Re:Bitcoin is not a Battery – it is a Sink
by dalbasal on Monday March 29, 2021 @04:09PM
(#26627524)
Thank you. Great writing.
I think the subject matter falls into a tricky space. You need to start with some sort of economist-ey bias to even think that bitcoin could be a battery... considering that it does not store energy or physically exist. Either way, it can be interesting to consider why or why not.
To me, it's interesting that this is a type example for mistake that knowing just enough economics makes you more prone to.
Anyway... I expected a bitcoin-ey article, so I came in with an eye roll. OTOH, I was kind of curious about the energy economics of bitcoin. You blazed through a great, concise explanation of the key facts en route to winning your argument. As a through-away, you perfectly framed the energy debate between bitcoin and etherium's approaches... trying not to start a fight with either of them before you finish the previous one.
I think the subject matter falls into a tricky space. You need to start with some sort of economist-ey bias to even think that bitcoin could be a battery... considering that it does not store energy or physically exist. Either way, it can be interesting to consider why or why not.
To me, it's interesting that this is a type example for mistake that knowing just enough economics makes you more prone to.
Anyway... I expected a bitcoin-ey article, so I came in with an eye roll. OTOH, I was kind of curious about the energy economics of bitcoin. You blazed through a great, concise explanation of the key facts en route to winning your argument. As a through-away, you perfectly framed the energy debate between bitcoin and etherium's approaches... trying not to start a fight with either of them before you finish the previous one.