I don't want to conquer the world, but it seems obvious to me that this is "market failure" exacerbated through global trade.
Wasting energy should not be an opportunity for revenue, but of course it always is, for differing reasons.
The word "waste" here means that there is a maximization of resource consumption while simultaneously minimizing physical utility to humans (utility as in Utilitarianism).
At least as an weak version of my argument. In reality, it is not resource consumption that is maximized, it is free-loading resource usage of the commons while still maximizing profits.
This honestly seemed like one of the few stories of Bitcoin as net positive for a community's energy supply. The hydro-plant is now able to continue investing and link up to the national energy grid, where it will be more profitable to supply "human" demand. The miners will move on to the next disconnected energy source, and everyone was happy.
You say potato, I say po-tat-o. You "market failure and waste", I say "taking advantage of local efficiencies and powering a global financial system". Did you miss the part where they share revenue with the energy company?
> The bitcoin mine now accounts for around 30% of the plant's revenue allowing them to keep the prices down for the local town.
No, I honestly went off on a rant without really digesting the article.
Also because I find myself in need of limiting my exposure to politics and doomscrolling.
I think I don't disagree with you, while being wary of how exactly systems could be challenged and improved.
I found myself really angry in the past about environmental problems and am mostly shutting myself off web discussions about such topics in order to not becoming angry and isolated in futility.
My comment above was another diversion from that stated goal, but I'm thankful for your reply.
Wasting energy should not be an opportunity for revenue, but of course it always is, for differing reasons.
The word "waste" here means that there is a maximization of resource consumption while simultaneously minimizing physical utility to humans (utility as in Utilitarianism).
At least as an weak version of my argument. In reality, it is not resource consumption that is maximized, it is free-loading resource usage of the commons while still maximizing profits.