Sure you won’t make money if you are lying 35c/kWh, but bitcoin could be seen as a way of exporting abundant renewable electricity from isolated areas.

For example: heavy industry that's located in Mexico instead of U.S for environmental regulation reasons.

Take a step back and look at what you're doing: lamely attempting to justify and carry the water for Bitcoin's horrible energy waste and pollution, when you already know quite well what the counterarguments to your ridiculous shilling and apologetic whataboutism arguments are.

https://en.wikipedia.org/wiki/Whataboutism

Your arguments have been thoroughly and widely debunked already, in glorious detail, and claiming you don't have enough time in your busy online shilling and gambling schedule to educate yourself by watching a factually accurate video about reality is a cop-out that shows you're afraid to look at the facts because you know you're wrong.

https://www.youtube.com/watch?v=YQ_xWvX1n9g

Surely you don't actually believe what you're saying, that factories are as useless as bitcoin, and already know why that is an invalid argument, so I should not have to remind you.

Or do you really not give a flying fuck about the environment or public health? Then say so.

I'm bending over backwards trying to give you the benefit of the doubt that you're not that dumb to believe your own argument that heavy industry justifies bitcoin, so if you've simply lost a lot of money gambling on cryptocurrencies and you're just trying to trick other suckers into covering for your unforced mistakes, then just admit it and stop pretending.

I think I'm not doing that. I'm just part of a conversation and my goal is not to make excuses for Bitcoin. Broadening the view and mentioning other facts doesn't mean that I make excuses for something else. I just don't want to argue pointlessly about this. I'm already in the "ban bitcoin" camp, so anything you try to say to convince me is also time wasted :)

I would advise, do more conversation and less argumentation on the forums

You're the one who is throwing whataboutism arguments around. So don't say you don't want to have an argument, after you started with an invalid whataboutism argument and an inconsistent position, in defense of another invalid argument that bitcoin is "a way of exporting abundant renewable electricity from isolated areas".

In case you haven't been paying attention for the past few years, of if you're only pretending to be incredulous, your argument and the argument you're defending are regularly made by bitcoin shills, and always shot down by the facts because they make no sense.

If you'd watch Line Goes Up or read any other comprehensive analysis critical of cryptocurrencies, you'd already know quit well how terribly bad and insincere your whataboutsim argument and the "exporting abundant renewable electricity" arguments you're defending are, and how thoroughly they have already been debunked, and how tired the HN community is of hearing them mindlessly parroted again and again.

You're not the first person to think of using whataboutism to justify bitcoin.

You're just very rude in your first reply. That's one thing.

The second thing is that I don't care to argue so much about bitcoin, so I just want to not be in your path, you seem to really be angry about this. That's fine, but I don't want to be in the way. Let me leave thanks.

Bitcoin uses electric power. So does electric cars, your iphone, lights that businesses leave on overnight. If you are against bitcoin because it uses power.. you really need to lobby for a law that would ban businesses polluting the night sky with lights that aren't needed.

The electricity is simply wasted, not exported. It cannot be used to do work anymore.

They should be able to, with the yearly supply of mined coins at just over 1% of the circulating supply.

Selling off large amounts will push the price down, simply because you're going to run out of people buying for the high price. Then people realize you're dumping coins, and then realize since you need to get rid of them, they can buy for cheaper since you need to unload them, so why spend more? And also the psychological aspects of dumping coins (why are miners dumping unless they thought they would go down).

So the same hardware that becomes useless when the btc price falls?

False. For westerners who have to pay market price on electricity that's true, but GPUs have still been used in geographic areas where dirty energy is super cheap of even free for the right connected people (China, Iran, Russia and former Soviet republics, disputed conflict zones in former Yugoslav states, etc.)

That's also where most of the mining is still happening.

Other coins are minable with GPUs (because their algorithm was purposely designed to be ASIC resistant)

But bitcoin has been exclusively ASIC mined since probably 2013 at least

Even with free electricity and stolen GPUs you cannot profitably mine bitcoin (you'd get a fraction of a penny a month, less than the cost of simply storing a gpu)

And even if you could mine it profitably, you would be better off mining the worst shitcoin instead, much less a reasonable alternative like ETH or RVN.

So instead of being dependent on central banks, crypto is dependent on inside knowledge held by plain criminals or at least very shady businessmen. That much about the openness and transparency in real life.

The discussion is not interesting. It is well-known GPUs are not used for mining BTC. Mining other cryptocurrency? Sure. BTC? No.

Not true. Almost 40% of the hashrate is being generated from the US. https://ccaf.io/cbeci/mining_map

How much intelligence is required to mine bitcoins?

[0] https://www.coindesk.com/business/2022/06/17/bitfarms-looks-...