Re: Bitcoin to use 0.5% of world’s electricity by end of 2018
I'd actually be more interested in seeing how big of a part green energy is of those statistics...
I'd imagine it could be a lot cheaper to generate your own power with either solar or wind, especially for large-scale mining operations.
I'd imagine it could be a lot cheaper to generate your own power with either solar or wind, especially for large-scale mining operations.
Without government subsidies, green energy is not cheaper and Germany has paid triple for it's fancy turbines and panels till now.
What's the problem with Bitcoin mining taking up so much power? Would this be an issue if the missing capacity was filled with additional renewable energy?
It's not as simple as that.
Let's assume we use 1 Gwh out of coal and 1 Gwh out of solar.
Now adding another 1 Ghw of wind would led us to shut down the coal power plant...but..since we have another energy hungry industry that came out of nowhere and eating another Gwh, we will still have to keep the coal burning.
The good news, the problem is easy to fix.
The bad news is that it involves bitcoin going below 100$
The VERY good news is that the "analyst" with his claim that the network will consume 3x more power by the end of 2018 is estimating a price increase of 3x also .
