Bitcoin miners in Abkhazia are causing blackouts in remote villages [video]

Post by JoeAltmaier » Fri, Mar 12, 2021, 10:30 PM UTC

fredfoobar wrote: post #184

fredfoobar wrote: post #183

Earlier quoted context omitted.

* You are talking as if there is a linear scaling of how much energy is consumed by a "miner" on the fly. This is false. * Most renewable/stranded energy mining operations have their own energy source that is not going to be shared by someone else. * Bitcoin's energy consumption doesn't scale with the number of transactions on each block. * Most of the bitcoin has already been mined, the incentive to "mine aggressive…

Most of the arguments against, sound like the same arguments against things like cars (vs horses). "Do you think we'll make all those roads just for cars to go on?", "Cars don't work on dirt roads, they get stuck all the time", "What if you run out of gas in the middle of nowhere?" "You will run over people and kill them in an accident" "Cars cause pollution"

Post by fredfoobar » Fri, Mar 12, 2021, 10:48 PM UTC

blondie9x wrote: post #191

fredfoobar wrote: post #180

Earlier quoted context omitted.

Do you have any reason to feel so despondent without any real evidence? There's already plenty of people mining with renewable/stranded energy sources, all mining will head this way. My prediction is that the "energy consumption" arguments against bitcoin will disappear in 5 years. People are gonna tell us (bitcoiners) that the USD is secured by the powerful military of US behind it and we're supposed to accept it as…

You are trying to brush off criticism with a red herring. The US military doesn’t secure USD... and we need to have a conversation about energy consumption and Bitcoin. We need to regulate mining for it the same way we regulate other mining on the planet. Physical or digital or still uses energy and we need to have a conversation and look at options. Not just dismiss critics for pointing out the obvious.

Post by keymone » Sat, Mar 13, 2021, 12:37 AM UTC

chromanoid wrote: post #128

keymone wrote: post #68

Earlier quoted context omitted.

> It’s broken by design. it's genius by design. so far nothing other than PoW was shown to work. > We shouldn’t keep Bitcoin alive just because it was the first successful attempt. you're not keeping it alive, it exists in a free market and there is demand for it. > That has been tried, it’s now clear it’s not sustainable over the long-term. not clear at all. so far looks like it's the most sustainable system of dece…

>> That has been tried, it’s now clear it’s not sustainable over the long-term. > not clear at all. https://digiconomist.net/bitcoin-energy-consumption/ So sustainable...

Post by pinoli » Sat, Mar 13, 2021, 4:46 AM UTC

blondie9x wrote: post #157

_Microft wrote: post #57

We should define something like a "Nakamoto scale" . A Nakamoto Type I civilization would be one that converts all available power of a planet into waste heat and funny numbers, a Nakamoto Type II civilization does that with all the power output of a star and so on... basically the Kardashev scale [0] but with the restriction that useful output SHOULD NOT be produced [1]. Edit: lowered requirement level from MUST NOT…

Can we please start regulating crypto currency mining? This is insane. I think it needs to be global mining regulation. Can the UN do anything else? If we start taking all the energy used to mine a given cryptocurrency it aggregates to more than most countries per cryptocurrency. Not ok. I know this is controversial but we have to at least debate this subject as we face an existential threat from climate change and y…

Post by GlassOwAter » Sat, Mar 13, 2021, 5:27 AM UTC

blondie9x wrote: post #157

_Microft wrote: post #57

We should define something like a "Nakamoto scale" . A Nakamoto Type I civilization would be one that converts all available power of a planet into waste heat and funny numbers, a Nakamoto Type II civilization does that with all the power output of a star and so on... basically the Kardashev scale [0] but with the restriction that useful output SHOULD NOT be produced [1]. Edit: lowered requirement level from MUST NOT…

Can we please start regulating crypto currency mining? This is insane. I think it needs to be global mining regulation. Can the UN do anything else? If we start taking all the energy used to mine a given cryptocurrency it aggregates to more than most countries per cryptocurrency. Not ok. I know this is controversial but we have to at least debate this subject as we face an existential threat from climate change and y…