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texasfiddler

(2,199 posts)

15. Each Bitcoin transaction consumes 1,173 kilowatt-hrs--more than the average American uses in a month

Mon Jul 11, 2022, 08:41 PM

Jul 2022

I am convinced this anonymous form of confirming monetary transactions with blockchain only benefits money launderers, drug lords, human trafficking, ransomware transactions, etc. The only benefit is the anonymous part. At 10 cents per kWhr that is $117 per transaction. That is not sustainable. I can make some fast and meaningful transactions at a traditional bank for much less $$ than that. The difference is my transaction is fully documented and traced back to me. I have nothing to hide. Plus, all the additional CO2 in the atmosphere. I agree with Warren Buffet and his advisors, this will fail miserably.

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Bitcoin Miners Shut Off Rigs as Texas Power Grid Nears Brink [View all] bronxiteforever Jul 2022 OP

Global Bitcoin mining may generate over 65 megatons of carbon emissions per year VMA131Marine Jul 2022 #1

+1 Thanks for the science info! bronxiteforever Jul 2022 #3

I could have sworn Abbott ordered the energy gods to make these problems go away!?!??! dutch777 Jul 2022 #2

Just another way for the... 2naSalit Jul 2022 #4

It seems the Bitcoin miners.... SergeStorms Jul 2022 #5

and Republicans. Gotta include the GQP, or it's just not dystopian enough. nt eppur_se_muova Jul 2022 #6

+1 excellent point. Sorry I forgot. bronxiteforever Jul 2022 #11

I was expecting The Onion Hermit-The-Prog Jul 2022 #7

First time I ever heard of a Bitcoin miner doing the ethical thing. comradebillyboy Jul 2022 #8

look at the price of crypto... might not be profitable to mine right now. WarGamer Jul 2022 #9

Be careful what you wish for, Texas! ARPad95 Jul 2022 #10

+1 essential reading thank you! bronxiteforever Jul 2022 #14

Each Bitcoin transaction consumes 1,173 kilowatt-hrs--more than the average American uses in a month texasfiddler Jul 2022 #15

I clearly do not understand bitcoin. MissB Jul 2022 #12

wtf?? I had no idea. nt ecstatic Jul 2022 #13

Agree with your hellishly dystopian take. Add in whole Hortensis Jul 2022 #16

+1 those homes don't sound livable as climate change progresses. bronxiteforever Jul 2022 #17