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Bitcoin mining and global warming

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bmw
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Joined: Sun Dec 05, 2004 1:02 am

Bitcoin mining and global warming

Post by bmw » Sun Oct 17, 2021 10:39 am

By 2024, mining of the cryptocurrency in China alone could use as much power as the entire nation of Italy uses in a year, with greenhouse gas emissions equalling those of the Czech Republic.

...

Using simulation-based models, the researchers found that, short of any policy interventions, bitcoin mining in China will peak in 2024 consuming 296.59 terawatt hours of electricity—as much as a medium sized country—and generate 130.50 million metric tons of carbon emissions. The authors further note that this consumption and the resulting emissions could derail China’s efforts to decarbonize its own energy system.
https://www.forbes.com/sites/davidrvett ... 0b64c15a8f

And that is just Bitcoin and just China. Mining Bitcoin (or any crypto-currency for that matter) is power-hungry. Very power-hungry. Yet, in all the rhetoric I hear on us needing to curb our carbon emissions, I never hear anybody say anything about regulating the mining of crypto. Why is that? Sure, the author of the article above has some ideas, but I've never heard any politician here in the U.S. so much as address this problem.



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Turkeytop
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Re: Bitcoin mining and global warming

Post by Turkeytop » Sun Oct 17, 2021 1:18 pm

How can they mine something that's only imaginary? It's like unicorn farming.


I started out with nothing and I still have most of it.

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TC Talks
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Joined: Wed Oct 26, 2005 2:41 am

Re: Bitcoin mining and global warming

Post by TC Talks » Sun Oct 17, 2021 4:04 pm

Turkeytop wrote:
Sun Oct 17, 2021 1:18 pm
How can they mine something that's only imaginary? It's like unicorn farming.
You've just defined the framework for all financial markets in a nutshell


“The more you can increase fear of drugs, crime, welfare mothers, immigrants and aliens, the more you control all of the people.”
― Noam Chomsky

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Lester The Nightfly
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Re: Bitcoin mining and global warming

Post by Lester The Nightfly » Sun Oct 17, 2021 4:21 pm

bmw wrote:
Sun Oct 17, 2021 10:39 am
By 2024, mining of the cryptocurrency in China alone could use as much power as the entire nation of Italy uses in a year, with greenhouse gas emissions equalling those of the Czech Republic.

...

Using simulation-based models, the researchers found that, short of any policy interventions, bitcoin mining in China will peak in 2024 consuming 296.59 terawatt hours of electricity—as much as a medium sized country—and generate 130.50 million metric tons of carbon emissions. The authors further note that this consumption and the resulting emissions could derail China’s efforts to decarbonize its own energy system.
https://www.forbes.com/sites/davidrvett ... 0b64c15a8f

And that is just Bitcoin and just China. Mining Bitcoin (or any crypto-currency for that matter) is power-hungry. Very power-hungry. Yet, in all the rhetoric I hear on us needing to curb our carbon emissions, I never hear anybody say anything about regulating the mining of crypto. Why is that? Sure, the author of the article above has some ideas, but I've never heard any politician here in the U.S. so much as address this problem.
I would agree that currency mining appears to be incredible wasteful. As for politicians addressing it, most of those fuckers can barely turn on a laptop computer without the help of some bright-eyed staffer let alone grasp what's going on with Bitcoin...

"...the Internet is not something that you just dump something on, it's not a big truck. It's a series of tubes."

- Fmr. Senator Ted Stevens



paul8539
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Joined: Fri Dec 10, 2004 5:20 pm

Re: Bitcoin mining and global warming

Post by paul8539 » Thu Oct 21, 2021 1:18 am

The Communist Chinese are mining bitcoin because it is power-hungry. The Communist Chinese are power hungry.



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