The Blockchain Is a Dark Forest

Re:The Blockchain Is a Dark Forest by okl on Sunday March 21, 2021 @02:33PM (#26532686)

I want to add two things:

- The visualization used by the author shows US energy consumption while ~65% of mining takes place in China[0] where burning coal remains the dominant energy source.[1]

- Miners run 24/7/365, they add to the baseload!

[0] - https://www.statista.com/statistics/1200477/bitcoin-mining-b...

[1] - https://www.eia.gov/international/analysis/country/CHN

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Re:The Blockchain Is a Dark Forest by astkaasa on Monday March 22, 2021 @01:47AM (#26537220)

I guess you have made a wrong conclusion: coal dominance in total does not conclude to coal dominance for mining. Because mining factories are very sensitive about the energy price, they are mostly built near locations where energy is cheap enough and will be wasted if not consumed locally by the mining or transmitted to other places in time.

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Re:The Blockchain Is a Dark Forest by formerly_proven on Monday March 22, 2021 @09:26AM (#26540449)

People keep saying this yet https://www.aljazeera.com/economy/2021/1/22/iran-crypto-mine...

98 % of the electricity in Iran is generated from burning either gas or oil. https://www.eia.gov/international/analysis/country/IRN

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Re:The Blockchain Is a Dark Forest by agumonkey on Sunday March 21, 2021 @05:17PM (#26534164)

Can't china dump solar panel on its own market so miners run off grid and clean ?

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