nate on Nostr: I don't think that's an apt comparison. The energy "backing" bitcoin is energy thay ...
I don't think that's an apt comparison.
The energy "backing" bitcoin is energy thay is immediately redirectable. There's objective of proof this in practice today.
Using mining as a "variable load" to increase reserve capacity for any given grid, again objectively provably happened today. Increase the available energy capacity at any give time. Leading to more stable grids. This also provides a tool that allows for what was previously cost prohibitive grid expansion.
This solves a problem that has existed since energy grids have existed. Nothing has solved this, to this extent before Bitcoin.
So is Bitcoin "backed" by energy, that's kind of subjective I'll give you that. But the real world, symbolic relationships between Bitcoin mining and energy production is not.
The energy "backing" bitcoin is energy thay is immediately redirectable. There's objective of proof this in practice today.
Using mining as a "variable load" to increase reserve capacity for any given grid, again objectively provably happened today. Increase the available energy capacity at any give time. Leading to more stable grids. This also provides a tool that allows for what was previously cost prohibitive grid expansion.
This solves a problem that has existed since energy grids have existed. Nothing has solved this, to this extent before Bitcoin.
So is Bitcoin "backed" by energy, that's kind of subjective I'll give you that. But the real world, symbolic relationships between Bitcoin mining and energy production is not.