Replying to Eternal Student

Bitcoin has been described as a "store of energy," but it's crucial to recognize that this phrase is metaphorical rather than literal. The idea is that the energy used in mining is "stored" in the value of Bitcoin as a digital asset.

However, it's essential to understand that Bitcoin, like other currencies, primarily serves as a medium of exchange. It can be used to purchase goods and services, including energy, but its capacity to do so depends on the existing infrastructure and resources in a given area.

An interesting aspect of Bitcoin mining is its flexibility in terms of energy consumption. Miners can turn their operations on or off depending on factors like energy costs, which helps manage overall energy usage. However, this doesn't mean that miners "add" energy to the system. Instead, they can adjust their energy use to maximize their mining profits.

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Eternal Student 2y ago

Today I heard someone mentioning this again I thought I would present their case. They had interestingly enough mentioned that there was a place that was mining bitcoin It was putting in additional power infrastructure.I think it's acceptable to say that bitcoin can be used to subsidize the building of power infrastructure because it will be used but that doesn't necessarily mean that it is power itself

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