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“Bitcoin mining will “strengthen” US energy grid.” – U.S. Senator

Bitcoin mining will “strengthen” US energy grid.” – U.S. Senator



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39 Comments

  1. This is actually fairly true. A lot of energy in the United States is made by gas turbines. And at night, so little power is used that plants have to run them at half power or turn them off completely. Anything but running a turbine at full throttle, so to speak, creates insane emissions. At full power, the gas turbine runs fairly clean assuming you have the right equipment.

    If the US started mining Bitcoin and other currencies, then they could keep these turbines running at full power output and with the least emissions by routing the excess energy to mining rigs and cooling equipment. Mining Bitcoin would actually reduce emissions.

  2. Haha love it, smart move leaving Teddy boys name out of the title.

    He’s clearly been put up to saying this my main stream banking knowing his support undermines crypto.

  3. I ~~can’t stand~~ don’t endorse any of the politics of Ted Cruz, but ~~he’s right~~ he appears to be well informed in this case, and here’s why. The energy grid must balance power supply and demand perfectly and renewable resources makes this very very difficult. Too much power produced vs demand and things blow out and break. Too little power and lights dim, computers stop functioning correctly and the whole economy tanks. GDP noticeably dips as a direct result of any low power or power outage.

    A field of windmills can go from no power generation to as powerful as two nuclear power plants in the blink of an eye. And we need some sort of “thing” on the demand side of the energy equation that can be just as fickle. Enter Bitcoin mining.

    When power generation is super high electric sellers don’t want to shut off their power plants or else they stop making money. So Grid operators have to pay them to shut off their power plants. But why do that when they could simply let BTC miners mine for free? Since you make money mining bitcoin, someone is guaranteed to do it. And this will solve the problem of excess power on the grid. It will ensure long-term political support/tolerance for Bitcoin or some digital currency. It will also allow us to put more and more renewable energy on the grid without worrying about the grid failing which means Bitcoin leads us to a greener world than one without bitcoin!

    The only problem is that we need some pool of bitcoin mining hardware that is not mining bitcoin 100% of the time that we can engage when needed and turn back off when not needed. Gotta figure out a way to make that profitable or it won’t exist. Maybe power companies have their own mining hardware that is off until there is a surge. If they can profit more from power, they sell power. If they can not they mine.

  4. He also said Bitcoin mining would allow us to efficiently capture energy from remote solar and wind farms, where it would be too expensive to transport the energy over power lines.

    A solar plant in the middle of the desert could mine BTC through satellite internet, and “store” the energy as BTC.

    Y’all might know this if you turned down the “RRREEEEEEEEEEEEE!!!!!!” going on in your heads.

  5. Just came here to say Fuck Teddy Cruz. Piece of poop, he is.

    Not a good look for BTC if a bunch of Trump loving politicians start getting pro BTC. They are traitors to their country. Spreading lies and misinformation to their followers. History will show the truth….I hope.

  6. Right, here we go, endorsement from people we don’t want endorsements from. This is FUD in disguise. Get those who people dispise to get behind something you want quashed.
    Can’t wait for the “bitcoin is the devil” phase.

  7. Nothing tastes worse than saying “I agree with Ted Cruz” but here we are. Its a god damn no brainer. Bitcoin gives power back to the people, takes power from the banks, is and can be even more green, and is probably the only way many of us will ever retire.

    Why people who are left of ted fucking cruz cant grasp this concept is beyond me. Its incredibly frustrating. Like stop being such dick holes and embrace nuclear power, sensible gun control, and crypto currency you fucking dinosaurs.

  8. It’s nice that Cruz likes bitcoin. I however don’t respect him or his opinions, so it doesn’t change how I think. Further, most people hate this guy, so his commenting probably harms Bitcoin more than it helps.

    Also… Texas isn’t a shining example of a well functioning energy grid.

  9. Didn’t his state’s power grid collapse when it got too cold, then near collapse again in the summer and didn’t he run away to Cancún to avoid dealing with it? Now he’s giving advice!

    Edited

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