About the only drawback of #Bitcoin is exorbitant power draw. But it looks like some clever Bitcoiners managed to either power their plants with renewable energy (didn't some fossil fuel supporters complain that renewable energy can push prices into the negatives? sore losers) or excess waste from fossil fuel production. I guess it's an acceptable solution.
I'm also interested in what will happen when emission of Bitcoin will finally stop at the sacral 21 million number — how many people who only did mining for profit are going to shut off their miners? Will we see some sort of difficulty adjustment to match the lowered hashrate? Of course, mining probably won't disappear — with cheap energy sources it may still be possible to break even just by transaction fees, but I wonder if fees are going to rise because of that.
Vika
npub179…rqced
2023-10-09 20:01:06
in reply to nevent1q…mmdv
Author Public Key
npub179hkmppz8m44dt0r7cg6f2jnn4shyew5fmu6uc9s9wle2s5s287qarqcedPublished at
2023-10-09 20:01:06Event JSON
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"content": "About the only drawback of #Bitcoin is exorbitant power draw. But it looks like some clever Bitcoiners managed to either power their plants with renewable energy (didn't some fossil fuel supporters complain that renewable energy can push prices into the negatives? sore losers) or excess waste from fossil fuel production. I guess it's an acceptable solution.\n\nI'm also interested in what will happen when emission of Bitcoin will finally stop at the sacral 21 million number — how many people who only did mining for profit are going to shut off their miners? Will we see some sort of difficulty adjustment to match the lowered hashrate? Of course, mining probably won't disappear — with cheap energy sources it may still be possible to break even just by transaction fees, but I wonder if fees are going to rise because of that.\n\n",
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