buyer of last resort, they have a model that has a lot of details like bitcoin price & mining hardware and solar resources and demand for power in Texas, but i... don’t think it represents the real world usage of either mining hardware or solar plants or the grid or alternatives
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and the only good thing they claim comes out of it is bringing down the price of renewables more quickly, right? (of course there are second order effects if this is true) I thought energy storage was more critical than price for mass adoption of renewables at this point
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i don’t dispute that bitcoin is valuable as a store of value, as a hedge against inflationary currencies, or that it could be used and mainstream for very very large transactions or as a backing for a net more efficient system, perhaps more so than the existing financial system
End of conversation
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(to be continued)