Posted on 12/12/2017 4:23:33 AM PST by dennisw
” Based on that rate of growth, Bitcoin electricity consumption will overtake the U.S. by July 2019 and the world by 2020.”
And the Universe by 2040. That is what the a$$hole is saying.
“why do I see this crashing big time....probably because it is based on a fallacy of perceived value.”
You mean like the digital numbers on your computer screen when you check your bank account?
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Using real energy to mine fake currency. It’s the 21st century version of the Tulip Craze.
>
RIGHT. ‘Cause PRINTING fake currency uses a fraction of the same energy! /s
Same jack-offs going to rip into SETI, Folding @ Home or any other ‘energy uses’ of voluntary nature??
(to no one in particular) Unless the taxpayers are paying the electric bill, shut the pie-hole.
How much energy is wasted reporting and manipulating “climate change” scare stories?
If you are doing Folding@Home or BOINC/SETI, etc. check out the cryptos called “Curecoin”, “Foldingcoin” and “Gridcoin”...double bonus...doing research AND free crypto!
Amazing and interesting. Thanks!
ASIC mining.....who makes these ASIC chips for bitcoin mining? Chinese?
I’d get out now.
Good move but I'm still holding out for my Beanie Babies and "Gone With the Wind" decorative plates to sky rocket.
Yes, now dominated by a Chinese company called “Bitmain”....there were other options in the past like “Butterfly Labs” but they went by the wayside. There is a new “up and comer”: https://bitcoinmagazine.com/articles/bitcoin-developer-about-take-mining-hardware-industry/
Then Chinese bitcoin miners will get the latest and the best mining chips before anyone else. Along with low cost Chinese electricity this means China becomes a bit coin super power. Just as I suspected. The idiots in Iceland can’t design or make chips.
China has lo cost coal in its West but does not have the great railroads to bring enough East where the people and industries are and live. This is why the Chinese buy Australian coal. So Chinese bit coin miners should be located in their Western provinces, Just build the power plants there to burn the cheap coal to power the mining computers.
Was selling the birth certificates from cabbage patch dolls to illegals but ICE frowned on that......
Heck no. If you aren’t holding it in your hand, you don’t own it.
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Empire District Electric used that strategy. They built their power plants next to the mines.
My computer-genius son was mining Litecoin’s when they first started with 4 math computers he built himself and was making over $100/mo. doing so - but then the cost of the electricity to do the mining exceeded his income so he quit.
Is there some diabolical connection between Blocking Chain Migration and Block Chaining? I think only one is good for our Economy.
Can you sell a bitcoin for dollars?
Who takes these fake coins in exchange for goods or services? Can you get real money for them, or are they like Star Treks “credits”?
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