Discover and read the best of Twitter Threads about #BitcoinMining
Most recents (1)
Great points on #BitcoinMining energy consumption by @aantonop:
1. Energy used by Fiat #currencies are hidden yet enormous;
2. #Bitcoin incentivises #greenenergy via economic benefits to #energycompanies as a store of value for non-distributable energy.
1. Energy used by Fiat #currencies are hidden yet enormous;
2. #Bitcoin incentivises #greenenergy via economic benefits to #energycompanies as a store of value for non-distributable energy.
With Fiat currencies we're not questioning the costs of global payment networks, data centres for payment services providers and banks, their office buildings, computers, printing/minting/transportation of notes/coins and so on. It's taken for granted.
The latter, where unused energy of wind/solar that exceeds battery storage capacity can produce #Bitcoin, thus shortening the return on investment of renewable energy. This return can then be used to reinvest in real energy storage capacity.
