Bitcoin as a globally incentivized search to find the most irrational seller of electricity: https://www.seattletimes.com/business/bitcoin-backlash-as-miners-suck-up-electricity-stress-power-grids-in-central-washington/ …pic.twitter.com/3dFAbUZ0eG
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"Well how?" "Well we are going to place a point-of-presence for an intrinsically global network, hardware and a skeleton crew, in your geographic territory for as long as you're the dumbest power provider in the world." "..." "If you're not that dumb say so, I have a list."
Bitcoin's electricity externalities have always bothered me. At industrial scale they straight up worry me.
It’s not an externality. It’s *the* cost of doing business and everyone’s utility bill will rise.
If anything you should always charge a mining operation a premium.
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