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A comment on El Salvador Plans to Use Electricity Generated from Volcanoes to Mine Bitcoin. Parent comment

Re:El Salvador Plans to Use Electricity Generated from Volca... by wyager on Friday June 11, 2021 @12:40PM (#27475515)
The economics of geothermal are often unfavorable for consumer/industrial electricity production. Bitcoin mining is unique in that provides a consistent consumer for electricity at a reliable price 24/7.

The long-term effect of Bitcoin mining will probably be to subsidize the creation of reliable constant-output power sources like geothermal and nuclear, with some of that capacity being used for consumer/industrial usage during peak hours.

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Re:El Salvador Plans to Use Electricity Generated from Volca... by adrianN on Friday June 11, 2021 @12:45PM (#27475588)
"a reliable price" until the bubble pops?
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Re:El Salvador Plans to Use Electricity Generated from Volca... by wyager on Friday June 11, 2021 @02:06PM (#27476621)
If the price of Bitcoin goes down, it will reduce demand starting at the most expensive power sources used to mine Bitcoin. There is a lot of “buffer” for something like geothermal before Bitcoin falls enough for it to get axed.
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