Quote from: Kittygalore on August 17, 2021, 04:13:03 PM

That's actually a good thing but how do we migrate everything there, I mean it can probably support the network for about 50 years or so given that it's about 400 Terawatts of energy wasted and the growth for energy consumption rate for bitcoin network is low and slow. Saylor might be onto something here.

And where did you come with the idea that is waster energy?
Canda produces 650TWh a year of electric energy out of which around 400 is hydro, if you would be using 100 or 200 out of those for bitcoin mining all the other industries would have to switch to burning fossil fuel. Seriously, just take a second to think before making these claims, why would they have built all those damn if they didn't need that energy in the first place.

This is the same Salvador story, somebody out there really believes they are digging thermal wells to produce energy for miners, yeah right!!! They were building that power plant before they even knew what bitcoin is (the plan was laid down in 2012) and they are doing it because Salvador is a net importer of energy, not for the sake of some miners. The whole story is simply childish, you want people in Canada to start burning more oil and coal so that miners could use cheap hydroelectric produced electric energy? Seriously, how many tequila shots do you need to chuck down before one comes with such ideas.

One more point, why do you believe the growth of energy consumption for bitcoin is low and slow?
Energy demand is following the price as miners get more rewards and plugin more gear to get more $, it went up by 20x times in the last 4 years, do you think it wills still consuming only 100twh if the prices are at 300k next year?

Quote from: Wind_FURY on August 17, 2021, 11:19:23 AM

Plus the energy providers help distribute the Bitcoins to the users, through the miners. Energy providers that power the Bitcoin network are becoming like quasi-central banks, without themselves understanding their role. They are going in it because of the incentives. Satoshi is a Genius.

I don't know why you're so enthusiastic about an energy provider having the power to shut down 10-25% of the global hashrate with a click.