Quote from: franky1 on October 23, 2018, 10:27:05 PM

here we ago again the lies of wasting electric

so here goes
bitcoin mining farms (the smart ones) are not wasting electric.
power companies dont just produce to demand. they produce with EXCESS so that there is a buffer so that when homes turn on lights or cook something. the sudden change of electric draw doesnt cause brown outs

many big mining farms buy up some of this excess in a year long contract. because the excess cant be re-used/stored. so would go to waste otherwise.

by actually using the excess and having funds come from it allows power companies to expand and upgrade their facilities faster to be ready for future demands.

the math some have reported as being atleast 1% of world usage is a fallacy. the real numbers are around 10x less than that. (under 0.1%)
the article that reported the 1% were using 2015-6 hardware but with 2018 hashrate stats. which is like saying it takes an hour to get 3 miles because they base it on the speed of walking and not realise current tech is cars, trains, planes which are faster.

take the s9 antminer. 14thash using as much electric as 2 gaming PC's but producing as much hash power as double digit thousands of gaming machines

Plus electricity cannot be stored. Once its generated it should be used or else it goes to waste. There are some areas in the world that give big discounts to people to use more electrcity because the supply is more than the demand.

"Bitcoin's wasteful use of electricity" is propaganda to diabloize it.