"If there is ever competition for the energy that the Bitcoin miners are buying, the miners turn off their machines, perhaps to turn them back on later in a real-time response to grid loads. This relationship is poorly understood by many, leading to a popular but incorrect assumption that Bitcoin is “wasting” energy that could be used for other projects." - Alex Gladstein
Another amazing piece from Gladstein, this time breaking down the incentives and elements of Bitcoin and Bitcoin mining that has the potential to transform the developing world's capacity for capital accumulation, sustainable economic activity, & bootstrapping of renewable energy production and expansion of the much needed electrification. Don't miss this piece!
Check out the original and Gladstein’s other incredible work below:
https://bitcoinmagazine.com/culture/bitcoin-is-humanitarian-and-environmental
A big thanks to BitcoinMagazine and the LTBNetwork for the invaluable & dedicated resource they have been to the Bitcoin community for so many years.
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