Mining bitcoin uses more energy than Denmark

[GaryY]

 

[droid2000]

Bitcoin is 14 years old. Very comparable to a 500 year old bubble that lasted 1 year lol

 

[Prana Ferox]

Keeping in mind these are January numbers, I'd be curious to see the cooling apparatus for >500MW of mining gear in Texas and Georgia. That report has some other fishy numbers, too.

 

[droid2000]

 

[GaryY]

Bitcoin is 14 years old. Very comparable to a 500 year old bubble that lasted 1 year lol

It only means people are more stupid than before it takes longer to realize it's for nothing

 

[droid2000]

It only means people are more stupid than before it takes longer to realize it's for nothing

We're gonna have to disagree on that point. Fortunately for you, bitcoin is opt-in, you aren't forced to use it. Keep using the money they keep devaluing. Fiat is a 50 year old experiment and they all go to zero usually through hyperinflation like which is happening in many places as we speak, and you prob noticed everything you buy went up 50% over past few years even if you live in a first-world location, eh? Good luck.

 

[GaryY]

We're gonna have to disagree on that point. Fortunately for you, bitcoin is opt-in, you aren't forced to use it. Keep using the money they keep devaluing. Fiat is a 50 year old experiment and they all go to zero usually through hyperinflation like which is happening in many places as we speak, and you prob noticed everything you buy went up 50% over past few years even if you live in a first-world location, eh? Good luck.

I believe we have responsibility to pass on better/or less harming world to next generation. It sounds still stupid mining bitcoin while there is big concern with climate.

 

[droid2000]

I believe we have responsibility to pass on better/or less harming world to next generation. It sounds still stupid mining bitcoin while there is big concern with climate.

Climate hysteria is just that. It's based on computer models that haven't ever accurately predicted climate. You ever write a computer modeling program before? I have. It's not easy. So many variables they explode in complexity. Stephen Wolfram wrote some good books on the subject.

What you are actually doing is imposing authoritarian limitations on the population based on your uninformed beliefs. Your idea of harm is wrong. It's not based on reality. It's based on the propaganda of a certain political ideology you probably follow on twitter and msnbc. You have no right to control our lives.

 

[GaryY]

Climate hysteria is just that. It's based on computer models that haven't ever accurately predicted climate. You ever write a computer modeling program before? I have. It's not easy. So many variables they explode in complexity. Stephen Wolfram wrote some good books on the subject.

What you are actually doing is imposing authoritarian limitations on the population based on your uninformed beliefs. Your idea of harm is wrong. It's not based on reality. It's based on the propaganda of a certain political ideology you probably follow on twitter and msnbc. You have no right to control our lives.

Yes, please continue as you want.

 

[Blumlein 88]

Better to have currency from computer software apparently since it cannot be trusted with modeling.

At the very least music about mining isn't as good for bitcoin so far.

 

[JSmith]

Is no one going to discuss or mention the energy usage of the traditional current monetary system? All those bank systems, associated systems, POS systems and ATM's etc. don't run on nothing. Producing and distributing hard currency is surely resource intensive. Stock and trading markets...


JSmith

 

[droid2000]

Better to have currency from computer software apparently since it cannot be trusted with modeling.

At the very least music about mining isn't as good for bitcoin so far.

There is a big difference between statistical computer modeling and the well formed computation employed by bitcoin. Bitcoin doesn't directly use any statistics or complicated modeling for it's behavior. In fact, the most complicated part, it's scripting language, was intentionally limited to NOT be Turing-Complete to eliminate a large class of attack vectors.

It's really bad to try and compare bitcoin to something like climate change models. You have made a category error.

 

[Blumlein 88]

Is no one going to discuss or mention the energy usage of the traditional current monetary system? All those bank systems, associated systems, POS systems and ATM's etc. don't run on nothing. Producing and distributing hard currency is surely resource intensive. Stock and trading markets...


JSmith

Stock and commodity markets according to a report a couple of years back put it at roughly .1% (sorry don't have the link). That could have been cut as the article was complaining of the power usage that goes to high frequency trading which was included in that .1% estimate. I know that doesn't include printing and distributing bills and such.

 

[droid2000]

Is no one going to discuss or mention the energy usage of the traditional current monetary system? All those bank systems, associated systems, POS systems and ATM's etc. don't run on nothing. Producing and distributing hard currency is surely resource intensive. Stock and trading markets...


JSmith

Don't forget the cost of the military backing it up

 

[Blumlein 88]

There is a big difference between statistical computer modeling and the well formed computation employed by bitcoin. Bitcoin doesn't directly use any statistics or complicated modeling for it's behavior. In fact, the most complicated part, it's scripting language, was intentionally limited to NOT be Turing-Complete to eliminate a large class of attack vectors.

It's really bad to try and compare bitcoin to something like climate change models. You have made a category error.

You didn't comment on the music.

 

[GaryY]

 

[Mnyb]

Yea but use fossil resources to produce criminality still takes the stupidity cake , all excuses posted in this treads are just denialist stupid

A monetary system unchecked by any government will erode the tax base and make a functioning good society a hard thing to accomplish.

I think every monetary transaction should be tracked and registered forever . I’ve read that 20% of the worlds economy is the black market. And the black economy follows no rules and it does not care fore the environment or society.

So if you are pro drug dealing arms dealers trafficking and environmental disasters go crypto

 

[droid2000]

You didn't comment on the music.

oh man i got so worked up i didn't listen to them

give me 20 minutes to warm up the tubes

 

[droid2000]

Yea but use fossil resources to produce criminality still takes the stupidity cake , all excuses posted in this treads are just denialist stupid

A monetary system unchecked by any government will erode the tax base and make a functioning good society a hard thing to accomplish.

I think every monetary transaction should be tracked and registered forever . I’ve read that 20% of the worlds economy is the black market. And the black economy follows no rules and it does not care fore the environment or society.

So if you are pro drug dealing arms dealers trafficking and environmental disasters go crypto

You realize that 99% of all criminal activity funding is via USD, right?

>I think every monetary transaction should be tracked and registered forever .

You can only do that with bitcoin. You can verify every transaction on the bitcoin network with your laptop, or even a raspberry pi. Terrible idea to do criminal activity on a completely transparent ledger.

 

[Chromatischism]

I believe we have responsibility to pass on better/or less harming world to next generation. It sounds still stupid mining bitcoin while there is big concern with climate.

I agree climate needs to be addressed (urgently). So let's come up with solutions that don't throw the baby out with the bathwater, so to speak.

If BTC mining is using 50-60% renewable energy, that's already a good start. That's a better percentage than other businesses using the grid.