Posted on 02/13/2022 8:00:56 AM PST by SeekAndFind
And that is not a full transaction so meaningless the energy you claim only gets used. Try this:
“Every single Bitcoin transaction—even buying a latte—consumes over $100 in electricity, says a new report”
https://fortune.com/2021/10/26/bitcoin-electricity-consumption-carbon-footprin/
Land and ammunition. What do I win?
The mining of Bitcoin requires much computing power. Right now, decent video cards are almost impossible to find and when you do, they cost twice as much as the rest of a computer. The Bitcoin miners have grabbed them all up and use them in mining computer farms. I have wanted to build a new desktop gaming machine for two years but I’m not going to pay $1,500 for a video card.
All depends on how you allocate the total cost.
True if you divide total energy usage in mining across each transaction.
Not true if you allocate energy usage to the miners alone.
My son got a 5 year full ride to a well-known university and graduated Summa Cum Laude with 4 simultaneous degrees: BS in Math and Computer Science and BA in Physics and Greek.
He was a crypto miner in the early days. He is the top R&D guy with a major international IT firm. He got me into BC very early.
His main point is that the money and energy spent on Bitcoin “is spent to provide the first and only honest financial system.”
Well then he should know BC was a hobbyist designed coin and has some fatal flaws for full blown scaleout. In the real world, good intentions dont cut it.
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