Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Gachapin
on 27/12/2022, 21:52:43 UTC
⭐ Merited by JayJuanGee (1)
At least you now got a hint that something is going on regarding miner shutdown compensation..

Not really.

I'd say "news sources" mentioning it, is at least a hint that there might be something to it...  but I can agree to disagree

BTC has various use cases. That includes using the BTC network as a balancing tool for the energy grid.
If the community (government) decides to pay you on top of the mining rewards, so they can have enough energy in emergency situations, why not.

Because Bitcoin mining is about harnessing redundant [or not] energy, mainly from renewable sources whilst using the power grid as little as possible.

You are either connected to the energy grid together with other consumers or not. Having the power source solely running for Bitcoin is a rather rare case.

BTC has various use cases. That includes using the BTC network as a balancing tool for the energy grid.
If the community (government) decides to pay you on top of the mining rewards, so they can have enough energy in emergency situations, why not.
I will also stress again, that I’m in no way comfortable with any “hand outs”, subsidising the Bitcoin network, especially coming from Bitcoin’s worst enemy - the government(s).

I guess you are always free to refuse any reward from your community.

The Bitcoin network though (miners and users) don't care what you feel comfortable with.

These certain miners have the choice to be part of a collapsing grid or turn off and get paid.
Being a business the choice is clear. Especially when taking into account that private local residents should come first when energy gets restricted.

As a miner you theoretically have the choice to refuse any compensation, or move your business to a place with a power source that you don't have to share with other consumers. And I'm with you that the latter might be the best solution, but life (or business) isn't always a bowl of cherries.