Bitcoin
Bitcoin
Out of context: Reply #1998
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- BaskerviIle2
Is bitcoin a reckless waster of energy, or more precisely, our precious carbon budget? What if we thought about this in a different way. Nick Grossman of USV (which is a crypto investor and runs a climate fund) does exactly that and argues that Bitcoin and crypto mining is “driving the energy transition from fossil fuels to renewables”. He takes this idea a step further by challenging our concepts of batteries. If you can translate electricity into something that can be used anywhere at any time, then you have a battery. Crypto mining converts electricity into value in the form of coins, which can be moved, exchanged, what have you. If we think of Bitcoin as a battery, the possible applications are varied and exciting.