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| danny_galaga:
--- Quote from: Howard_Casto on January 09, 2018, 10:18:39 pm --- --- Quote from: mimic on January 09, 2018, 09:37:57 pm ---I have one question only... What EXACTLY is being mined!? I know it's some kind of mathematical calculations, but where do they originate and what is the end result supposed to be? And where is the end to creating new calculations and new cryptocurrency, I mean at some point it will be so greatly diluted to the point that every human will have their own cryptocurrency. That's the thing I can't wrap my mind around. --- End quote --- All I know is all of those mining rigs have to be putting out a rather large carbon footprint for no actual product. So the end game of bitcoin seems to be to kill the Polar Bears. --- End quote --- |
| dkersten:
--- Quote from: Howard_Casto on January 09, 2018, 10:18:39 pm ---All I know is all of those mining rigs have to be putting out a rather large carbon footprint for no actual product. So the end game of bitcoin seems to be to kill the Polar Bears. --- End quote --- No more than an old arcade cab with a CRT... And even a beefy mining rig wouldn't use more electricity than charging your electric car each day... But who cares about Polar Bears when you are busy standing up on your pedestal... |
| Mike A:
I think PBJ said it before. BYOAC'ers suck at analogies. |
| Vigo:
Not in a macro sense. Just looked up the power consumption. The bitcoin decentralized network uses as much electricity as a small country. With mining doing less and less, I can't imagine how it is possible that a currency pitted against our power grid is sustainable, unless we invent cold fusion in the next couple years. https://www.theguardian.com/technology/2017/nov/27/bitcoin-mining-consumes-electricity-ireland --- Quote from: dkersten on January 10, 2018, 10:44:46 am ---No more than an old arcade cab with a CRT... And even a beefy mining rig wouldn't use more electricity than charging your electric car each day... But who cares about Polar Bears when you are busy standing up on your pedestal... --- End quote --- Each and every bitcoin transaction uses 300 kWh of electricity, If my math is right, that could power a CRT arcade machine for 900 hours. That is 37 days of continuous play. I am a wasteful guy, but damn, that is insanity. |
| HaRuMaN:
--- Quote from: Vigo on January 10, 2018, 11:22:50 am ---Each and every bitcoin transaction uses 300 kWh of electricity --- End quote --- Not exactly correct, that should read "every bitcoin mined" |
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