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knifefight

22 karma · joined January 26, 2021

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knifefight··on The Blockchain Is a Dark Forest
The miner and the power plant operator are often the same entity. They turn the mining equipment on when they want to dump energy, and off when they have more productive places to sell it. Seetee is a good example.
knifefight··on The Blockchain Is a Dark Forest
According to Lawrence Livermore Labs 2/3rds of all energy produced is rejected. There is a graphic in the article.
knifefight··on The Blockchain Is a Dark Forest
A new Bitcoin mining company founded by a Norwegian energy company, focused on Bitcoin and renewables.
knifefight··on The Blockchain Is a Dark Forest
> The only way Bitcoin would use this energy is if they had a contract with the power company to be an on-demand load, switching on and off to help smooth the peaks.

But that is exactly how power plants are using Bitcoin. That's the idea behind Seetee.

knifefight··on The Blockchain Is a Dark Forest
How would you characterize rejected energy, if not wasted? What is your take on Seetee?