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Ah so it is: you use a lot of electricity but you found out that there's a threshold at which you can turn your use of electricity off or down and get paid money for doing so, potentially more than mining bitcoin would pay. arvanaghi/1270748153202053126Permalink On twitter.com
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So they're not batteries, they're a lot of completely unnecessary power use that, because it's completely unnecessary, you can turn off at will and it turns out that... uhhh you can get paid for using less than your normal amount of power.Permalink On twitter.com
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Wow, what an incredibly fucked up incentive structure our power grid has and this is quite a scam to be portraying as a battery or a power plant or ecologically sound.Permalink On twitter.com
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I love how this thread also manages to go "renewable energy bad, 'bookmarking' energy good". Wow.Permalink On twitter.com
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You know what would be even better for the grid and more ecologically sound? Not mining any bitcoin. Like, even if the ecological impact is less than we might think... it's still more than zero for a thing we don't need and completely made up in the last decade.Permalink On twitter.com
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Mood +4 🙂
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I mean look, if you want to mine bitcoin, go for it I guess, I can't stop you. But don't try to pretend you're doing the environment a favor because you found the right arbitrage point between power use and bitcoin mining.Permalink On twitter.com
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It's a server farm that can turn itself off... it's literally the opposite of energy storage except capitalism magic makes it possible to wrap consumption up as a product and sell the privilege of not consuming.Permalink On twitter.com
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Omg... it's a power default swap... they're selling the other side of what is basically insurance that they will keep consuming power steadily... except they have full control over when they perform the "default"... Am I crazy or is that an effective comparison ranjanxroy?Permalink On twitter.com
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I thought maybe cap and trade would be a more effective comparison but in theory at least you're supposed to be reducing preexisting pollution there. Here you're creating more energy use for the purpose of arbitrage down the line on that power use.Permalink On twitter.com
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I both believe this is legal and also am incredibly depressed that we created a country where we put ourselves in a position where this is legal.Permalink On twitter.com
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This is an interesting discussion around a different angle to look at this, though I'm not sure I'm quite so positive about the impact in my read. odtorson/1289931067378429952?s=19On twitter.com
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