Bitcoin Will Use 0.5% of World's Electricity by End of 2018, Finds Study
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Bitcoin Will Use 0.5% of World's Electricity by End of 2018, Finds Study
Fuck cryptocurrency like this now and forever.
[...]
Economist Alex de Vries, whose Digiconomist blog hosts the Bitcoin Energy Consumption Index, quantified bitcoin’s energy requirements in a paper published in the scientific journal Joule on 16 May.
The electricity demands comes from the computing power required to mine bitcoin – the process of generating new units of the cryptocurrency by solving complex mathematical puzzles. These puzzles are designed to get more complicated as bitcoin’s network grows, thus requiring even greater computing power.
It is the first time estimates of bitcoin’s energy demands have been peer-reviewed and adds considerable weight to the debate of how to address the environmental impact of the world’s most valuable cryptocurrency.
[...]
Fuck cryptocurrency like this now and forever.
Link to the actual study: https://www.cell.com/joule/fulltext/S2542-4351(18)30177-6
By batong Go To PostShut it down.
Down.
It's provides the much needed service of lubricating black market drug deals and human trafficking though.
By FortuneFaded Go To PostSo almost as much as your mum's vibrator.why FF why
By Xpike Go To Postbring back communismit never left
By Xpike Go To Postbring back communismChina dominates mining, mostly coming directly from socialistic policies.
Cryptocurrency is fine, it's proof-of-work that is the problem.
By reilo Go To Postwhy FF why
I assumed he was speaking from experience and knows his mother is really bad at energy conservation.
By Fenderputty Go To PostI assumed he was speaking from experience and knows his mother is really bad at energy conservation.We have a specialised wind farm.
By diehard Go To PostChina dominates mining, mostly coming directly from socialistic policies.Eh. POW isn't the problem. It's that it escalated in a way that people didn't really anticipate with ASIC miners and the like.
Cryptocurrency is fine, it's proof-of-work that is the problem.
And Changing it, because of those miners, is going to be almost impossible for BTC.
I know ETH is already looking at changing how they do this stuff.