I have long considered the idea of Bitcoin and other crypto-currency faintly ridiculous, but I had no idea how much harm they are actually causing.
How Bitcoin Mining Keeps Old Fossil-Fuel Plants Alive
I heard a story about this on NPR this morning, but when I did a search, this Mother Jones article came up.
Bitcoin mining
- Voronwë the Faithful
- At the intersection of here and now
- Posts: 46300
- Joined: Mon Nov 21, 2005 1:41 am
- Contact:
Bitcoin mining
"Spirits in the shape of hawks and eagles flew ever to and from his halls; and their eyes could see to the depths of the seas, and pierce the hidden caverns beneath the world."
-
- Posts: 7176
- Joined: Sat May 26, 2007 1:41 am
- Location: Cleveland, OH, USA
Re: Bitcoin mining
But at least it's a convenient way to pay ransomware hackers and other blackmailers.
-
- Posts: 298
- Joined: Sun Dec 06, 2020 6:13 pm
Re: Bitcoin mining
The whole economic model, including fiat currency, is ridiculous. It is only maintained through enforced ignorance.Voronwë the Faithful wrote: ↑Fri May 07, 2021 4:26 pm I have long considered the idea of Bitcoin and other crypto-currency faintly ridiculous, but I had no idea how much harm they are actually causing.
How Bitcoin Mining Keeps Old Fossil-Fuel Plants Alive
I heard a story about this on NPR this morning, but when I did a search, this Mother Jones article came up.
In a society built on deceit, telling truth is a seditious act
Re: Bitcoin mining
The best way to describe cryptocurrency is as a pyramid scheme. Except most such schemes don't damage the environment to such degree.
Although as NE said, they are also useful for criminal purposes.
Although as NE said, they are also useful for criminal purposes.
If there was anything that depressed him more than his own cynicism, it was that quite often it still wasn't as cynical as real life.
Terry Pratchett, Guards! Guards!
Terry Pratchett, Guards! Guards!
- narya
- chocolate bearer
- Posts: 4904
- Joined: Sat Dec 03, 2005 7:27 am
- Location: Wishing I could be beachcombing, or hiking, or dragon boating
- Contact:
Re: Bitcoin mining
There are other crypto currencies that do not use mining, and therefore are more environmentally friendly. Such as Ethereum.
In the midst of winter, I found there was, within me, an invincible summer. ~ Albert Camus
-
- Posts: 7176
- Joined: Sat May 26, 2007 1:41 am
- Location: Cleveland, OH, USA
Re: Bitcoin mining
Just over a month ago, Texas's governor, Greg Abbott, tweeted: "Texas Is Becoming A Mecca For Bitcoin Miners."
I wonder how much energy that uses.
I wonder how much energy that uses.
- Voronwë the Faithful
- At the intersection of here and now
- Posts: 46300
- Joined: Mon Nov 21, 2005 1:41 am
- Contact:
Re: Bitcoin mining
Anyone else see the irony of someone like Abbott using the term 'Mecca'?
"Spirits in the shape of hawks and eagles flew ever to and from his halls; and their eyes could see to the depths of the seas, and pierce the hidden caverns beneath the world."
Re: Bitcoin mining
Irony is dead.
Context, today's news.
Texas grid operator urges electricity conservation as many power generators are unexpectedly offline and temperatures rise
Context, today's news.
Texas grid operator urges electricity conservation as many power generators are unexpectedly offline and temperatures rise
If there was anything that depressed him more than his own cynicism, it was that quite often it still wasn't as cynical as real life.
Terry Pratchett, Guards! Guards!
Terry Pratchett, Guards! Guards!