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RE: Bitcoin Mining and Energy Consumption: Disaster or Unnecessary Hysteria?
We need to use green energy and should think upon minor energy consumption machines
We need to use green energy and should think upon minor energy consumption machines
The miners (as they try to have the biggest profit) are looking for the cheapest electricity available. So if the state does not influence the market through subsidies (or other interventions), miners are forced to use the green energy because it is much cheaper. In the free market, it is definitely less profitable to mine with dirty energy. As it is mentioned in the article, every entrepreneur have to produce more valuable outputs from less valuable inputs, thus if the dirty energy is not subsidized, its users pay more for electricity (in most cases).
I think the prices of the green energy equipments will be falling down. as it is coming in daily use by various firms like google Facebook Microsoft etc. and even many govt offices in African countries are green energy powered. Even in USA yu can see a vital use of green energy