Bitcoin Wastes Energy
Understanding bitcoin's relationship to energy not only helps one understand how it will provide more energy to humanity, but also undermines the accusation of bitcoin being fiat "created from nothing."
Bitcoin transforms otherwise wasted energy into something valuable. And bitcoin makes it economically feasible to build-out the grid to ensure extra energy is available during emergencies in which power can be easily redirected by simply shutting down bitcoin miners.
(16-minute video)
If you never watch a single video of me talking about Bitcoin mining again, be sure not to miss this one. pic.twitter.com/qoRg7GINeR
— Dennis Porter (@Dennis_Porter_) November 1, 2024
A bitcoin mining company called Gridless is helping to bring much-needed electrification to Africa by harnessing hydroelectric and other power that has otherwise been wasted because it is too remote to economically transmit it to larger cities.
(5-minute video)
Bitcoin mining helps balance the Texas grid by consuming power when it is not needed and turning the miners off when there is extra demand.
(3-minute video)
Related page: Energy as Money
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