The electricity for 1BTC trade could power a house for a month
1–10 of 13 posts
Re: The electricity for 1BTC trade could power a house for a month
#2This shows the ultimate futility and failure of crypto currencies.
bitcoin could consume as much electricity as Denmark by 2020
https://motherboard.vice.com/en_us/article/aek3za/bitcoin-co...
Re: The electricity for 1BTC trade could power a house for a month
#3The second line was factually incorrect, the first was click bait. Did it get better after that?
Re: The electricity for 1BTC trade could power a house for a month
#4The second line was factually incorrect, the first was click bait. Did it get better after that?
Well, it's not a technical paper but it raises valid concerns worth discussing.
What's your take on it?
Re: The electricity for 1BTC trade could power a house for a month
#5This shows the ultimate futility and failure of crypto currencies. bitcoin could consume as much electricity as Denmark by 2020 https://motherboard.vice.com/en_us/article/aek3za/bitcoin-co...
I believe it's more of a challenge than "ultimate futility and failure".
An alternative to PoW would reduce the problem by much.
Re: The electricity for 1BTC trade could power a house for a month
#6It can consume electricity that is lost (by transport through power lines, batteries full on off grid PV systems) or sold at a loss due to weak demand.
Re: The electricity for 1BTC trade could power a house for a month
#7Criminal waste of energy
Re: The electricity for 1BTC trade could power a house for a month
#8The article seems to imply that a 1BTC transaction requires 200kWh of energy.
First, what is the source for that number?
Second, what is the business interest of the quoted individual? Are they promoting competing services?
Third, how much energy does the supposed alternative really take, by comparison?
How much energy do these aspects of said business operations require:
- Travel to and from the office for n employees
- Dry cleaning for n employees' work clothes
- Lights for an office of how many square feet
- Fraud investigations in hours worked, postal costs, wait times, CPU time and bandwidth to try and fix data silos' ledgers' transaction ids and time skew; with a full table JOIN on data nobody can only have for a little while from over here and over there
- Desktop machines' idle hours
- Server machines' idle hours
With low cost clean energy, these businesses are profitable; with a very different cost structure than traditional banking and trading.
Re: The electricity for 1BTC trade could power a house for a month
#9The article seems to imply that a 1BTC transaction requires 200kWh of energy. First, what is the source for that number? Second, what is the business interest of the quoted individual? Are they promoting competing services? Third, how much energy does the supposed alternative really take, by comparison? How much energy do these aspects of said business operations require: - Travel to and from the office for n employe…
Anyone want to guess how much the quoted concerned party has invested in cryptocoins / cryptocurrencies? Guy's prolly just sitting at home, shorting it, just waiting for the price to move.
By comparison, with an ICO, there's less back-and-forth on the cap table.
"My job is to feed the machines."
Re: The electricity for 1BTC trade could power a house for a month
#10This shows the ultimate futility and failure of crypto currencies. bitcoin could consume as much electricity as Denmark by 2020 https://motherboard.vice.com/en_us/article/aek3za/bitcoin-co...
How much does traditional banking consume?