RE: BTC: The Unsustainable Beast
Bitcoin, in a roundabout way, might actually speed up the pace of renewables. It is not uncommon for technology to consume larges amounts of power. Google and Facebook both set goals to have their servers housed in buildings that wer 100% renewable. It simply is too much of an economic incentive.
I would say that places that have a lot of this type of energy is going to see the miners in the future. Of course, the bitcoin people could determine that it is best to change their approach...and then again, they might not.
Either way, the market will figure a way around it. Do not be surprised if some third world countries pick up the slack at some point since they are seeing tremendous solar penetration rates.
This is just an example where the western world, especially North America, will be left behind.
Renewables cost anywhere from 20 to 80 times as much to set up as traditional power sources do - the initial fixed cost (capital cost) is tremendous. Over time that gets amortized, of course, but it's got to show up in price sooner or late (unless it's subsidized by taxpayers, as it is in many parts of the world). If it's not good old hydroelectric or geothermal, the real cost is much higher until fixed costs are covered. https://en.wikipedia.org/wiki/Cost_of_electricity_by_source
Unfortunately for POW, I don't see any possible white knights out there ready to come to the rescue.
True....they might have to alter how they verify which I heard is an option that BTC might have to consider at some point.
It will be interesting to watch.
By the way, hoping my money clears soon, I need a bit more BTS at these levels....hoping the price stays down a few more days.