Generally speaking, renewable energy can be cheaper. Bitcoin miners need cheap energy to be profitable. Bitcoin miners are for profit businesses. It's in their best interest to seek our the cheapest and most abundant sources of energy. Hence, Bitcoin mining incentivizes renewable energy. 🤙🏻
Bitcoin mining does not "incentivize green energy", but I am happy for you being happy that the false narratives seem to be able to generate globally correct thoughts.
I am a simple man. I do not have these sorts of tactics built upon deception. 🤷♂️
https://heaviside.substack.com/p/bitcoin-mining-wastes-energy-but
Discussion
I think you are right, but actually I haven’t found any serious scientific paper showing that this is actually true. It makes sense but we should be cautious claiming it is a fact.
Isn’t everyone trying to use cheap energy? So can we deduct that every electricity usage is incentivising renewable energy? No, it is not. Only mining is different because it can be decentralised, but this still doesn’t prove the point. Yet.
Anyone seen Troy Cross? #[6] #[7]?
Correct. Everything is built upon energy (see civilizationmetrics.org), mining is not special. And it is Bitcoin itself that avoids capital misallocation, which Bitcoin obviously cannot do while the world is still primarily run by fiat. Bitcoin mining as an industry actually mostly runs on a fiat calculus, energy contracts, fab access, etc, all 0% bitcoin denomination.
Derek's reply helps strengthen my point that this is a most retarded conflation and it is bearish for human civilization that these errors gain so much mimetic traction. It is logically equivalent to saying "Bitcoin does X thing I like because X is better. My favorite color is blue, so bitcoin mining will make every car blue since this minimizes energy." Total gibberish from people who have emotionally-driven narratives, no engineering backgrounds, but want to belong to the leftist statist cucks in some capacity -- Stockholm clinging, this is what drives the "renewables" people.
None of them have a clue what phase shift is, for instance, or the fact that you see idiots like Max Webster talking about 10x overcapacity 100% solar + batteries as his prediction for the world -- under sound money, Max would be mocked and ridiculed out of every room no differently from a BSV'er, but Bitcoiners obviously still feel rather weak and it shows.
Renewables have trash returns, and bitcoin will eliminate the uneconomical scams funded through violent robbery and theft. Enough!
From which year is your chart? 1985? 😂
Nope, and numbers on renewables are still trash, before you even take into account the trash QUALITY of solar or wind energy. But have fun running your fiat-brain on bitcoin.