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HooSingleBarrel

Joined: 2/11/03 Posts: 13445
Likes: 409


Article today said based on current trajectory of mining/transaction daily


processing power, by 2019 cryptocurrencies will require as much power draw on the grid as the entire USA, with that rising a couple years later to as much power draw as the entire world currently uses. It's a train wreck to clean energy advocates trying to reduce the footprint. Blockchain companies and proponents are trying to determine more efficient ways to manage, but that's a two-way street since making mining more efficient would also mean more supply of miners as the cost/benefit equation shifted.

The aggregate crowd-sourced mining processing ability across Bitcoin is supposed to rival that of the top 500 supercomputers in the world...combined; there's just so many farms and it's aggregated into incredible power overall.

Bitcoin is entertaining as hell to watch, but I'm not buying into that market. Too much wild west for me.


[Post edited by HooSingleBarrel at 12/06/2017 5:04PM]

(In response to this post by hoomonger)

Posted: 12/06/2017 at 5:02PM



+0
Current Thread:
 
  
Bitcoin $400,000 according to Mark Yusko -- BrevardHoo 12/06/2017 11:04AM
  The miners are trying to validate prior transactions -- BrevardHoo 12/06/2017 6:24PM
  You mean like the Dutch Tulip? :) ** -- Blah 12/06/2017 2:39PM
  So are you saying Yusko is full of shit or what? ** -- BrevardHoo 12/06/2017 2:35PM
  I think he keeps his own money where he can get it -- Toolie92 12/06/2017 2:41PM
  You are not answering the question: $400k or not? ** -- BrevardHoo 12/06/2017 2:44PM
  On paper? -- Toolie92 12/06/2017 2:54PM
  By fake money do you mean USD? ** -- 2001Hoo 12/06/2017 5:14PM
  USDT -- Toolie92 12/06/2017 5:27PM
  Enjoy the ride -- Toolie92 12/06/2017 3:22PM
  And Oswald didn't shoot Kennedy ** -- BrevardHoo 12/06/2017 3:34PM
  That is not even close to accurate -- CavalierLion 12/06/2017 4:22PM
  Steam just ended Bitcoin support -- Toolie92 12/06/2017 5:36PM
  For every Steam there are a thousand companies paying -- BrevardHoo 12/06/2017 6:35PM
  It has moved way beyond that on the shady scale -- Toolie92 12/06/2017 2:24PM
  What about MasterCard or Amex/Versa? ** -- hooyorkcity 12/06/2017 6:35PM
  Yes and no, I think -- MaizeAndBlueWahoo 12/06/2017 12:25PM
  I think Bitcoin is shady right now..... -- Zhoo 12/06/2017 12:31PM
  Pretty sure Microsoft and Expedia would let you -- BrevardHoo 12/06/2017 12:27PM
  Let me rephrase the last part a bit, actually -- MaizeAndBlueWahoo 12/06/2017 12:30PM
  And technically the case when it comes to the $ too. -- The_Superhoo 12/06/2017 1:22PM
  Just like any other asset that you profit from ** -- Faz d. Hoo 12/06/2017 12:30PM
  Cap gain ** -- BrevardHoo 12/06/2017 12:25PM
  Nope, you're probably right. ** -- Lucius 12/06/2017 11:14AM

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