Quote:
Originally Posted by Wayne 962
But why would more BTC mining push green energy? It's a business like any other, and they will want the lowest price, regardless of it being green or not? It's not like these BTC that will be mined will be special "green" ones? I mean, you could get away with that if you were making "green" consumer products - the customer might pay a premium for that. But these are commodity instruments that are no different from ones mined elsewhere?
I just don't understand the argument that says "mining more Bitcoin will encourage more green energy". There's no reason or incentive for that? The hydro power that the miners have been using in China is used because it's cheaper. "Green" energy is not cheaper here in the states (particularly in Texas), last time I checked...
-Wayne
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I think the two environmental based arguments are at odds. I see on one had energy consumption will kill Bitcoin, and on the other hand Bitcoin has nothing to do with pushing green energy. If the argument that bitcoin can fail because of its energy consumption and environmental impact is true, then is it not also true that in order for bitcoin to survive, it has to become more environmentally friendly? So miners and the multi trillion dollar industry as a whole would need to push for greener energy in order to succeed correct? I do not think it is necessarily about bottom line today, but long term success which far outweighs the difference.