Bonus: Nic Carter Article on WH Report on Bitcoin Mining Climate Impact
Coin Stories
The OSTP Report - Bitcoin Miners Aren't Subsidizing New Renewables
The OSTP claims that buying renewable power just forces other grid consumers to buy thermal power, so it's awash. This assumes wrongly that Bitcoin miners aren't subsidizing the addition of new renewables in any way. Miners are a uniquely responsive load that can enhance grid flexibilization.
Nic Carter is a general partner at Castle Island Ventures. He is cofounder and chairman of Coin Metrics, host of the On The Brink podcast, columnist for Coindesk, and an advisor to the Bitcoin Clean Energy Initiative and to Core Scientific.
Comments on the White House Report on the Climate Implications of Crypto Mining https://medium.com/@nic__carter/comments-on-the-white-house-report-on-the-climate-implications-of-crypto-mining-8d65d30ec942
Nic's Annotated Version of the Climate and Energy Implications of Crypto-Assets in the United States https://niccarter.info/wp-content/uploads/09-2022-Crypto-Assets-and-Climate-Report_nc_annotated_091522.pdf
Follow Nic on Twitter https://twitter.com/nic__carter IN THIS EPISODE:
0:00 Intro 1:07 OSTP "highlights" 3:39 Chief issues, PoS, PoW 4:12 No novel data 5:31 No industry subject matter experts 6:15 Non-peer reviewed journal content 8:02 Faulty reliance on De Vries / Digiconomist 12:01 Energy consumption 13:18 E-waste 14:50 Emissions 17:17 Faulty reliance on Gallersdorfer, Klaassen, and Stoll 19:43 Citing Mora et al "worst paper ever written" 21:27 Deeply conflicted approach to data 23:20 Electricity use and Bitcoin mining n Texas; ERCOT 29:37 Miners using renewables 30:16 Dismisses flare gas mitigation 34:22 Claim: using stranded renewables inhibits transmission 36:36 Gives miners no credit for subsidizing renewable buildout 39:23 Refuses to guess on future energy trajectories 42:07 Recommendations are stupid, counterproductive
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