Post
Topic
Board Bitcoin Discussion
Re: Power companies should mine bitcoins
by
needFREElunch
on 03/01/2015, 19:06:59 UTC
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A voltage is potential energy. A transformer transforms voltage yes but is also a storage of potential energy via a magnetic field.
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No, that's not even wrong.  But there's very little waste in modern power grids--excess capacity is simply shut down/taken offline, so there's little point in blowing millions of dollars on mining gear which will only mine a fraction of the time (as it becomes obsolete).  Here's a pic:


Right. This would also only make the confirmation time unstable as the electric companies would shut off their mining gear in peak demand times which would cause the confirmation time to suddenly increase.