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Reddit kills awards and coins
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this post was submitted on 13 Jul 2023
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If only it wasn't a climate crime with the unstable value
Did you ever wonder why people spent energy for Bitcoin instead of selling it to consumers and industries? It would clearly be more profitable right? You will be surprised to learn that they do when possible. They only mine Bitcoin when it's the most profitable use of energy, which never happens unless Bitcoin is actually the only available option. People mine with energy they can't sell or store for technical reasons. Whether that's because there is not enough demand for it (Africa) or the facility is not connected to the grid. That means people mine Bitcoin with energy that would have been wasted otherwise. That's neutral for climate
Of all the wild, unsupported, and desperate claims, this is definitely one of them.
That's not how energy production works, that's not how supply/demand works, that's not even how the economics works