Re:FTX US’s wallets appear to be hacked, $600M leaving the e...
by kevinak on Saturday November 12, 2022 @03:57PM
(#33576992)
No, I've never claimed that. Regardless of what you think about Bitcoin, if it's useless or not, don't you agree that net negative is better than zero?
Burning methane (flaring) is most definitely an improvement over not doing it. That's just a fact. It accounts for about 20% of global emissions and is 25 times as potent as CO2. https://www.epa.gov/gmi/importance-methane
You would use Bitcoin mining as a monetary incentive to flare methane. You could do other things but it requires more infrastructure investment and might not even be possible in certain locations that are far from where the electricity would be used.
Re:FTX US’s wallets appear to be hacked, $600M leaving the e...
by ipython on Saturday November 12, 2022 @05:35PM
(#33577854)
I would agree that not performing useless computations is better than performing useless computations. If monetary incentives are all we need, then just use tax incentives to do so. That seems much easier than shipping mining rigs and the corresponding cooling to locations apparently too far from civilization to produce energy for anything useful.
Re:FTX US’s wallets appear to be hacked, $600M leaving the e...
by kevinak on Saturday November 12, 2022 @06:35PM
(#33578343)
A tax would result in a cost for the business.
Bitcoin mining results in a profit.
Why would you pick the first one?
Transporting miners is not the hard part, you just keep them in containers. What is hard is building the necessary stuff to actually flare the gas properly.
Oh and increasing the power usage of this fire pile will, as you say, “improve the current situation”?
Your point is that the only way we can avoid burning methane is to use that to power bitcoin mining rigs???