Post
Topic
Board Economics
Re: Energy Consumption of the Bitcoin Network
by
aminorex
on 04/04/2014, 04:50:38 UTC
I agree that a higher price (of electricity) could solve the problem in the long term (5+ years). In the short term I except that the most polluting plants will just run at maximum capacity to deliver the required power.

Man-made climate and global environmental change is the most irrational thought a person could have. Start here on the definition of the scientific method.

Death rate due to coal burning is mostly cancer and respiratory illness.  Mercury toxicity from coal causes neural damage, especially damaging in early development.  A survivable and humane environment is a green environment, AGW notwithstanding.  When economic development is low, you've got bigger fish to fry, but as soon as you can afford intelligent cancer-free children, you're likely to want to spend your developed income on that.

Economic incentives aside, there's really no reason why miners can't be restricted to renewable energy as available.  The network is global, and the Earth turns.  There would always be mining occurring somewhere.  It's only the compulsion to amortize the plant, and to maximize earnings, that compel miners to operate 24x7.

EDIT:  But there is a novel technique for burning coal with iron oxide that essentially eliminates fly ash, if I recall correctly.  It was a research press release, so it might be overblown, and I don't recall much detail -- it was about 2 years ago.