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#BITCOIN IS GOOD FOR AMERICANS

When winter storms covered most of the USA last week, Bitcoin miners in Texas continued to stabilize the state's power grid.

They do this through a demand response program.

When there's a surge of power needed due to something like a storm, Bitcoin miners can shut off, allowing the grid to stay online for people who need to heat their homes.

When there's not a surge of power needed, the energy demand from these Bitcoin miners helps to set a floor price for electricity and reduces the amount of electricity that is wasted.

This incentivizes energy suppliers to invest in larger energy infrastructure, which also helps limit the effect of future storms.

#energy #texas #america

https://bitcoin.rocks/news/energy/bitcoin-mining-stabilizes-texas-power-grid.html

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Discussion

Powermeat 1y ago

Important to note that this isn't just a nice thing that bitcoin miners do. This is bitcoin miners taking advantage of a fucked up energy situation created by governments pushing for less resilient forms of energy.

Because the grid can't do what it use to be able to do, they pay the miners to shut down. This is obviously expensive for the power companies and this cost is pushed to consumers.

Hopefully this is just a short term thing that bitcoin fixes

VOTE FOR BETTER MONEY 1y ago

Important context, thanks!