on Wednesday February 10, 2021 @12:05PM (#26091810)
Depends on the source, right? For example, in Iceland it's mostly geothermal power plants. And that's why electricity is so cheap there, and that's why, despite being one of the smallest countries in terms of population, it is #4 for Bitcoin mining: https://www.cryptoknowmics.com/news/bitcoin-mining-top-5-cou...
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