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0 sats \ 1 reply \ @relc OP 24 Nov 2021 \ parent \ on: Ban Bitcoin mining to save the environment, say Swedish authorities bitcoin
"Vattenfall, Sweden’s state-owned power company, has pointed out that crypto mining is not necessarily a problem. In fact, the company has pointed out that it has the potential to be a solution to some of the challenges that energy producers are faced with.
Vattenfalls’ Head of Physical Power Management, Henrik Juhlin, said that crypto mining represents an ideal way to balance the load on electric grids, particularly when the power supply varies. This is currently the case in Sweden and any country that relies on renewable power sources.
Juhlin said, “[The crypto miners] can both reduce and increase their consumption [of energy]. It can work as a buffer, so to speak, for the production of energy.” He went on to explain that miners can consume electricity whenever there is a surplus and switch off their machines when there is a shortage of electricity. This makes it an effective tool for grid management. "
it may just be the case that politicans in countrys trying to ban mining have poor understanding of enegry production transport and use or do not trust their power providers to provide power not only to bitcoin but to the people.
everytime i get the muh prove of work fud from well educated it specialsts i tend to tell them if mining is a problem how can it be that energy is so cheap? if energy would be priced in terms of production cost and not in terms of market overproduction and underbidding the others noone in europe but the ones using the buffer function or the produced heat could mine bitcoin with a timed profit for a long time.
energy prices have to go up then co2 emissions and waste will go down. mining with thermal energy from the planet in remote locations is the way to go long term.
bitcoin has the incentive built in and soon mining will not compete with humans enegy consumption.
let them ban it where they want - somone will buy old miners and used solar panels and go to the desert to mine.
when we sarted to mine in the old days we would never imagine that either miners or power would be an issue some day. today it seems like silicium is more a bottleneck than energy. when taiwan would ban producing mining hardware or they would build anti mining circuits in multi use hardware then we would still have the old hardware.
either way... if we like it or not... stopping pow or changing it requires global consensus.
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