I just heard this argument:
#bitcoin mining requires cheap energy --> the used energy is not very valuable in the first place --> mining is not as wasteful as we think.
Aha. #vergecast
🇳🇱
@hinterwaeldler That actually **can** be a useful argument, but its very limited and in practice not true of the bulk of what is mined.
Basically there are a few setups where there is literally 0 energy impact. Most notably being the case of anyone running the miners in their home during the cold season.
If the above happens to be the case it literally requires 0 net energy consumption to mine bitcoin.
I'll be interested to see if those responding knows why this is the case though (I'm happy to explain)
@hinterwaeldler Well in the case of a private individual mining in winter, it doesnt. The reason being that everything is nearly 100% efficient as a heater. So a bit coin miner would effectively heat your home like a heater and thus not use additional energy.
Its a nice little life hack for some "free" money and no negative impact.
@freemo I'm 100% with you. Bitcoin mining certainly wastes at least *some* energy. Never heard that argument before though, so I thought I should share it. 😄