Why do these discussions so often assume electricity is a finite resource? Are people not able to turn their lights on because of Bitcoin miners?
When Bitcoin miners consume electricity shouldn't that increased demand affect the market price and dis-incentivize mining? What other use of electricity has such a high price elasticity? People don't turn off their ACs in the middle of summer because electricity costs are high -- they value comfort, a lot. But miners, IIUC, shut down their ASICs when they're unprofitable. Bitcoin mining is extremely price sensitive.
If Bitcoin mining is driving up local electricity prices it seems worthy of local regulation. It also seems like an incentive for increased energy production -- and given today's prices would most likely be clean energy production.
The report states Bitcoin's consumption is 39% clean energy. That is considerably higher than the overall portion of global energy consumption from renewables. Does this not mean Bitcoin is a large source of demand for renewable energy?
https://ourworldindata.org/grapher/share-electricity-renewab...
Increased demand increases prices in the short-run and incentivizes production -- decreasing prices, and further increasing usage in the long-run. Right? What am I missing?
I'm the technical founder of Kanopi and I'm looking for a co-founder.
https://kanopi.io
Kanopi is...
- a tool that blurs the line between private note-taking and public linked data
- a part-time project from 2015 - Sept 2020, full-time since then
- my attempt to explicitly support more of the thinking/learning process (capture, collection, organization, synthesis, analysis, and maybe recall)
--- excluding functionality for presentation and real-time collaboration
- in private alpha - request an invite at kanopi.io!
The problems I'm trying to solve with Kanopi are:
- remove frictions from note-taking by using data on the web to suggest notes and links
- make notes useful across contexts/projects by adding outlines (Trees) and mind-maps/diagrams (Maps) on top of your notes
--- notes are not contained in these tools, they are referenced
- make notes more meaningful over time by encouraging smaller notes, with titles, that have labeled links to other notes (how is X related to Y?)
From user interviews I think academics and professional researchers experience these problems most acutely so they are my focus at this stage.
As some on this thread have discussed -- I don't expect to make this decision lightly, but if this sounds interesting and you feel it is a good fit then please reach out.
When Bitcoin miners consume electricity shouldn't that increased demand affect the market price and dis-incentivize mining? What other use of electricity has such a high price elasticity? People don't turn off their ACs in the middle of summer because electricity costs are high -- they value comfort, a lot. But miners, IIUC, shut down their ASICs when they're unprofitable. Bitcoin mining is extremely price sensitive.
If Bitcoin mining is driving up local electricity prices it seems worthy of local regulation. It also seems like an incentive for increased energy production -- and given today's prices would most likely be clean energy production.
The report states Bitcoin's consumption is 39% clean energy. That is considerably higher than the overall portion of global energy consumption from renewables. Does this not mean Bitcoin is a large source of demand for renewable energy? https://ourworldindata.org/grapher/share-electricity-renewab...
Increased demand increases prices in the short-run and incentivizes production -- decreasing prices, and further increasing usage in the long-run. Right? What am I missing?