Do You BitCoin?

[DrDawkinstein]

On 3/6/2024 at 12:30 PM, Doc said:

BTC hit its all-time high yesterday and then cryptos crashed.  They're back up today.

 

We good.

[CowgirlsFan]

No eventhough there's a factory in my hometown.

[Turk71]

 Total consumption of electricity used for Bitcoin mining world wide doubled between Jan 1st 2023 and December 31st 2023.

The low end estimated total of ~150 TWH is ~equal to the total electricity consumed by the countries of Ireland, Denmark, New Zealand, and Israel combined. 

Just think about that, consuming the same amount of electricity as 4 modern countries combined to produce virtual currency that only ever exists virtually.

  Meanwhile in the corporeal world the oceans are rising at an ever increasing rate, icebergs, permafrost, polar caps, mountain glaciers melting, unusually powerful and destructive weather becoming more common, species disappearing at increasing rates, drought and famine, etc etc etc

What a time to invent such an energy consuming currency. Perhaps the Billionaires who own large chunks of the energy sector invented it? The fact that no one  knows who created Bitcoin,(except whoever invented Bitcoin of course)

is just inconceivable to me. Over $1.3 trillion dollars invested in a virtual currency that consumes the total electricity of 4 countries combined while the Earth is overheating, and virtually no one knows who is behind it.

I feel like I'm on planet Stupid.

Are we not men?

We are Devo

P.S. the electricity consumption is just one element of Bitcoin's impact

https://digiconomist.net/bitcoin-energy-consumption

 

Edited March 18 by Turk71

[Chicken Boo]

Like clockwork, the Bull Run has begun.

[DrDawkinstein]

Lets gooooooo

On 3/18/2024 at 3:58 AM, Turk71 said:

 Total consumption of electricity used for Bitcoin mining world wide doubled between Jan 1st 2023 and December 31st 2023.

The low end estimated total of ~150 TWH is ~equal to the total electricity consumed by the countries of Ireland, Denmark, New Zealand, and Israel combined. 

Just think about that, consuming the same amount of electricity as 4 modern countries combined to produce virtual currency that only ever exists virtually.

  Meanwhile in the corporeal world the oceans are rising at an ever increasing rate, icebergs, permafrost, polar caps, mountain glaciers melting, unusually powerful and destructive weather becoming more common, species disappearing at increasing rates, drought and famine, etc etc etc

What a time to invent such an energy consuming currency. Perhaps the Billionaires who own large chunks of the energy sector invented it? The fact that no one  knows who created Bitcoin,(except whoever invented Bitcoin of course)

is just inconceivable to me. Over $1.3 trillion dollars invested in a virtual currency that consumes the total electricity of 4 countries combined while the Earth is overheating, and virtually no one knows who is behind it.

I feel like I'm on planet Stupid.

Are we not men?

We are Devo

P.S. the electricity consumption is just one element of Bitcoin's impact

https://digiconomist.net/bitcoin-energy-consumption

 

 

How much electricity does Bank of America, Wells Fargo, HSBC, JPMorgan, Chase, CCB, ICBC, etc all use to power data centers, servers, office buildings, branches, etc?

 

edit: AI answer: According to available data, the world's largest banks collectively use around 258.85 terawatt-hours (TWh) of electricity per year, with the majority of this energy consumption coming from their data centers

Edited November 11 by DrDawkinstein

[Augie]

19 minutes ago, DrDawkinstein said:

Lets gooooooo

 

How much electricity does Bank of America, Wells Fargo, HSBC, JPMorgan, Chase, CCB, ICBC, etc all use to power data centers, servers, office buildings, branches, etc?

 

edit: AI answer: According to available data, the world's largest banks collectively use around 258.85 terawatt-hours (TWh) of electricity per year, with the majority of this energy consumption coming from their data centers

 

 

 

…..but at least they do something real.  😊

 

 

I’ll be on my way now. 

[DrDawkinstein]

1 minute ago, Augie said:

 

 

 

…..but at least they do something real.  😊

 

 

I’ll be on my way now. 

 

Do they tho? Do they? 🤔

[Augie]

On 11/11/2024 at 10:32 AM, DrDawkinstein said:

 

Do they tho? Do they? 🤔

 

Yep, they absolutely do. Without them the world as we know it collapses. You can’t go to the mall and buy a pair of socks or hit the ATM without what they do, not to mention the big picture of things like global custodial services. 

 

If bitcoin went away, the only people affected are some gamblers and some Russian oligarchs. It’s dust in the wind. Call me crazy, but I’m of the Warren Buffet School of Investing: If I can’t understand it, I’m not investing in it. It should have some purpose or value. My Chase card gives me the ability to purchase things, Goldman has done some real tax saving stuff for us, another bank provides my wife with a nice income allowing me to travel to Bills games as desired, etc. Some other banks will be sending me checks every month when I decide to start collecting. 

 

Bitcoin is more like the financial version of Schrödinger’s cat. 

 

 

.

Edited November 12 by Augie

[aristocrat]

What happened to the guy in here who had all his money in random coins and the guys wife left him?

[jayg]

15 minutes ago, aristocrat said:

What happened to the guy in here who had all his money in random coins and the guys wife left him?

Tom Brady? 

[Jauronimo]

30 minutes ago, aristocrat said:

What happened to the guy in here who had all his money in random coins and the guys wife left him?

@Poleshifter is still around.  I don't think Cripple coin has made him a millionaire yet so he's stuck with us.

[Poleshifter]

2 hours ago, aristocrat said:

What happened to the guy in here who had all his money in random coins and the guys wife left him?

Are you considering XLM as a “random coin”?  My money is in XLM.

 

[aristocrat]