Quote from: tadamichi on October 23, 2022, 08:13:01 PM

And now over time were seeing the opposite development happening, abysmal rates and no incentive to really help the grid out.

It's unforgivable really that there will be excess electricity being generated while simultaneously there are planned outages and power cuts. Government incompetence at its finest.

This does tie back in to bitcoin mining being used as a demand response system for a 100% renewable grid as I mentioned earlier. If there is a surge in energy demand, you can burn more coal or gas, but you can't make anymore sunlight or wind for your renewable generators. So in times of excess, you have bitcoin miners working away, using up all the excess power being produced and paying the energy company for it. Bitcoin miners get cheap energy, energy companies don't have to dump excess energy and earn nothing for it, win-win. Then in times of high demand, the energy companies can pay the bitcoin miners to turn off their ASICs, allowing the grid to divert that energy usage to elsewhere so there are no outages or power cuts. Again, win-win. This is already happening successfully in Texas and elsewhere.

Quote from: pooya87 on Today at 05:08:03 AM

For example a couple of years ago one of these Asian countries (I forgot which one) banned mining and then seized hundreds of ASICs.

It was Malaysia, but the equipment was seized due to being run on stolen electricity, not because they banned mining: https://www.cnbc.com/2021/07/19/malaysian-police-steamroll-1point25-million-worth-of-bitcoin-mining-rigs.html