Everything was a mistake.pic.twitter.com/RnF4AC34KC
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Replying to @rhinosoros
the wind isn’t constantly blowing and they run it 24/7 so...
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Replying to @DanielleFong @rhinosoros
You should know energy can be stored
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Replying to @ParodyMusk @rhinosoros
are they doing this? no, because it is not economic? are they instead running a load 24/7 because the mining hardware is so expensive, valuable and scarce that they are incentivized to run it at all times until the block rewards are less than their marginal cost? yes.
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Replying to @DanielleFong @rhinosoros
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.2 replies 1 retweet 11 likes -
Replying to @paulgb @rhinosoros
yes, the laws of energy economics are mainly constrained to the older, 'retired' machines. can we at least put our GPUs to something better?? btw I read a paper that reduced hashing Bitcoin to SAT! I have been playing with the idea of encoding NP-complete problems in it somehow
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it doesn't quite work
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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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then you get the same equipment to solve other satisfiability problems, hoping efficiency improvements cross over. encoding np complete problems into finding a bitcoin hash or using a hash as a an answer for a particular problem of some interest is a no go
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