Everything was a mistake.pic.twitter.com/RnF4AC34KC
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right, so i read that paper, they encode solving a hash at a given difficulty level as a satisfiability problem, so theoretically a good sat solver is also a bitcoin miner, but it’s not immediately clear to me how the asymptotic complexity is or how good vs asics in practice
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this is the major flaw with “incentivizing renewable energy” claims — the hardware depreciation makes it never worth it to turn the machines off. The idea that you can profitability mine only when there is “excess” energy goes against the economics of it.