Post
Topic
Board Bitcoin Discussion
Merits 2 from 1 user
Re: Why is Bitcoin critical to the realization of abundant clean energy in future?
by
ranochigo
on 11/07/2021, 01:55:18 UTC
⭐ Merited by pooya87 (2)
OP's point is that given Bitcoin's reliance on electricity, to a huge extent, there is a higher demand for it which results in indirect investment to the R&D. That is only partially true; miners are only using renewable energy if it is cheaper and convenient for them. No miners would pay extra for renewable energy, and it would hinge on whether the costs of it comes down significantly or not. Argument is more valid for places with mature renewable energy structure and are producing too much energy and are otherwise unable to store or transmit them over a long distance.

Bitcoin miners are unique energy buyers because they provide a highly flexible and easily adjustable interruptible load.
This is incorrect. Bitcoin miners cannot accept unstable electricity supply nor are they flexible. They cannot afford to have their ASICs running under sub-optimal conditions or just idling, that would mean thousands of dollars being wasted in opportunity costs as they are unable to mine efficiency or at all.