“Coal plants which were dormant or slated to be closed are now being revived and solely dedicated to bitcoin mining. Gas plants, which in many cases were increasingly economically uncompetitive, are also now being dedicated to bitcoin mining. We are seeing this all across the country,” said Brune.
Without a change to the code, the fundamental problem will remain that bitcoin’s code “incentivizes maximum energy use”, said Chris Larsen, founder and executive chairman of crypto company Ripple and a climate activist. “The minute that there is the opportunity to go to something dirty, which is what you are seeing, that is going to happen.”
Problem is it will also decrease the price and security by a similar amount. Bitcoin is the coal of the crypto world. There is no easy fix for BTC energy consumption other than switching to another digital currency or finding a way to reward miners for using renewable energy.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Energy Energy Latest News, Energy Energy Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South-east Australia risks temporary gas shortages by 2023 winter, energy review warnsReduced production in Bass Strait and pipeline capacity limits could lead to shortfall during extreme weather, energy market operator says I expect better from the Guardian. This “shortfall” is a scam.
Source: GuardianAus - 🏆 1. / 98 Read more »
Property worth $25b at risk from coastal erosionNew research shows climate change is already being felt in popular beachside suburbs.
Source: brisbanetimes - 🏆 13. / 67 Read more »
Property worth $25b at risk from coastal erosionPort Melbourne, Aspendale and Brighton homes are among $25b in property that is at risk from coastal erosion, which is bumping up the price of insurance premiums and potentially affecting property values Domaincomau propertymarket storms wildweathe... Domaincomau This reminds me of Barack Obama, buying an ocean-front home, even though he knows he'll lose it in his lifetime, to a climate catastrophe or two. Most people in these areas can probably afford to lose their home. Domaincomau Lol. Domaincomau Er,well their has been an incredible amount of research since the 1970s ( and before ) about the effects of Climate Change including rising sea levels …
Source: theage - 🏆 8. / 77 Read more »
Tens of billions of dollars' worth of property facing climate and erosion risk, analysis showsAnalysis finds climate change is threatening coastal homes, property values and the ability for buyers to secure bank loans and insurance. Queensland had the highest concentration of properties in the 'Very High' risk category, particularly in the densely populated Sunshine Coast and Gold Coast areas. Flood insurance has jumped 300% There are already suggestions to raise a climate damage levy for costal properties. Paid by everybody to compensate loss of value of houses impacted by sea water level raises. Society will bail out the beach villa owners. Great. (Disclaimer: Living 5km from the beach) This was talked about 40 years ago but councils permitted it, real estate agents sold it and people bought it and built on it. They all knew but were in it to make a dollar and now……🤷♀️
Source: abcnews - 🏆 5. / 83 Read more »