Bitcoin consumed 134 TWh in total during 2021

Post by WheatM » Sun, Jan 02, 2022, 6:59 PM UTC

Andrew_nenakhov wrote: post #225

alkonaut wrote: post #210

Earlier quoted context omitted.

Why would you want that? There isn’t a cheaper centralized system of rendering 3D graphics that uses 1/1000 the energy. We can handle transactions with quite little energy using traditional means. It’s not pseudonymous or decentralized and it’s not extremely efficient. But compared to Bitcoin it’s a wonder of efficiency. I wouldn’t take anything off the table when it comes to banning energy use. But rendering in part…

Ok, imagine yourself in Belarus. All traditional means are under government control. How do you fund anti-Lukashemko guerrillas? Cash?

Post by johnisgood » Sun, Jan 02, 2022, 7:00 PM UTC

unicornmama wrote: post #165

dghlsakjg wrote: post #110

Earlier quoted context omitted.

Serious question: how would cryptocurrencies and defi have helped avoid/mitigate the subprime lending crisis specifically?

It wouldn’t have. CoinBros don’t understand that IOUs (debt) have existed across human history and will likely continue to exist. And that most economic activity is done through debt. Once a set of “trusted” actors can issue debt, you have monetary expansion. In Crypto, we have Coinbase, Binance and Tether - the defacto crypto banks. They have the ability to expand the crypto money supply and promise IOUs multiples i…

Post by la_fayette » Sun, Jan 02, 2022, 7:02 PM UTC

arcticbull wrote: post #112

sktrdie wrote: post #7

With a climate crisis the last thing we needed was to make the most effective energy consumption system ever constructed. The whole thing literally works on competing on consuming more energy. No other system works so efficiently towards such goal. What's scary is that the whole thing was designed to be unstoppable. My utopian hope for the future is that we start sending rigs in orbit close to the sun. Since we only…

The worst part is that according to Cambridge some 40% of that is coal power [1]. Frequently the dirtiest coal power in the world, between Xinjiang (no longer, probably...) and Kazakhstan. Coal power causes excess mortality of anywhere between 25 and 278 deaths per TWh generated depending on how you're counting it and (most importantly) where it's generated. [2,3,4] Bitcoin's addiction to dirty coal killed between 15…

Post by arcticbull » Sun, Jan 02, 2022, 7:03 PM UTC

me_me_mu_mu wrote: post #190

scottiebarnes wrote: post #171

Earlier quoted context omitted.

It's a waste to you, but not to the people who use and value it.

Fentanyl has value to some people. But it kills them and some people keep making more.

Post by gefhfffh » Sun, Jan 02, 2022, 7:04 PM UTC

la_fayette wrote: post #255

arcticbull wrote: post #112

Earlier quoted context omitted.

The worst part is that according to Cambridge some 40% of that is coal power [1]. Frequently the dirtiest coal power in the world, between Xinjiang (no longer, probably...) and Kazakhstan. Coal power causes excess mortality of anywhere between 25 and 278 deaths per TWh generated depending on how you're counting it and (most importantly) where it's generated. [2,3,4] Bitcoin's addiction to dirty coal killed between 15…

There are no new dirty power plants like coal or nuclear built specifically for bitcoin mining. There are definitely new renewable energy sources built for bitcoin mining. So dirty energy would be used anyway! The rate of new renewable energy sources created because of bitcoin is higher overall than without bitcoin.