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Alan
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Joined: December 19th, 2001, 4:01 am
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Re: End of bitcoin?

May 21st, 2021, 2:59 pm

Unlike mainstream traditional currencies, bitcoin is virtual and not made from paper or plastic, or even metal. Bitcoin is virtual but power-hungry as it is created using high-powered computers around the globe.

At current rates, such bitcoin "mining" devours about the same amount of energy annually as the Netherlands did in 2019, data from the University of Cambridge and the International Energy Agency shows.
The conclusion is clear: either bitcoin or the Netherlands has got to go.   :D
Related, some kind of chutzpah award should go to: 
Bitcoin Miners Are Giving New Life to Old Fossil-Fuel Power Plants    
 
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bearish
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Joined: February 3rd, 2011, 2:19 pm

Re: End of bitcoin?

June 1st, 2021, 11:42 pm

So now we have had, in short order, gasoline supplies and then beef supplies shut off. Ransomware as service, with secure payments courtesy of Bitcoin. An invention that serves no other purpose and consumes enough very dirty energy to make Elon Musk blush. EMP attacks on certain Russian locations are obvious partial solutions, but banning any transaction that converts Bitcoin into real world cash would be a kinder and gentler starting point.
 
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tagoma
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Joined: February 21st, 2010, 12:58 pm

Re: End of bitcoin?

June 7th, 2021, 11:44 am

The 2021 Bitcoin Conference that took place in Miami last week has finally exposed the level of insanity in the cryptosphere if you ask me.
 
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bearish
Posts: 6521
Joined: February 3rd, 2011, 2:19 pm

Re: End of bitcoin?

June 11th, 2021, 2:35 am

An excellent development is that said Miami BTC conference has now been confirmed as a Covid super-spreader event. Yay!