Quote from: icehouse on May 17, 2018, 11:12:52 PM

Hi guru,

crypto mining consume electricity,
electric cars consume electricity,

I don't know which coins (btc or eth) will win the games or
which automaker (tesla, or gm) will win the games

but pretty sure demand of elelctricity will skyrocketing in the future.

There is a chance electricity demand won't increase as much as some might expect.

A paradigm shift from gasoline powered cars and diesel powered trucks towards electrically powered vehicles shifts energy demand from oil to the electrical grid. This comes with an energy surplus. Internal combustion engines in cars are credited with being around 15% efficient. Hydroelectric and other methods of generating electricity which are associated with energy grids can be as high as 30% efficient which gives energy produced by the grid roughly two times the efficiency of energy normally extracted by cars and trucks on the road.

Energy produced by power grids are also becoming increasingly decentralized. Rather than relying on state subsidies or big start up costs necessary to build new power plants, there is a significant shift towards people moving off grid, becoming more energy independent via installing solar panels or windmills on their homes. In some states like california they have reported that electricity generation from residential solar panels is so high they actually must pay neighboring states to accept their excess electricity or else they risk damaging their own electrical grid due to an excess of power.

Since bitcoin mining operations can be setup anywhere in the world with a decent internet connection, miners have their choice in terms of where they choose to establish themselves. This flexibility in location translates to miners often opting for hydroelectric power, which is cheaper than coal, in areas where there is a surplus of electricity which translates to lower overall electricity per watt prices.

In a sense, it doesn't matter if bitcoin mining consumes a ton of electricity, generally the large majority of it will be generated via green methods like hydroelectric and industrial mining will typically take place in areas where there is an excess of electricity which will prevent mining from making electricity a scarce resource.

There is a lot which could be said on this topic that isn't being commented on by anyone in the media. I'm only covering the general points, here.