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Re:Bitcoin hashrate drops nearly 40% as deadly U.S. storm un... by epolanski on Monday December 26, 2022 @03:25PM (#34141456)
To give it another way to visualize it: every 25 hours the US pollutes as much as burning an entire 50 car long train full of coal for Bitcoin mining alone.
Re:Bitcoin hashrate drops nearly 40% as deadly U.S. storm un... by lucb1e on Monday December 26, 2022 @03:28PM (#34141492)
Wow, that's one heck of a visualization indeed. Is that based on the CO2-equivalent amount of coal or based on the amount of coal actually used in the USA grid? (Not saying that the former is 'inactual' or whatever, just to understand what this figure means.)
Re:Bitcoin hashrate drops nearly 40% as deadly U.S. storm un... by epolanski on Monday December 26, 2022 @04:09PM (#34141918)
Equivalent.
Re:Bitcoin hashrate drops nearly 40% as deadly U.S. storm un... by dragontamer on Monday December 26, 2022 @04:18PM (#34141988)
Perhaps it'd be more accurate to say "X BTUs of energy". BTU is the American unit of energy after all.

And then say that "50 railroad cars of coal" is equivalent to X BTUs.

I'm being pedantic. I think its well known that the US Grid is a complex mix of solar, nuclear, wind, and fossil fuels. It is also known that its mostly fossil fuels (natural gas, coal, and petrol), despite our best efforts to the contrary. So I think the visualization is pretty good. But a few additional words for clarity here would probably be better?

Re:Bitcoin hashrate drops nearly 40% as deadly U.S. storm un... by reisse on Tuesday December 27, 2022 @09:52AM (#34149146)
> BTU is the American unit of energy after all.

Come on, it is literally British!

Re:Bitcoin hashrate drops nearly 40% as deadly U.S. storm un... by yieldcrv on Monday December 26, 2022 @06:32PM (#34143120)
that really conflates energy use with emissions

thats not how the bitcoin mining sector works, its like you heard about one recommissioned coal plant in new york and assumed that was representative of anything

it isn't economical for miners to operate that way, whereas it is economical at some sources of renewable energy or redirecting energy from polluters - reducing emissions - so thats where the miners are

Re:Bitcoin hashrate drops nearly 40% as deadly U.S. storm un... by wvoch235 on Monday December 26, 2022 @10:04PM (#34144527)
This is true, but the renewable energy that was used to mine could have supplied the grid to reduce reliance on non-renewables.

If the renewable generation capacity was built entirely for the purpose of crypto mining and in other words, wouldn't have ever been built without it, you could argue that it's zero emissions (or more accurately, some miners are running effectively with zero emissions while others aren't).

However, since the supplies of renewable energy equipment are not unlimited, demand is already high (so you can't argue that you're driving innovation in the sector), and the production of said equipment is very much carbon positive (from mining to processing to transport), it's just not a very strong argument. If anything, mining with renewables reduces further investment in renewables for the grid as it drives equipment prices up, while still indirectly polluting the environment.

No matter how your slice it, terawatt hours of electricity are being used each year to run the networks, when the biggest problem we face as humans is a shortage of energy.

And I say all of this as someone who supports decentralized digital currency. We have a problem in our society where we obscure and mangle the narrative when something we dislike is true.

We should stop lying about what makes us uncomfortable and start focusing on the solutions to the problems. And there are plenty of reasonable options here:

1. Use the excess heat generated from mining to generate more electricity (with considerable efficiency loss) to supply the grid or to put back into the operation, or run any useful chemical process that requires heat.

2. Use the excess heat generated from mining to heat homes, buildings, etc.

3. Move to a more power efficient method of mining such as a PoS instead PoW. Or an entirely new method that hasn't been thought of yet.(Which, IMO, is the only way to prevent centralization once Quantum Computing or Fusion become commercially available).

Re:Bitcoin hashrate drops nearly 40% as deadly U.S. storm un... by rahen on Monday December 26, 2022 @06:52PM (#34143246)
A more insightful comparison would be between the CO2 emission for Bitcoin mining and for the traditional finance with its datacenters, heated offices, printed money (metals and paper), transportation etc.

Given that 60% of the energy consumed for Bitcoin is carbon neutral, this is probably an easy one.

Re:Bitcoin hashrate drops nearly 40% as deadly U.S. storm un... by ProjectArcturis on Monday December 26, 2022 @08:09PM (#34143779)
An easy one for traditional finance, you mean.
Re:Bitcoin hashrate drops nearly 40% as deadly U.S. storm un... by rstat1 on Monday December 26, 2022 @08:17PM (#34143841)
Energy consumed doing nothing of value, is substantially worse than energy consumed actually doing something.

So yes you are correct, it would be pretty easy win, but not for who you think.

Re:Bitcoin hashrate drops nearly 40% as deadly U.S. storm un... by quickthrowman on Monday December 26, 2022 @11:06PM (#34145000)
Traditional finance is what powers the global economy and financial system so I guess it is an easy one.
Re:Bitcoin hashrate drops nearly 40% as deadly U.S. storm un... by simplotek on Tuesday December 27, 2022 @04:04AM (#34146860)
> every 25 hours the US pollutes as much as burning an entire 50 car long train full of coal for Bitcoin mining alone.

It might be easier to visualize the energy waste by framing it as burning through a 48 car long train full of coal each and every single day to run Bitcoin mining alone.