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zherbert commented on Kazakhstan to restrict crypto miners amid power shortages   eurasianet.org/kazakhstan... · Posted by u/UglyToad
Aretas77 · 4 years ago
Take the benefits and double them up to get the drawbacks.

The components used for mining could have much better use cases and the raw material shortage does not make this easier.

I doubt that mining is the reason why countries/companies/people are pushing for that cheaper green energy.

Additionally, the cryptocurrency market right now is a mess, an online casino one might say, where only few can benefit.

And to push prices up, people are encouraging others to buy them, to push the prices up more and not because they believe in the future.

zherbert · 4 years ago
You think the current global financial system is energy efficient? How about the raw materials used by global militarizes financed by unending money printing? If you fast forward a couple decades, and Bitcoin becomes the global reserve currency, mining will be far more efficient than the amount of enormous military spending and middle-eastern oil production financed by fiat currencies and the petrodollar standard.

You people are advocating for shutting down one of the most important human advancements of all time – money that is directly linked to energy.

zherbert commented on Kazakhstan to restrict crypto miners amid power shortages   eurasianet.org/kazakhstan... · Posted by u/UglyToad
labster · 4 years ago
Bitcoin mining uses up all of the efficiency gains from energy saving over the past decade, and more. Bitcoin incentivizes carbon production by keeping electricity demand artificially high, even dedicating entire coal power plants to a single mining location. Therefore, cryptocurrency has already guaranteed we will never have time to advance on the Kardashev scale.
zherbert · 4 years ago
That's preposterous, Bitcoin incentivizes production of whatever energy is cheapest. That does not necessarily mean fossil fuels, though it is often that those are cheaper.

Hydro is a perfect example. A sizeable percentage of all Bitcoin mining is done with cheap hydro.

Bitcoin will do the same for nuclear, making it cheap and plentiful.

zherbert commented on Kazakhstan to restrict crypto miners amid power shortages   eurasianet.org/kazakhstan... · Posted by u/UglyToad
zherbert · 4 years ago
Bitcoin mining incentivizes the plentiful production of cheap electricity. This will make it so that there are no such thing as power shortages in the future and push us towards a Type I civilization on the Kardashev scale.

Bitcoin mining reduces the risk for energy generation projects, because they no longer need to worry about who will purchase the extra capacity.

Bitcoin mining can act as a load-balancer for the grid – spin down some machines if there is high demand, spin up machines if there is low demand.

There are so many benefits. It is unfortunate that there is a serious lack of understanding on this website.

zherbert commented on Falling Out of Love with Apple, Part 3: Content and Censorship   hardware.substack.com/p/f... · Posted by u/zherbert
zherbert · 5 years ago
Wow, honored our post is so upvoted and discussed! In case anyone wants to read the prior posts in our series, links below!

Part 1: Software and Services https://hardware.substack.com/p/falling-out-of-love-with-app...

Part 1.5: macOS Privacy Scandal and App Store Policy https://hardware.substack.com/p/falling-out-of-love-with-app...

Part 2: Hardware and Accessories https://hardware.substack.com/p/falling-out-of-love-with-app...

u/zherbert

KarmaCake day422July 1, 2011View Original