It's mainly the fact that Bitcoin mining sets a price floor on electricity price... | Hacker News

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kevinak on Aug 25, 2023 | parent | context | favorite | on: Proof-of-Work Defense for Onion Services

It's mainly the fact that Bitcoin mining sets a price floor on electricity prices. It's a buyer of last resort. Without it you'll get negative electricity prices and less investment in renewables.

See for example what Ercot has to say about Bitcoin mining: https://www.youtube.com/watch?v=gKnRfDeFgr0

foota on Aug 25, 2023 [–]

Who needs batteries when you have Bitcoin?

kevinak on Aug 25, 2023 | [–]

Until you can solve the climate crisis with batteries alone you need other solutions to step-in in the meantime.

Also, batteries don't help when the electricity is in the middle of nowhere and not connected to the grid.

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