People who don't know grids or Bitcoin say:
"Bitcoin is waste by design"
Renewable operators say:
"Bitcoin prevents waste by design"
Here's how: ever heard of a Load Bank?
It's probably the only piece of hardware in the world that was designed to waste electricity.
Why?
Sometimes, renewable generators get asked to curtail energy suddenly.
Powering down can create a lot of wear and tear however, so many renewable operators prefer to send some of that power to a load bank, which does nothing other than chew up surplus electricity.
A 500kW Loadbank will set you back $28,490 and is a far more challenging e-waste conundrum than any Bitcoin miner.
https://t.co/IrEAaFPWI6
When renewable operators replace their loadbanks with even some old Bitcoin miners, they not only help secure a sound-money network, they earn Bitcoin.
Bitcoin Mining is the cure for waste-by-design, by obsoleting the need for Load Banks, and helping renewable operators become more profitable, so they can expand their operations.
UPCOMING: NETWORK REHASHING
Polygon zkEVM Mainnet Beta Network Rehashing + Bridge L2 resync is scheduled for the coming week.
Note: This does not impact the state of the network or any past transactions or any L1 information.
Date: Mon, Sept 18
Time: 10:30 AM CEST / 08:30 AM UTC
Duration: 6 hours
The network will resync from genesis, the state of the transactions stay the same but the L2 block hashes will change.
Rehashing will be followed by an L2 resync of the bridge.
During the V39 mainnet release on July 11th, a setting that controls the fee payments to 0.0.800 was misconfigured.
When configured correctly, 90% of network fees are currently allocated to operations (account 0.0.98) and 10% toward staking rewards (account 0.0.800). From July 11th through September 15, instead all fees went to operations (account 0.0.98).
Hedera authorized a change to update this setting, and this setting was corrected as of Sept 15. Now, 10% of the transactions fees are correctly flowing into 0.0.800. During this time, approximately 1.5M HBARs were incorrectly allocated to account 0.0.98.
The primary objective of Hedera's staking system is to ensure the long-term security of the mainnet when the nodes are operated in a permissionless manner, and as such the Hedera Governing Council does not fund the staking rewards account directly, though others have recently donated 60 million HBARs to the account.