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(CNBC)   Bitcoin mining moving to greener pastures   (cnbc.com) divider line
    More: Obvious, Wind power, World energy resources and consumption, Fossil fuel, Renewable energy, Natural gas, Peak oil, Renewable energy development, Peak uranium  
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591 clicks; posted to Business » on 21 Jul 2021 at 8:40 AM (11 days ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



31 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2021-07-21 7:58:41 AM  
Ferengis masturbating. A pox on them (and their sycophants).
 
2021-07-21 8:38:40 AM  
Lung, that is.
 
2021-07-21 8:45:13 AM  
media1.giphy.comView Full Size
 
2021-07-21 8:58:42 AM  
What's depressing is that they can find dams and build solar plants to mine Bitcoin but to making solar plants and energy storage to power cities or even just individual houses is somehow beyond our reach. Like that proposed solar farm in Montana... Great idea, but the people who wanted to build it were going to just use all the power to cryptomine. Just pissing it away basically, for the benefit of the capitalists (literally capital owners).

How farking dumb are we as a species?
 
2021-07-21 9:00:58 AM  
Bitcoin mining isn't nearly as bad for the environment as it used to be, new data shows

So what?  None of this creates any value.  Bitcoins are just tokens that you can trade for other bitcoins, and that you hope someone will give you real money for.  The world is not a better place since their creation.  They fulfilled no need in the marketplace.  There is nothing they do that isn't already done better.  A distributed ledger is not better than a centralized database.  It just sounds like rebellion to libertarians.  The unbanked in Africa already have mobilepay - which they've had for 20 years.  You're just lighting stacks of real value on fire to create a non-value "solution" looking for a problem to solve.

The only value in Crypto is getting rich overnight while stupid Boomer geezers sit around putting their stupid money in stocks owned by companies which produce things that people pay those companies money for.  Once getting rich quick ceases to be happening, the appeal quickly vanishes.  Do a google search for "Bitcoin gains screenshot" because winning gamblers love to brag about how much they are winning.  You'll notice that these Bitcoin millionaires are 99% guys (it's almost always just guys) who turned $1,000 into $5,000.  It's small potatoes for almost all of them.  The millionaires are a tiny amount of early adopters who dumb lucked out.
 
2021-07-21 9:09:21 AM  
I'm just wanting it to farking end so the god damn GPU shortage will end. Seriously, those cards deserve more than to be destroyed for shiatty crypto to be used by criminals.
 
2021-07-21 9:28:35 AM  

jayphat: I'm just wanting it to farking end so the god damn GPU shortage will end. Seriously, those cards deserve more than to be destroyed for shiatty crypto to be used by criminals.


Like video gaming is some high endavour?
 
2021-07-21 9:30:30 AM  
...isn't nearly...as it used to be...


Those are some pretty heavy qualifiers.


"We don't waste as much electricity as we used to" is what they are saying. It's still harmful is what they are saying.


But hey, money without having to do an honest days work, right?
 
2021-07-21 9:32:56 AM  
Yeah, if we can just lower the carbon footprint of child sex trafficking and fentanyl smuggling, everything will be cool.
 
2021-07-21 9:44:11 AM  

adamatari: What's depressing is that they can find dams and build solar plants to mine Bitcoin but to making solar plants and energy storage to power cities or even just individual houses is somehow beyond our reach. Like that proposed solar farm in Montana... Great idea, but the people who wanted to build it were going to just use all the power to cryptomine. Just pissing it away basically, for the benefit of the capitalists (literally capital owners).

How farking dumb are we as a species?


Powering bitcoin mining and powering cities using renewables are entirely different problems.

With a bitcoin mining op you can modify load to match production instantly and at any time.  When you are powering a city, it is the opposite, you have to constantly modify production to meet load demand.    One of those is much easier to pull off than the other and most of the cost of running a grid is all the load balancing you have to do.

/Crypto-mining is still a pointless waste of electricity.
 
2021-07-21 9:47:05 AM  

Rapmaster2000: Bitcoin mining isn't nearly as bad for the environment as it used to be, new data shows

So what?  None of this creates any value.  Bitcoins are just tokens that you can trade for other bitcoins, and that you hope someone will give you real money for.  The world is not a better place since their creation.  They fulfilled no need in the marketplace.  There is nothing they do that isn't already done better.  A distributed ledger is not better than a centralized database.  It just sounds like rebellion to libertarians.  The unbanked in Africa already have mobilepay - which they've had for 20 years.  You're just lighting stacks of real value on fire to create a non-value "solution" looking for a problem to solve.

The only value in Crypto is getting rich overnight while stupid Boomer geezers sit around putting their stupid money in stocks owned by companies which produce things that people pay those companies money for.  Once getting rich quick ceases to be happening, the appeal quickly vanishes.  Do a google search for "Bitcoin gains screenshot" because winning gamblers love to brag about how much they are winning.  You'll notice that these Bitcoin millionaires are 99% guys (it's almost always just guys) who turned $1,000 into $5,000.  It's small potatoes for almost all of them.  The millionaires are a tiny amount of early adopters who dumb lucked out.


It's better when money is spent on important consumer goods!
Fark user imageView Full Size
 
2021-07-21 9:58:16 AM  

fasahd: Rapmaster2000: Bitcoin mining isn't nearly as bad for the environment as it used to be, new data shows

So what?  None of this creates any value.  Bitcoins are just tokens that you can trade for other bitcoins, and that you hope someone will give you real money for.  The world is not a better place since their creation.  They fulfilled no need in the marketplace.  There is nothing they do that isn't already done better.  A distributed ledger is not better than a centralized database.  It just sounds like rebellion to libertarians.  The unbanked in Africa already have mobilepay - which they've had for 20 years.  You're just lighting stacks of real value on fire to create a non-value "solution" looking for a problem to solve.

The only value in Crypto is getting rich overnight while stupid Boomer geezers sit around putting their stupid money in stocks owned by companies which produce things that people pay those companies money for.  Once getting rich quick ceases to be happening, the appeal quickly vanishes.  Do a google search for "Bitcoin gains screenshot" because winning gamblers love to brag about how much they are winning.  You'll notice that these Bitcoin millionaires are 99% guys (it's almost always just guys) who turned $1,000 into $5,000.  It's small potatoes for almost all of them.  The millionaires are a tiny amount of early adopters who dumb lucked out.

It's better when money is spent on important consumer goods!
[Fark user image 300x168]


Some things produce low value.  Therefore, everything produced is low value.

Great job.
 
2021-07-21 10:04:32 AM  

The Big H: jayphat: I'm just wanting it to farking end so the god damn GPU shortage will end. Seriously, those cards deserve more than to be destroyed for shiatty crypto to be used by criminals.

Like video gaming is some high endavour?


Video gaming is the highest endeavor.

/divorced
 
2021-07-21 10:21:54 AM  

fasahd: Rapmaster2000: Bitcoin mining isn't nearly as bad for the environment as it used to be, new data shows

So what?  None of this creates any value.  Bitcoins are just tokens that you can trade for other bitcoins, and that you hope someone will give you real money for.  The world is not a better place since their creation.  They fulfilled no need in the marketplace.  There is nothing they do that isn't already done better.  A distributed ledger is not better than a centralized database.  It just sounds like rebellion to libertarians.  The unbanked in Africa already have mobilepay - which they've had for 20 years.  You're just lighting stacks of real value on fire to create a non-value "solution" looking for a problem to solve.

The only value in Crypto is getting rich overnight while stupid Boomer geezers sit around putting their stupid money in stocks owned by companies which produce things that people pay those companies money for.  Once getting rich quick ceases to be happening, the appeal quickly vanishes.  Do a google search for "Bitcoin gains screenshot" because winning gamblers love to brag about how much they are winning.  You'll notice that these Bitcoin millionaires are 99% guys (it's almost always just guys) who turned $1,000 into $5,000.  It's small potatoes for almost all of them.  The millionaires are a tiny amount of early adopters who dumb lucked out.

It's better when money is spent on important consumer goods!
[Fark user image 300x168]


or, maybe, stuffed in a mattress or buried in mason jars?

Or maybe just live a better life and you don't need much.
 
2021-07-21 10:22:59 AM  

Beta Tested: adamatari: What's depressing is that they can find dams and build solar plants to mine Bitcoin but to making solar plants and energy storage to power cities or even just individual houses is somehow beyond our reach. Like that proposed solar farm in Montana... Great idea, but the people who wanted to build it were going to just use all the power to cryptomine. Just pissing it away basically, for the benefit of the capitalists (literally capital owners).

How farking dumb are we as a species?

Powering bitcoin mining and powering cities using renewables are entirely different problems.

With a bitcoin mining op you can modify load to match production instantly and at any time.  When you are powering a city, it is the opposite, you have to constantly modify production to meet load demand.    One of those is much easier to pull off than the other and most of the cost of running a grid is all the load balancing you have to do.

/Crypto-mining is still a pointless waste of electricity.


Bitcoin miners don't scale down to the amount of renewable energy provided. That is just a pipe-dream.

As for the city, well, when I can put 8MW into either cities or cryptominers, I can still only use every watt just the once. When building renewables and using them all for crypto, then the cities will keep running on non-renewables. Nett the only difference is that we've now got more energy use, and thus by default more pollution.
 
2021-07-21 11:03:01 AM  
Here's a neat one:

Fark user image

https://nano.org

Instant transactions.  No fees.  No mining.  No inflation.  Small per-user blockchains.  The entire network requires one wind turbine to run.

So, all of Bitcoin's utility and value storage with none of the nastiness.

If green solutions are a priority, this one seems a good option.
 
2021-07-21 11:05:02 AM  

snowblur: So, all of Bitcoin's utility


Still none then?
 
2021-07-21 11:16:46 AM  

NuclearPenguins: snowblur: So, all of Bitcoin's utility
Still none then?


Well, no.  Nano has near-instant, no-fee transactions.

All coins were distributed (using captcha pages, over years), and there was a decent up-take in third-world nations that lack payment infrastructure.

A road-side cart can't get a Visa merchant account, but they can install a Nano app on their phone and accept electronic payment without fees.

This option actually seems a bit useful.
 
2021-07-21 11:19:57 AM  
Any decrease in power consumption is temporary. The system is fundamentally designed to attract more miners chasing after the same fixed (slowly decreasing over time) revenue stream.

Bitcoin 5 years ago was generating new blocks at the same rate as today, providing the same capabilities to end-users as today. And it did so at a tiny fraction of today's hashrate. The only difference is that during those 5 years, each mining pool operator was putting more and more effort into eating the other guys' lunch.
 
2021-07-21 11:43:37 AM  

adamatari: What's depressing is that they can find dams and build solar plants to mine Bitcoin but to making solar plants and energy storage to power cities or even just individual houses is somehow beyond our reach. Like that proposed solar farm in Montana... Great idea, but the people who wanted to build it were going to just use all the power to cryptomine. Just pissing it away basically, for the benefit of the capitalists (literally capital owners).

How farking dumb are we as a species?


They generally don't build the entire plant solely for the purpose of mining bitcoin.  They build the plant with a bitcoin mine attached to help subsidize the startup cost and later the power.  The mine runs when supply exceeds demand (i.e. a wind farm at night).  This also helps balance load on the power grid, which is a big deal in power engineering, and solar/wind in particular since you can't just turn off the sun.

In this way, bitcoin is actually helping green the energy grid, despite the people telling you its the worst thing to happen to the environment since the invention of coal.
 
2021-07-21 11:57:50 AM  

snowblur: Here's a neat one:

Instant transactions.  No fees.  No mining.  No inflation.  Small per-user blockchains.  The entire network requires one wind turbine to run.

So, all of Bitcoin's utility and value storage with none of the nastiness.

If green solutions are a priority, this one seems a good option.


Nano has always been a favorite project of mine.  It's too bad it doesn't have much traction.  I still own a little bit from back in the early days when it was called raiblocks.
 
2021-07-21 12:19:39 PM  

Rapmaster2000: Bitcoin mining isn't nearly as bad for the environment as it used to be, new data shows

So what?  None of this creates any value.  Bitcoins are just tokens that you can trade for other bitcoins, and that you hope someone will give you real money for.  The world is not a better place since their creation.  They fulfilled no need in the marketplace.  There is nothing they do that isn't already done better.  A distributed ledger is not better than a centralized database.  It just sounds like rebellion to libertarians.  The unbanked in Africa already have mobilepay - which they've had for 20 years.  You're just lighting stacks of real value on fire to create a non-value "solution" looking for a problem to solve.

The only value in Crypto is getting rich overnight while stupid Boomer geezers sit around putting their stupid money in stocks owned by companies which produce things that people pay those companies money for.  Once getting rich quick ceases to be happening, the appeal quickly vanishes.  Do a google search for "Bitcoin gains screenshot" because winning gamblers love to brag about how much they are winning.  You'll notice that these Bitcoin millionaires are 99% guys (it's almost always just guys) who turned $1,000 into $5,000.  It's small potatoes for almost all of them.  The millionaires are a tiny amount of early adopters who dumb lucked out.


There is a local gun store here with a Bitcoin ATM. You trade your coin for cash and buy a gun. Then you can take a shooting class taught by an overweight black gay Republican.

TX is weird.
 
2021-07-21 12:21:01 PM  

jayphat: I'm just wanting it to farking end so the god damn GPU shortage will end. Seriously, those cards deserve more than to be destroyed for shiatty crypto to be used by criminals.


Mining a card is easier on the GPU than gaming. I'd rather buy a used mining card than one used for gaming.
 
2021-07-21 12:21:53 PM  

Lord Bear: bitcoin is actually helping green the energy grid


i.imgur.comView Full Size


There it is. The stupidest thing I'll read all day.
 
2021-07-21 12:22:25 PM  

The Big H: jayphat: I'm just wanting it to farking end so the god damn GPU shortage will end. Seriously, those cards deserve more than to be destroyed for shiatty crypto to be used by criminals.

Like video gaming is some high endavour?



yea

without video gaming, how are Farkers going to save the World/Universe??
 
2021-07-21 12:23:39 PM  

Beta Tested: adamatari: What's depressing is that they can find dams and build solar plants to mine Bitcoin but to making solar plants and energy storage to power cities or even just individual houses is somehow beyond our reach. Like that proposed solar farm in Montana... Great idea, but the people who wanted to build it were going to just use all the power to cryptomine. Just pissing it away basically, for the benefit of the capitalists (literally capital owners).

How farking dumb are we as a species?

Powering bitcoin mining and powering cities using renewables are entirely different problems.

With a bitcoin mining op you can modify load to match production instantly and at any time.  When you are powering a city, it is the opposite, you have to constantly modify production to meet load demand.    One of those is much easier to pull off than the other and most of the cost of running a grid is all the load balancing you have to do.

/Crypto-mining is still a pointless waste of electricity.



with Proof of Stake, it'll use less than 0.5% of the electricity that Proof of Work uses.
 
2021-07-21 12:23:49 PM  

White_Scarf_Syndrome: jayphat: I'm just wanting it to farking end so the god damn GPU shortage will end. Seriously, those cards deserve more than to be destroyed for shiatty crypto to be used by criminals.

Mining a card is easier on the GPU than gaming. I'd rather buy a used mining card than one used for gaming.


What? Running a mining card on high 24/7 for over a year is better than me using it a couple hours a day a few days a week? And my case provides great airflow, these mining rigs people build are hot farking messes.
 
2021-07-21 1:57:35 PM  
Fark user imageView Full Size
 
2021-07-22 7:24:15 AM  

Linux_Yes: Beta Tested: adamatari: What's depressing is that they can find dams and build solar plants to mine Bitcoin but to making solar plants and energy storage to power cities or even just individual houses is somehow beyond our reach. Like that proposed solar farm in Montana... Great idea, but the people who wanted to build it were going to just use all the power to cryptomine. Just pissing it away basically, for the benefit of the capitalists (literally capital owners).

How farking dumb are we as a species?

Powering bitcoin mining and powering cities using renewables are entirely different problems.

With a bitcoin mining op you can modify load to match production instantly and at any time.  When you are powering a city, it is the opposite, you have to constantly modify production to meet load demand.    One of those is much easier to pull off than the other and most of the cost of running a grid is all the load balancing you have to do.

/Crypto-mining is still a pointless waste of electricity.


with Proof of Stake, it'll use less than 0.5% of the electricity that Proof of Work uses.


And yet still a pointless waste of electricity given that it still uses orders of magnitude more than any other kind of database transaction.
 
2021-07-22 9:34:07 AM  

Beta Tested: Linux_Yes: Beta Tested: adamatari: What's depressing is that they can find dams and build solar plants to mine Bitcoin but to making solar plants and energy storage to power cities or even just individual houses is somehow beyond our reach. Like that proposed solar farm in Montana... Great idea, but the people who wanted to build it were going to just use all the power to cryptomine. Just pissing it away basically, for the benefit of the capitalists (literally capital owners).

How farking dumb are we as a species?

Powering bitcoin mining and powering cities using renewables are entirely different problems.

With a bitcoin mining op you can modify load to match production instantly and at any time.  When you are powering a city, it is the opposite, you have to constantly modify production to meet load demand.    One of those is much easier to pull off than the other and most of the cost of running a grid is all the load balancing you have to do.

/Crypto-mining is still a pointless waste of electricity.


with Proof of Stake, it'll use less than 0.5% of the electricity that Proof of Work uses.

And yet still a pointless waste of electricity given that it still uses orders of magnitude more than any other kind of database transaction.


A blockchain node will use abt as much electricity as an email server, another pointless waste of electricity.
 
2021-07-22 2:42:05 PM  

Linux_Yes: Beta Tested: Linux_Yes: Beta Tested: adamatari: What's depressing is that they can find dams and build solar plants to mine Bitcoin but to making solar plants and energy storage to power cities or even just individual houses is somehow beyond our reach. Like that proposed solar farm in Montana... Great idea, but the people who wanted to build it were going to just use all the power to cryptomine. Just pissing it away basically, for the benefit of the capitalists (literally capital owners).

How farking dumb are we as a species?

Powering bitcoin mining and powering cities using renewables are entirely different problems.

With a bitcoin mining op you can modify load to match production instantly and at any time.  When you are powering a city, it is the opposite, you have to constantly modify production to meet load demand.    One of those is much easier to pull off than the other and most of the cost of running a grid is all the load balancing you have to do.

/Crypto-mining is still a pointless waste of electricity.


with Proof of Stake, it'll use less than 0.5% of the electricity that Proof of Work uses.

And yet still a pointless waste of electricity given that it still uses orders of magnitude more than any other kind of database transaction.

A blockchain node will use abt as much electricity as an email server, another pointless waste of electricity.


And yet still orders of magnitude more per transaction.  Who cares how much electricity a node uses, that just means 2 similar computers use about the same electricity (big surprise).  The point is how much it can do with it.  Any other kind of database buries a blockchain's (lack of) efficiency.
 
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