The state of low carbon policy in some jurisdictions 🙃
#Bitcoin #BitcoinIsCleanTech
Discussion
But that's actually reasonable because heat pump efficiency is 300-400%, while ASICs max out at 100%
Just saying...
Oh, but if you cascade the miner and the heat pump you can get 500-600% 🤷
Oh sure, just break a few laws of physics 😂
Which law do you think this would break? This was a matter of fact statement.
First law of thermodynamics, unless you have a more interesting way of cascading than I can think of. If you cascade, that means you convert electricity to heat in an ASIC at 100% efficiency, then use the heat as on input to a ~400% efficiency heat pump. How does that get you to >400%? The 100% portion pulls your efficiency down.
You gain already about 100% by switching from air-water to water-water. Then on top you get the heat pump to extract the heat from the water more efficiently by preheating it with the miner. Finally, you can use the cooled water to cool the miner, increasing the efficiency of the miner and reducing the power needed to cool it.
The first law of thermodynamics wouldn’t even allow to reach 100%.
These high numbers are only valid, because the heat pump isn’t a closed system and it purposely draws in energy from the outside.
Go talk to a physicist about your last two notes. I'm sure he will have a good laugh, and you will learn a lot. Win-win.
Or maybe you should 🤷
Explain to me the limits. Why do you say that a heat pump can only get 400%, not 500%?
And then explain why there is groundwater based heat pumps that go up to 500% that you can buy right now.
https://www.heizungsfinder.de/waermepumpe/wirtschaftlichkeit/wirkungsgrad
I won't fall into Brandolini's trap.
Heat pumps are really expensive & prohibitive to some residential consumers, more options is good, especially ones that subsidize
Yes, and heat pumps are also noisy and fragile. Kinda like banks. I was just eurosplaining why ASICs aren't considered on par with heat pumps by "the authorities"
One of my files at the Ministry of Energy was energy poverty. I saw some very sad letters to the Minister from people having trouble paying electricity bills. There was a large push in the 80s to switch low income housing to electric baseboard heating. Electricity rates had been going up due to catch up investments in transmission, distribution & generation assets + low carbon push, and affordability was a challenge, particularly for low income / vulnerable consumers. Imo a tech that can help subsidize heating is a big win
Yes, anything that makes energy more affordable is a win. Mining is somewhat special as it's one if the most competitive industries worldwide, and the idea that low income people can benefit under such extreme conditions is at least courageous. Even if electricity was free, the economics of ASIC prices and diff adjustments is too complicated for most to create positions yield. That yield would effectively be the subsidy to electricity. Since that yield is likely negative, so is the subsidy ¯\_(ツ)_/¯
Policy is challenging as there are so many intersecting issues. If gov should be tech agnostic, but many aren't in the case of mining. They're picking winners and lovers but have a bad record of it. Need to look at bigger picture, especially if a tech can assist with multiple policy mandates (eg low carbon and energy poverty)
My idea of good policy is "as little policy as possible". Makes life hard for some, for a while, but that sorts itself out over time. Assuming the state's responsibility is "to enable the wellbeing of everyone" like we do in the EU, is bound to fail.
Need to hit the bed now, good night.
To be honest, I am a strong environmentalist, always have been. Smog and bad air literally make me sick.. I believe this word soup of Climate Change etc. is typical Democrats fucking shit up.
Clearly climate change is a trigger word for the right, with ‘the climate is always changing, wahhhh’
My point is, call it what you will, we should keep our shit clean and stop using excuses to crap in our fishbowl.. No city wants an atmosphere like Beijing..
With all of that said, I feel strongly that Bitcoin mining is no worse than a space heater if not better (space heater that pays you, balances the grid and secures a global currency).
Bitcoin mining is an electrical equilibrium combining a balance of electricity, money, and a true ‘free market’.. if it is dirty, expensive and inefficient, it will be done in a cleaner, cheaper way.
Also, electricity needs come in waves, while mining can happen any time. Like the Texas power grid, the Bitcoin miners are actually proving a service..
Look at all the energy Facebook, Twitter, YouTube, advertising in general, fractional banking, wars, bomb making, scam, bots, etc.etc…. I think Bitcoin is more important..
Same vibe but with climate..
