Re: Bitcoin needs to change to avoid the inevitable environmentalist backlash
Fiat uses millions of times more energy than Bitcoin. Bitcoin will save the babies, puppies and rainbows.
And bring back unicorns.
+1.
This has recently been discussed to death in this thread:
https://bitcointalk.org/index.php?topic=770591.0
There are many solutions to this. https://blog.ethereum.org/2014/06/19/mining/ Some involve doing nothing as market forces and economics will force decentralized miners to be used for heating.
Economics are already pushing miners to go green to compete with sunk electrical costs -
http://thecoinfront.com/new-decentralized-mining-pool-runs-on-100-clean-renewable-energy/
In the future it is likely that all electrical costs will be used create the product of heat with PoW as a nice consequence that helps subsidize the energy bill or ASIC appliance.
What this means is the PoW could go from being much more environmentally friendly than fiat to much greener.
https://bitcointalk.org/index.php?topic=770591.0
There are many solutions to this. https://blog.ethereum.org/2014/06/19/mining/ Some involve doing nothing as market forces and economics will force decentralized miners to be used for heating.
Economics are already pushing miners to go green to compete with sunk electrical costs -
http://thecoinfront.com/new-decentralized-mining-pool-runs-on-100-clean-renewable-energy/
In the future it is likely that all electrical costs will be used create the product of heat with PoW as a nice consequence that helps subsidize the energy bill or ASIC appliance.
What this means is the PoW could go from being much more environmentally friendly than fiat to much greener.
No, it is not possible to transform heat into other forms of energy. Unless you need heat right away (to stay warm) any heat energy is essentially wasted
Tell me, if not by transforming heat, then how is electricity generated?
You obviously don't live in Iceland, where 25% of the power is geothermal. Try this for starters: Geothermal electricity
IMHO ASIC Farms surely will end up trying to recovery some of their operation cost by using their waste heat for District Heating ops as some Data Centers already did. As any of you surely knows ASIC farms cooling is a issue and they're already engaging in a competition to be more efficient on dissipating excess heat from their equipments. District Heating is done also with the waste hot water from (Thermo)Nuclear Power plants as in Swiss' Kernkraftwerk Beznau.