Curiously I did a study only about 3 weeks ago for a client, the bitcoin network uses the same amount of power as the country Denmark at the moment. Man-made global warming is a scam but that is kind of excessive. Ethereum for example is actually one big virtual computer that actually does things the coins pay people for actual compute power to run the VM bitcoin does not do anything other than serve as a currency for all that number crunching.
That's a good point, lets convert the math to barrels of oil for lols .. I mean comparison, Bitcoin is now using 120Twh annually an increase this year of about 70% over 2020 which is 70.5 million barrels of oil. Iraq now produces about 4.5m barrels per day, so it takes the entire output of Iraq for about 15 days to keep it going the way it is. Again I would happily wipe my ass with a raccoon I am not worried about the environmental impact but Bitcoin uses what is now a very old technology blockchain 1.0 if you will, nearly all other cryptos use the processing power to drive a giant virtual computer which is used for other purposes such as managing huge IOT device networks and the coins to pay for the compute power. What is being done here is a waste and China makes about 60-70% of all the money from new bitcoin minting - this I have a problem with!
It's a good point. The total number of servers would correlate. It's not like Facebook is under utilizing their CPUs. When I drive by all these data centers, that are basically mega warehouses filled to the brim with computers, the tiniest, tiniest percentage is being used for bitcoin.
Crypto basically adds 1% to our total computational energy use, but allows us to ditch the slave coin that is USD. (it's unique value is that you can pay taxes, making it a don't go to jail token that they and print on demand. It's a slave token. And you're the slave).
Most of bitcoin's energy use comes from mining, which is nearly complete. Transactions use very little energy by comparison. Musk is pulling the most blatantly obvious pump and dump ever.
[ + ] WhiteGoat
[ - ] WhiteGoat 1 point 3 yearsMay 20, 2021 20:41:39 ago (+1/-0)
[ + ] Lostandfound
[ - ] Lostandfound 1 point 3 yearsMay 20, 2021 15:16:37 ago (+1/-0)
[ + ] bob3
[ - ] bob3 0 points 3 yearsMay 21, 2021 02:43:50 ago (+0/-0)
[ + ] Lostandfound
[ - ] Lostandfound 0 points 3 yearsMay 21, 2021 04:15:02 ago (+0/-0)
[ + ] x0x7
[ - ] x0x7 0 points 3 yearsMay 20, 2021 19:29:37 ago (+0/-0)
Crypto basically adds 1% to our total computational energy use, but allows us to ditch the slave coin that is USD. (it's unique value is that you can pay taxes, making it a don't go to jail token that they and print on demand. It's a slave token. And you're the slave).
[ + ] big_fat_dangus
[ - ] big_fat_dangus 0 points 3 yearsMay 20, 2021 18:12:11 ago (+0/-0)
https://www.coindesk.com/frustrating-maddening-all-consuming-bitcoin-energy-debate
[ + ] incellivision
[ - ] incellivision 0 points 3 yearsMay 20, 2021 16:10:42 ago (+0/-0)