Bitcoin
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- shapesalad0
- ohshapesalad
- Empty NFT? I’ll give you $10KNBQ00
- Awaiting that.shapesalad
- shapesalad3
- i know a guy that runs a huge rig in his employers server room, another with one at his grans house. it seems to only be worthwhile if you don't pay the billkingsteven
- think its around 2 noop profit for 1 noop of electricity at todays prices. so your looking at a few months running just to pay off a small rig...kingsteven
- if they use super-clean coal, it all balances out in the endGnash
- Thats in the UK mind, where electricity costs twice as much as the states, electricity in China is half again...kingsteven
- The environment wasn't an issue until Bitcoin showed up.
Clown Applying Makeup dot jpg.palimpsest
- Gnash10
- Fixed!palimpsest
- yup!Krassy
- read up on it though.inteliboy
- kingsteven0
Since it's been impossible to find a new graphics card (not for mining) I put the money burning a hole in my pocket in to Ethereum and EWT. It would seem I'm currently £200 up in 4 days even with exchange fees and a fall in the pound... Just going to put the graphics card on credit and forget about this wallet for a few years!
- wrong thread?ESKEMA
- jkESKEMA
- hah, i cant get a 3080 because of bitcoin!kingsteven
- bitcoin mining only happens on ASICS, so not sure what you're talking aboutESKEMA
- i know nothing about mining, wth are these folks buying up all the GTX30 mining then? ETH? I've only ever looked at NiceHash's website and the profitability iskingsteven
- always stated in BTC. is that just a conversion then?kingsteven
- yup. Bitcoin mining is highly specialized nowadays. can't do it from a home PC.ESKEMA
- ahh, good to know.kingsteven
- Eth mining uses GPUs, Bitcoin needs specialised hardware = double the environmental damagegrafician
- i'm sure i knew that back in the day and totally forgotkingsteven
- My son is building a pc. He’s had all the bits, except the gpu, for months - he can’t find oneGnash
- it's nuts, hopefully will ease up soon with the new AMDs landing and RTX 3070/80Ti cards on the way.kingsteven
- shapesalad-1
- someone send him a to the moon meme.uan
- *somebodyuan
- Good analysis.shapesalad
- shapesalad-1
@elonmusk
"Tesla is using only internal & open source software & operates Bitcoin nodes directly.
Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency."
"Pay by Bitcoin capability available outside US later this year"
"You can now buy a Tesla with Bitcoin"
- posted 24-3-21shapesalad
- soooo... you buy an asset that is guaranteed to depreciate in value very quickly using a 'currency' that is likely to dramatically appreciate in value.BarryEvans
- For how longdrgs
- "Given the carbon footprint of bitcoin mining, using it to buy a Tesla would create the equivalent of 60 fossil fuel engine vehicles" from ft.com articlegrafician
- What does it mean? 60 cars to keep the whole network running? That's nothingdrgs
- that makes no sense, i think it means to manufacture the car? every time i see someone bring fossil fuel generated mains electricity infrastructure in tokingsteven
- the electric car argument a big Shell logo appears right in the middle of their forehead.kingsteven
- Maybe it's per some time unit? 60 cars per day?drgs
- its a custom https://btcpayserver… i guesssted
- NBQ000
Anyone know more about this?
- NBQ000
- This has a decent explanation in the first 6 mins.sted
- One thing what isn't accurate is that you can block transacions in really nasty ways.sted
- LOL damn then it turns into a video about various people claiming the invention of bitcoin.sted
- ahahah David Chaum declined gates offer, the government shut him down etcetc. please bitch the internet is a worldwide network, isn't limited to the US.sted
- nb11
- LolNBQ00
- oh manGuyFawkes
- oh my lordmantrakid
- Image thinking about how cool one felt ordering a pizza with 40 bitcoinsGnash
- 25 Bitcoins today worth $1,310,987.50dbloc
- imagine all the people who havent take Bitcoin seriously and lost them thru the yearsBennn
- and it's still so early. imagine in 10 yearsESKEMA
- ^Exactly. In 10 years, these Starcraft tournaments will be giving out 250 BitCoinsnb
- drgs1
https://digiconomist.net/bitcoin…
Single transaction = 801.27 kWh
Equivalent to the power consumption of an average U.S. household over 27.46 days
Equivalent to the carbon footprint of 843,549 VISA transactions or 63,434 hours of watching Youtube.Your monthly electricity bill is what it costs to make one transaction?
I mean, Bitcoin's carbon footprint will continue to get bigger. Attention to environmental concerns continues to increase. I don't see how this ponzi will not get cancelled at some point.
Sometime in 2027 a "Bitcoin accepted" sticker will be like putting a swastika in your store window.
Discuss
- I've read both sides and think the truth lies in the middle somewhere. Also always wary of crypto FUD and the powers that be who push narratives...inteliboy
- 801.27 kWh is 186.808 kg CO2. It costs about $3 to carbon offset that.
1 bitcoin = $53,464, the offset price is 0.0056% of a bitcoin.palimpsest - We'll eventually be able to offset ALL trades for a handful of bitcoin. Fair trade. Everybody wins.palimpsest
- Throw NFTs in the mix and we'll solve the climate issue faster:
https://www.qbn.com/…palimpsest - Read that institutional investors don't want to invest in the "China coin" as most mining is done there so it's not decentralised anymoregrafician
- China banned crypto but not mininggrafician
- India is moving to ban cryptografician
- Today about $8 bil. in bitcoin options are expiring, let's see how that will play on the price lolgrafician
- just spend the profit before the planet looks like mars.
by 2027 ANY carbon footprint should be banned (or 2030/2035). why wouldn‘t the crypto market adapt?uan - $6B* ^grafician
- Proof of work concept/mining is a mistake. Ethereum 2.0 is moving towards proof of stake (?), but for Bitcoin it's not possible.drgs
- A swastika? Bro you are seriously overestimating how much people care about the environmentnb
- bitcoin will transact in the billions per transaction rendering those numbers ridicule. Cardano, ETH2, etc will handle the coffee drinking economy with POSESKEMA
- And LightningESKEMA
- @ESKE lol dude you literally speculate statements, do you have any facts, proof on those statements? or just trolling again?grafician
- it's just an opinion man. Disregard at willESKEMA
- @ESK it's rather hard to take you seriously about anything after proposing all this nonsense really smhgrafician
- I don't careESKEMA
- I mean buying crypto with fiat so you can pay for coffee with crypto is baffling, but hey, life is hard already...grafician
- If you mean exchanging fiat for crypto and go to another country and pay with crypto for coffee is dumb? The alternative is buying local currency from bank.ESKEMA
- now imagine you didn't buy it. Someone sent it to you because you sold a jpg. It's cool to be able to buy coffee with jpgs. NESKEMA
- you can also imagine realistic scenarios where you buy $10 of crypto, for buying sometimes a coffee.ESKEMA
- Well, historicaly, you tend to be able to buy a lot more coffees than you could with your orginal $ and can basically pay for coffee forever without more inputESKEMA
- Fuck off with that coffee shit, ENEMAbabydick
- Fuck You, Candy!ESKEMA
- @ESKEMA Well I get your points but you get that they are stupid af points? It's like trying to reinvent modern civilisation to buy a coffee...grafician
- "It's cool to be able to buy coffee with jpgs."
Sums up the quality of the analysis.palimpsest - Also, you "[exchange] fiat for crypto" but "[buy] local currency from bank".
Definitely not a cult.palimpsest - Crypto bros have this redpill attitude towards fiat but can't see they're playing into the same system.palimpsest
- I don't think they are the same system if one has infinite supply and the other a hard cap, and one is permissionless and the other highly restricted.ESKEMA
- we'll live with both for quite a whileESKEMA
- While I think all you have to do is ask yourself what is 1 Bitcoin worth.palimpsest
- 1 Bitcoin is worth what one human is willing to pay for it. We are witnessing how it plays out, right now, 1 human is willing to exchange about $60k for one.ESKEMA
- 1 Bitcoin is worth 60k Dollars.
There you have it!
You are changing an explicit master for an implicit one.palimpsest - I maintain that you are playing in the same system.palimpsest
- you could replace the dollar value by a house, or gold, or work. or whatever someone is willing to exchange for it.ESKEMA
- Yes, you could have answered any of those but chose to answer in dollars. You said yourself that a Bitcoin was worth 60k dollars. That is what is worth.palimpsest
- We're just going to go on circles from here.palimpsest
- shapesalad-3
In reply to all this talk about Bitcoin using too much electricity...
What If you tap natural resources in Iceland to get that power? (they already do) and then replace fiat currencies (that can't rely 100% on eco energy) with crypto? Surely a 100% replacement = better for environment.
Think about all the energy that goes into producing coins: mining, smelting, minting. And paper notes, trees, plastics, inks. Then think about all the energy used to store and transport all those coins, the diesel powered heavy armoured money transport vans etc, that goes into moving all that cash around daily.
Think about all the millions of car journeys taken each day with people inside the cars with wallets holding a weight of coins. Could be as small as 10g. But 10g x millions of people in cars x millions of car journeys each = the amount of additional petrol/diesel burned to move that tiny extra weight = all adds up.
If the person using bitcoins, charged their phone at home, and their home is powered by nuclear energy, and they participated in economic transactions using bitcoins that were minted up in Iceland on some natural power source.... surely that is better than the person carrying around a pocket full of dead trees and smelted minerals.
- and don't forget, bitcoin isn't going to be the digital currency, it's going to be the digital gold. Other fast, less energy using cryptos will be currencies.shapesalad
- I like where this is headed.palimpsest
- I hooked up my GPu to the toilet. Every flush minesGnash
- I haven't used cash since 2010 or so. Nordic countries are done with banknotes, UK, Australia, China are pretty much cashless too.drgs
- Nordics = feeless debit card payments (merchant pays the fees).
USA = credit card payments where you pay the fees, but thats their problem.drgs - Google Pay/Apple Pay already getting a foothold, way ahead of crypto
https://i.imgur.com/…drgs - People refuse to listen to science.
If cars pollute buy an electric car. If capitalism has failed you invest in crypto.palimpsest - If Earth is being a bitch let's go to Mars.
Stop focusing on the problems and focus on the solutions.palimpsest - "bitcoin is bad because fossil fuels" is only a good argument against fossil fuels. it is however still relatively a lot of carbon for a cryptocurrency andkingsteven
- its mostly farmed in countries with cheap dirty electricity.kingsteven
- lol dude nobody is minting real money, I believe there's less than 1% real currency in circulation, this argument is dumb afgrafician
- here you go https://www.uscurren…grafician
- there's over $200T in the global economy? so $1.7T in cash is not even 1%grafician
- plus the point is to use all that energy FOR SOMETHING USEFUL! Using bitcoin is useless, it has 0 intrinsic value, but 100% speculative valuegrafician
- all your rhetoric is the typical crypto bro bullshit, with no real knowledge of how things really work, stop wasting your time writing itgrafician
- all your rhetoric is the typical MSM bullshit, with no real knowledge of how things really work, stop wasting your time writing itESKEMA
- @ESKE Have you something to add or just your usual trolling?grafician
- I've added an interesting discussion belowESKEMA
- but you seem very authoritarian over what should and shouldn't an individual choose to do with their own time.ESKEMA
- "If we can get this many people with disposable income on board with Bitcoin, maybe we can get every person on Earth to abandon the current monetary standard."toemaas
- ESKEMA1
I haven't finished watching yet but it's been a good conversation so far
- NBQ000
Hmm
- Who is dumber:
a) the youtuber who thinks he's figured out something that Ray fucking Dalio didn't?nb - b) the people who watch the youtubernb
- ^ cfuturefood
- Lighten up, nb. It’s a discussion. Not a life or death situation.NBQ00
- OH ok, continue on spinning your wheels discussing pointless nonsense. Your life!nb
- I'm fairly sure I recently read a long schpiel by Ray Dalio that absolutely did not imply 'RIP Bitcoin'Nairn
- Here:
https://www.bridgewa…
Can't be bothered to watch YT video so apos if repeated.Nairn
- Who is dumber:
- Milan1
99.98% less power: Lighthouse’s first Ethereum and Eth2 merge transaction
https://cointelegraph.com/news/9…
- shapesalad1
If you can’t beat them, join them:
- BaskerviIle2
Is bitcoin a reckless waster of energy, or more precisely, our precious carbon budget? What if we thought about this in a different way. Nick Grossman of USV (which is a crypto investor and runs a climate fund) does exactly that and argues that Bitcoin and crypto mining is “driving the energy transition from fossil fuels to renewables”. He takes this idea a step further by challenging our concepts of batteries. If you can translate electricity into something that can be used anywhere at any time, then you have a battery. Crypto mining converts electricity into value in the form of coins, which can be moved, exchanged, what have you. If we think of Bitcoin as a battery, the possible applications are varied and exciting.
- ESKEMA-2
"The Bloomberg columnist Noah Smith has a lot of thoughts on Bitcoin. Some of them are really solid and engage with the reality of the protocol itself, which is rare for a member of the mainstream media circuit. He also discloses that he owns Bitcoin, which is impressive for an economist and a member of the establishment. So I’m pretty happy with him overall. I don’t want this piece to be interpreted as a blanket critique of Noah’s stance on Bitcoin. However, Noah’s recent column in Bloomberg, Bitcoin Miners are on a Path to Self-Destruction, makes a few claims that warrant a response.
Noah’s basic premise is that Bitcoin miners are effectively hogging the grid in the various places where they operate and risk getting banned entirely. Not only is the notion of a global coordinated ban on mining far fetched, but Noah relies on a few claims that are dubious at best. Let’s investigate."- https://cbeci.org/mi…... umm... 65% of BTC's hashrate is in China... he sorta has a pointjonny_quest_lives
- grafician0
JUST IN: Goldman Sachs to begin offering Bitcoin to its clients
