Posted on 03/14/2021 3:43:33 AM PDT by blueplum
Powerful computers 'mining' for the cryptocurrency Bitcoin are driving global warming as data shows they use vastly more electricity than all the internet tech giants combined.
Bitcoin passed the $60,000 mark for the first time on Saturday, but its rocketing value again raises questions over the vast energy resources required to run machines that mine for the cryptocurrency, that some - including billionaire Warren Buffet - even consider to be worthless.
On March 2, Bitcoin's estimated energy consumption reached its highest ever rate, hitting a staggering 130.90 terawatt hours (TWh) annualised. The following week...
...March 3 was at a rate of 130.9 terawatt hours (TWh), roughly the same as New Zealand and Argentina ...
(Excerpt) Read more at dailymail.co.uk ...
It seems very silly.
Yope.
Giant Bitcoin farms are consuming enormous amount of resources, electricity, computers, buildings. Just to create imaginary currency on par with Monopoly money.
Maybe Greta can help?!
It ain’t gonna stop the salmon and steelhead from their spring run.
not to worry ... our American fascist overlords will mandate that we peasants must do our part to offset this horrendous “carbon footprint” by switching from eating meat to eating meat-flavored soy patties, you know, Nuevo Soylent Green so to speak ... our overlords of course will still require the consumption of copious quantities of high-quality meat to maintain sufficient energy to dictate our behavior ... them and their military enforcers, of course ...
Run for your lives! Hide your daughters wives and dogs!( heavy sarc.)
Buy silver. It will double in a year.The annual silver cycle makes it cheapest in May.
It will be delivered to your door insured UPS or FedEx.
https://store.firstmajestic.com/
The collapse of bitcoin will be sudden and violent.
Why would anyone buy a silver round when they can but a silver eagle?
Because they want to keep it longer.
There is a sh9oe for every foot.
I like First Majestic. They deal in bulk:
50oz. Poured Silver Bar
https://store.firstmajestic.com/collections/silver-ingots-and-bars/products/50oz-poured-silver-bar
When the mining machines stop, and bitcoin evaporates into the ether, my pile of gold will still be here.
Bitcoins are created from nothing. They are fiat money. The dollar is created from nothing. The dollar is fiat currency.
The dollar has some intrinsic value, at least. Full faith and credit of the US is still worth something.
Crypto is just used electricity.
China is the home of 70% of the bitcoin generation
Bitcoin can only use solar and wind power like everyone else.
Lots of cheap coal-fired electricity generation there.
The dollar has some intrinsic value, at least. Full faith and credit of the US is still worth something.
Crypto is just used electricity.
I’d suggest you look up the definition of “money”.
5 years ago i put 1% of my portfolio in Bitcoin. It’s done fairly well. It can’t be banned because you’d have to shut down the internet to “ban” it. It can’t be inflated to worthless paper, like the US Dollar and it’s going to be used by everyone to hold value as our fiat money evaporates into toilet paper.
“Full Faith and Credit” of the US..... really?
It’s a ledger entry and is “worth” what others will trade for the “number”. I’d just read a little about it and then decide for yourself. If not BitCoin then read about the Blockchain network that it uses. In that manner you will be able to convert dollars to euros instantly without a fee, think about the disruption caused by that.
Lots of cheap coal-fired electricity generation there.
Yep and lots of money in the business - the CCP loves to undermine other currencies with its worthless bitcoin.
Just imagine how much energy and paper and productivity time is wasted on the myth of man-made global warming.
Bitcoin and other cryptocurrencies are made up data bits assembled in blocks - similar to how a single character is 8-bits but a word would be the sum or total letters. Miners usually join pools with other miners and they all work together. Everyone in the pool gets some credit based on their hash rate or contribution to the poll in finding, or solving a bitcoin.
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