Crypto Twitter recently discussed whether mining Bitcoin with the help of clean energy is a good solution for unused and excess energy or not. This started with Dennis Porter’s post on Twitter, the host of a podcast and an advocate of Bitcoin.
Renewable Energy In Bitcoin Mining Discussed On Twitter
Following the tweet, a healthy discussion about the role of miners of BTC and renewable energy took place. An assurance was given by Dennis Porter that bitcoin forms incentives to construct renewables, however, Peter Gleick, the scientist argued that such a statement is a self-serving lie.
The discussion got intense and bitter after Nic Carter, the general partner of Castle Island Ventures and co-founder of Coin Metrics got involved discussion. He commented on Twitter openly that Gleick did not have much information about energy. Carter then started explaining how the markets of energy work and defended the use of cryptocurrency in his other tweets.
Porter stated that for every kilowatt-hour, where cryptocurrency uses renewable energy, that amount of energy cannot be used for human purposes or for displacing fossil fuels. Thus, in his opinion, fake incentives are not required just to form renewables. Carter disapproved of this claim.
Carter contradicted this view by saying that the unit of energy that is used has no productive use in the economy. He also showed initiatives that are headed by the Electric Reliability Council of Texas, where there is an excess energy supply. Even in a presentation last year, he explained how the mining of bitcoin can develop the economics of projects of renewable energy.
As per his words, the mining of bitcoin enabled solar and wind installations to soak all the extra energy supply that cannot be sold for human purposes. After this discussion, Carter changed his name on Twitter to ‘nic no credentials carter’ after Gleick displayed that there is a difference between his and Carter’s educational degree and opinions on energy.