The common man knows only one thing about Bitcoin mining – it uses a lot of energy, and that’s bad.

This mental virus, which the extremists and anti-Bitcoin propagandists spread so well in the corners (often carrying the evidence channel) is destined to be the end of our growing industry. young. We use a lot of power, and the use of power is obviously a dangerous thing. It follows that we will be despised, persecuted and removed from existence. We are in a climate crisis, so as we all know the best thing to do is put solar on your roof, buy a Tesla, shut down coal and gas plants in your area and say that everything is not racist . . Proof of work is the enemy. This argument is, to many reasonable people who like to wash their dishes and turn on the lights at night, ridiculous.

But there is still this big problem: “Bitcoin mining is not still using a lot of energy?” Or aren’t these computers piling up the trash the second they become useless? »
If you find yourself under the question of bitcoin to recognize people, having to answer for all those megawatts we consume, there is an important question to ask and the answer, “It is not Does bitcoin use too much power?”
Yes, but what power?
NOTE: Before we go any further, let’s make a distinction between energy and electricity. Energy from natural sources such as wind or water wells. These sources are used to produce electricity, the second energy we produce worldwide, which is transmitted through high voltage wires and used to wash our dishes.


Bitcoin miners today are not using too much waste or energy. My argument is that this is the direction our industrial system is headed for a long time, regardless of the type of production, because excess supply and demand lead to miners and cheap energy. . How much do Bitcoin miners spend?

As long as there is potential to lose, Bitcoin mining is real and profitable. Let me repeat that for those in the back row.

As long as there is waste in energy production and supply chain, there will always be value for my bitcoin, regardless of hardware type, manufacturer, age, location, whatever.

Even the respected bitcoin mining FUD masters like Digiconomist from Alex de Vries fail in the simplicity of economic analysis in bitcoin mining opportunities.

That is, supply and demand are not understood. That is why they published findings such as “Similar crimes ultimately determine the future of ASIC mining devices, as progress in ASIC chip performance produces more powerful devices that end up with mining technology old people who don’t work… Because the technical life time of ASIC mining exceeds the time of the device that can work properly (McCook, 2018), when they are not useful determines the life they and when they become e-waves … We show in this study the life of Bitcoin. The mining equipment is still only 1.29 years old.

Therefore, we should understand that the efficiency of the ASIC market is the only driver that consumes energy and e-free production?

I will invoke Brandolini’s law (“The amount of energy needed to repel bullshit is an order of magnitude greater than that required to produce it”) as a justification for not making the above statements directly, instead considering n ‘loss of power.

By zero energy, I mean the points in the power chain where the energy is working, but for one reason or another it isn’t.

This takes many forms in the marketplace, from methane gas and electricity at oil and gas sites, to wind farms, power plants, nuclear power plants and solar farms shutting down due to low is required. Bitcoin mining is the ultimate waste reduction tool because as long as there is waste in the energy sector, and there always will be, there will be incentives to mine Bitcoin and this energy, regardless of the type of ASIC.

NOTE: If you are Alex de Vries, I want you to read that last sentence again and rethink your estimate of 1.29 years for ASIC lifetime.

The least valuable energy is the one that does not come to market. Methane is vented or burned at oil wells, wind turbines run on mega-farms, and hydroelectric turbines don’t spin. In the case of solar, you have a production period that doesn’t match the demand period, so a lot of capacity sits unused during the day. That is, people turn on more lights when the sun goes down.

Bitcoin miners don’t care about your Science-Backed Turbo Grid™, your political views, or the dream team you assembled to form a research council. Whether you want 89% nuclear, 71% solar with Tesla Powerwalls, complete elimination of fossil fuels, or 93.7% hydro, it doesn’t matter, we don’t care.

We are the eternal libertarians of the free market.

We want to free you and pass. We are the beggars of the power sector.

And now the system for this company is strong and growing. Rack, a power distribution unit and flexible technology for indoor operations, a variety of solutions designed to protect miners from the Texas heat and the Alberta cold, a central data center designed for the sole purpose of consuming gas , black mining house, boxes that keep your home warm during all cold weather.

Secondary software in the hardware market appears in firmware, machine control, maintenance and life extension.

Everything is designed around the same purpose, features and uses cheap energy in the best possible way.

That cheap energy isn’t the electricity you use to charge your iPhone or watch Netflix — it lives far away from an overcapacity substation or gas company. work well. In this way, Bitcoin mining brings the market wherever there is no one in the power supply chain.

At almost any point in the fire chain, there is waste or excess that is better eaten than left.