> Looking forward to seeing Bitcoin play a pivotal role in renewable energy infrastructure build-out and capturing flared and vented methane to be one of the biggest carbon-negative industries on the planet.
Crypto-talk is so similar to satire as to be indistinguishable.
Let's talk about this in 10 years when it becomes plainly obvious that that is exactly what it's going to do.
In the meantime you could actually do some research on it and discover that you might not have a clue what you're talking about. Or don't, it makes little difference to the outcome.
Lancium raises 150 million dollars to build windfarms 100% of whose output will be wasited on mining Bitcoin and not on, you know, actually producing electricity that people can use.
"Bticoin will save the climate by replacing the financial stranglehold on our planet with a financial stranglehold that consumes ever increasing amounts of electiricty and gobbling up more and more resources (such as solar panels and windfarms that could be used elsewhere) to keep running". Also, "For a habitable future, we must stop financialization" says the article describing a system where profits are paramount.
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Crypto-talk is so similar to satire as to be indistinguishable.
> "Bitcoin is solving the issue of brning gas flares by buying that gas and burning it ... thereby reducing emissions"
You realise methane is a worse GHG than CO2, right? You realise flaring is incredibly inefficient with most of the methane still being released into the atmosphere, right? You realise that capturing it and burning it in a generator is better for GHG emissions, right?
Right?
> Lancium raises 150 million dollars to build windfarms 100% of whose output will be wasited on mining Bitcoin and not on, you know, actually producing electricity that people can use.
100% of output to Bitcoin? Where did you see that? Do they specifically state that? Because I couldn't see it in the article.
Also, you just completely gloss over the benefit Bitcoin mining provides in load balancing and curtailment as a demand response (DR). You know, the main point of the article? You know what curtailment is, right? You realise the purpose of demand response, right? That's the real "wasted" energy. Bitcoin is an energy buyer of last resort so that the energy isn't wasted.
Do you also realise that many renewable projects sit in waiting for months to be connected to the grid, right? In that time they could be mining Bitcoin to recoup any losses from just sitting there doing nothing. The more profitable renewables can be the faster they can scale up to replace fossil fuels. The only way this happens fast enough is through economic incentives.
But seriously, I'm not sure why I bother explaining all this to people like you. You're not going to change your mind and your opinion on the matter is ultimately irrelevant. It won't affect the economic incentives for a faster transition to renewables. You'll just be proven wrong in a few decades, but figure out some logical backflips to think it's not so, to save your ego.
Also, the fact that you keep referencing "crypto-talk" says a lot. You haven't yet figured out the difference between Bitcoin and the wider "crypto" industry, which is almost entirely a scam.
I realise that article you linked is very thin on details and doesn't describe what they actually do with that gas. Neither the Bloomberg article nor the bullshit marketing piece they link to on the Crusoe wbesite have any details what they actually do.
Your claim that they capture and burn it in the generator is just that: a claim.
Is burning that gas in a generator better than just flaring it? Yes. Is it significantly better? That depends on a large number of ifs that we have no knowledge about, and I'm not inclined to just blindly trust the marketing propaganda.
> 100% of output to Bitcoin? Where did you see that? Do they specifically state that? Because I couldn't see it in the article.
The title of the article is literally "This Houston tech company wants to build renewable energy-run bitcoin mines across Texas".
The very first paragraph is literally "raised $150 million to build bitcoin mines across Texas that will run on renewable energy".
It's not "we're building useful wind farm and redirecting excess energy to bitcoin mining". It literally is "we're building wind farms to exclusively power bitcoin farming".
But sure, we are to trust them that "In times of scarcity, our data centers will go down". Because we know that this is what will surely happen.
> Bitcoin is an energy buyer of last resort so that the energy isn't wasted.
Bitcoin is never the energy buyer of last resort. Because it needs continuous power supply to generate profit.
> why I bother explaining all this to people like you.
Ah yes. It only took one reply to derail into insults. Couldn't expect less from a crypto maximalist.
> It won't affect the economic incentives for a faster transition to renewables.
Indeed. Those same economic incentives that you pretend will surely make those mines shut down when demand outstrips supply.
> You'll just be proven wrong in a few decades,
No, I won't be proven in the next few decades.
> You haven't yet figured out the difference between Bitcoin and the wider "crypto" industry, which is almost entirely a scam.
It's not my job to chase up every tiny detail for you. You have to be curious enough to look into it and verify for yourself. I've given you enough information to research it for yourself. You've shown zero good faith curiosity that would encourage someone to help you understand it any further, and you're getting pissy at me? That's rich.
But I'll give you one last thread to follow. Beyond that you're on your own.
Every other crypto is a product released by a company with a CEO, investors, VC funding, a marketing team etc. and all based on dubious promises of "utility", "defi", or "yield", faster transactions speeds, or "web3". It's all a bullshit affinity scam riding on the coat tails of Bitcoin.
Bitcoin is literally just an open source protocol for an open, neutral, and permissionless global monetary network, similar to how TCP/IP is a neutral communications protocol for the Internet. There's no CEO or "foundation" like in the case of Ethereum and other cryptos. Companies are building up businesses around this open and neutral protocol. If you can't see the potential behind that combined with its application to demand response, load balancing, methane capture, AND the humanitarian benefits [1][2], well...
“If you don't believe me or don't get it, I don't have time to try to convince you, sorry.” -Satoshi Nakamoto
Crypto-talk is so similar to satire as to be indistinguishable.