It’s still not earning you money to spend electricity because you still have to pay the transfer fee which is around 6 cents / kWh but it’s pretty damn cheap nevertheless, mostly because of the excess in wind energy.
Last winter because of a mistake it dropped down to negative 50 cents / kWh for few hours, averaging negative 20 cents for the entire day. People were literally earning money by spending electricity. Some were running electric heaters outside in the middle of the winter.
Bitcoin alone accounts about half a percent of the world’s electricity usage. Even if “demand on your local grid is low”, that doesn’t mean supply of renewables alone is necessarily high, especially if that happens overnight when solar output is low and a fossil plant is keeping things running. In that case we could have just as easily, you know… Not feed a ponzi scheme.
PS: if you think an arbitrary metal would have solved the world’s economic problems if only we stuck with it, I’ve got bad news for ya.
