Proof of work is destined to fail

[Anonymous No.29965736]

The energy usage needed to keep the system running, makes it near impossible for any meaningful adoption.
The entire mining industry surrounding bitcoin is insane and it is unnecessary.

Bitcoin will fail, drag the whole cryptomarket into a winter, the only ones that will come out of that winter is non-PoW coins.

[Anonymous No.29965756]

>>29965736
i think you're right but theres no reason not to mine certain coins before the fall of eth

[Anonymous No.29965787]

>>29965736
Now post visa and master card.

[Anonymous No.29965822]

Doesn't even use that much energy relative to lots of other things

[Anonymous No.29965830]

>>29965736
>The energy usage needed to keep the system running, makes it near impossible for any meaningful adoption.
my mining rigs use less electricity than my electric heater and increases the room temperature faster too

[Anonymous No.29965841]

Why do spineless leftists never confront China or India over their emissions and instead attack their own countrymen

[Anonymous No.29965878]

This is the only fud about BTC that does actually get to me... Isn't the mass electricity usage necessarily a cap on BTC preventing anything resembling BTC maxis "mass adoption"?

[Anonymous No.29965902]

>>29965756
like you probably have around a year or two to mine still before the NWO good guy government starts imposing carbon taxes on mining. the fall of eth for other reasons will see two or three coins moon and you could have a fat bag for free when they do

[Anonymous No.29965931]

>>29965736
Go away bobo. Bitcoin energy use is 77% renewable energy and most of it is surplus that would have been wasted anyway.

[Anonymous No.29965934]

Bitcoin is much more important than Switzerland or Czechia

[Anonymous No.29965965]

>>29965736
Its not about consumption but efficiency.
And what he says >>29965822

[Anonymous No.29965996]

>>29965931
>77% renewable energy
You are delusional.

[Anonymous No.29966019]

According to CBECI, Bitcoin mining alone consumes an estimated median average of 121.36 TWh (Terawatts per Hour) of electricity every year. By comparison, United Arab Emirates consumes 113.2 TWh across all uses of electricity, Argentina 121 TWh, and Norway (at 29 in the global league of consumers) 122.2 TWh

[Anonymous No.29966032]

Just wait until companies come out and vow to mine bit coin with clean energy. Ewt will go parabolic

[Anonymous No.29966048]

>>29966032
Link global technology

[Anonymous No.29966067]

you are really fucking stupid if you think btc and eth have a long term future

[Anonymous No.29966069]

>>29965822
but it will, if it gains adoption - hence the "meaningful adoption".
So far Bitcoin is a store of value, and use more electricity than every business and household in Switzerland.

Unless there is a breakthrough in how we generate electricity (fission reactor, or another "free electricity" thing), you can't use the network for any kind of transaction - at scale.

[Anonymous No.29966081]

>>29965736
The United States uses 25,000 Kwh a year and you’re worried about 58 Kwh? Dumb liberal can’t into numbers.

[Anonymous No.29966086]

>>29965736
what is solar energy?

[Anonymous No.29966119]

>>29965830
Based if true

[Anonymous No.29966166]

>>29966086
You are retarded if you really believe that.

[Anonymous No.29966170]

>>29966081
Twh**

[Anonymous No.29966214]

>>29965996

[Anonymous No.29966290]

>>29965996
bitcoin mining isn’t distributed proportionally to energy production, weak fud

[Alex No.29966323]

in order not to worry about anything, anon, you need not keep doggy coins, but GSX. you get for the whole balance and sit looking at the growing revenue - gl hf

[Anonymous No.29966436]

Is this the new tether fud ?

[Anonymous No.29966452]

>>29966081
It uses 58 TWh to be "digital gold", imagine the energy consumption it would use if it ever gets beyond that.

..and my point about it being "unnecessary", you can have and there is, blockchains that doesn't use proof of work.

[Anonymous No.29966503]

>>29966452
gold uses more electricity than bitcoin

[Anonymous No.29966584]

Just use RENEWABLE ENERGY
>no emission
>free energy
>no pollution

Or are you suddenly going to claim green energy ain't green?!?!11

[Anonymous No.29966611]

>>29966503
in the marvel universe? i don't know enough about that, but i know that in our world gold doesn't use more electricity than bitcoin.

[Anonymous No.29966639]

>>29966214
>>29966290
https://www.finextra.com/newsarticle/36672/renewable-energy-not-as-prominent-in-cryptocurrency-mining-as-previously-claimed

[Anonymous No.29966650]

fuck you gay nigger and your solar panels
globohomo warming is not real and a weak FUD anyone with half a brain knows this

[Anonymous No.29966724]

>>29966436
yes there's a concern-trolling environmentalist thread up 24/7

[Anonymous No.29966759]

And that's exactly why we need AOCs Green New Deal.

Checkmate, atheists

[Anonymous No.29966773]

>>29965934
Im from czechia

[Anonymous No.29966884]

>>29966452
Proof of work is the only way to maintain a truly decentralized system. Your shitty alternative blockchains are all based on nodes or other centralized solutions which make them vulnerable.

[Anonymous No.29966887]

electricity fud always makes me wanna turn on my miner

[Anonymous No.29966891]

>>29966584
Renewables are in short supply. Most energy is fossil-fuel.
>>29966724
> concern-trolling
If you did some research you'd shit brix about where we are going. Anthropogenic climate change is a great filter.

[Anonymous No.29966949]

>>29966639
Even if that fud is correct. 39% renewables is still a significant amount and it will likely increase over time to keep costs down. Not to mention that bitcoin's relative power consumption is actually quite small.

[Anonymous No.29967017]

>>29966887
>me invested in power, infrastructure and battery tech stocks
Do it faggot !

[Anonymous No.29967157]

>>29966949
Look thats not my point here :D
I couldnt give less of a fuck which crypto makes the race.
>>29967017

[Anonymous No.29967180]

>>29965787

Visa is 185 billion transactions per year at about 1 Wh/transaction. So about 185GWh, or 0.185 TWh (BTC at 58.9 TWh). Less than 0.5% of BTC.
Don't know about MC though

[Anonymous No.29967183]

>>29966891
>If you did some research you'd shit brix about where we are going. Anthropogenic climate change is a great filter.
dont care. there's bigger problems than bitcoin. perhaps if we weren't permanently hamstrung by a malicious ruling class coercing us with fake money we'd have more leverage to fix the world and the environment.

[Anonymous No.29967348]

>>29967183
I agree with this. But calling it "concern-trolling" is literally ignorant. Actually, not caring is as well. Just don't pretend this isn't going to affect you.

[Anonymous No.29967351]

>>29966119
>Based if true
the electric heating element is inside the floor, the rig is heating the air directly

[Anonymous No.29967371]

>>29967183
yep, not gonna make it, but you have to admire a guy willing to take a stand and then get mowed down by an unbeatable force

[Anonymous No.29967436]

>>29966949
Table says BTC mining... 3.6 million GJ. That's 1 TWh only, while OP says 60...

Nice attempt to reduce numbers by orders of magnitude...

[Anonymous No.29967492]

global warming doesn't exist

[Anonymous No.29967497]

>>29966611
Yes it does you brainlet

[Anonymous No.29967528]

>>29967183
what was the name of that monk who started himself on fire to protest something that no one remembers or cares about?

[Anonymous No.29967584]

>>29965736
Just fucking kill yourself you tree hugging faggot. Bitcoin is energy arbitrage. “Renewables” are garbage and don’t work. The way forward is nuclear fission, with fusion to come within 100 years. Global warming and climate change are false doomer predictions based on unreliable computer models. Now put your mask back on and get in the cage you utter NPC Faggot.

[Anonymous No.29967611]

>>29967528
> Thích Quảng Đức
And he is well remembered. Just not by you.

[Anonymous No.29967725]

>>29967584
And here, gentlemen, we have a classic example of a hit dog barking.
> nuclear fission
> 100 years
I remember it was 50 for viable fission reactors for the past 60 years. Now it's 100?

[Anonymous No.29967859]

>>29966611
in absolute numbers yes
gold is more efficient at this time though

crypto should fix its energy problem but the way people talk about it is clear FUD
datacenters, gold, ... use more electricity at this time

the problem would arise if BTC is adopted seriously, then you might have issues

i don't see why that *has* to be a problem though, i don't see why third party services can't bundle transactions and provide a secondary layer you trust such that less transactions occur and fees are lower

[Anonymous No.29967906]

>>29965878
Electricity is an artificial cap on everybody because of environmental austerity in the west.

We havent mastered fission, we use only 10% of fissile material... Thorium when?

Basically We are forced to use dial up, to keep electric costs high.

[Anonymous No.29967940]

>>29967725
>the Jew cries out in pain as he strikes you
We have had viable fission reactors dipshit. Greater than 2/3 of France’s energy consumption comes from nuclear fission. Fusion is harder but we are getting closer. Maybe if we stopped investing in shitty batteries and solar panels, we could get somewhere.

[Anonymous No.29967955]

> nuclear fission
>thorium reactors
>no peak clown world
holy shit - you cant make this stuff up

[Anonymous No.29968064]

>>29965736
What happens when every bitcoin is mined? How does transaction get verified then?

[Anonymous No.29968071]

Is there any studies on the energy cost of mining, storing and transportation of precious metals? Or how much energy is consumed by central banks to run and cool all the servers they use for banking information and transactions. I’d love an idea of how they compare

[Anonymous No.29968210]

There are reasons why bitcoin won't be a worldwide currency, but this sure as shit ain't one of them.

[Anonymous No.29968225]

>>29967955
It’s obvious you’re not an engineer or scientist. Go sip some tea and read a vox article with your liberal arts friends.

[Anonymous No.29968299]

>>29967940
>DUDE JUST USE FISSION REACTORS TO POWER MY WASTEFUL, SLOW, SOON TO BE REPLACED CRYPTO 1.0 COIN

[Anonymous No.29968359]

>>29967940
>>29967955
I humbly excuse myself for my confusion of basic terminology. Now, since we have cleared that up, my take on fission is that it is not viable because of non-internalized cost. In my country, we don't have space to store waste products without people living nearby. If you can give me a viable course of action to deal with nuclear waste I'm all in.
> fusion
What I wanted to say.

[Anonymous No.29968460]

no no, you see, because bitcoin is extremely slow and expensive to run, and you can sometimes buy giftcards with it, that actually makes it an incredible, uh, store of value

[Anonymous No.29968471]

>>29968299
>no you can’t use zero carbon emission technology to create energy
>instead use shitty batteries and photovoltaics made in China.
t. Al Gore

[Anonymous No.29968472]

>>29965736
nigger

[Anonymous No.29968547]

>>29968225
Sorry but i am too busy right now helping the chinese prepping up hualong one while you are sitting in front of your monitor with your ass between your ears.

[Anonymous No.29968550]

>>29967528
Thick Wang Duck

[Anonymous No.29968633]

So just use nuclear energy. What is the problem?

[Anonymous No.29968632]

>>29968359
Storing waste products is relatively easy. Build a giant football sized concrete hole in the ground. Maybe 2-5 stories deep. Ship nuclear waste in barrels via trucks or rail car. Put the barrels inside. And you’re done.

[Anonymous No.29968690]

when do you predict BTC will flip bros? I was planning to hold for 10 years legit, do you think it's retarded? this kinda scares me, if the shit crumbles under its weight that will be a bag that this boy won't be able to hold.

[Anonymous No.29968851]

>>29968632
> relatively easy
Yeah, well, sorry to inform you that this is not the case if you want it to be safe for a longer period of time.
Maybe you are a burger and you have giant deserts or unpopulated areas where you could pull off that shit, but this won't fly in central Europe and rightly so.

[Anonymous No.29968977]

>>29968460
did you miss the part where they say it can't be printed?
this is what store of value refers to

[Anonymous No.29968978]

>>29968633
People in the west are the problem.

[Anonymous No.29969356]

>>29968978
Waste and storage and internalizing costs. Pretty simple, actually.
If you take all our waste, whereever you live, we would certainly send you a card for your efforts.

[Anonymous No.29969762]

>>29969356
You must be yuropoor, i heard your grid is not so stable anymore.

[Anonymous No.29969905]

>>29969762
you heard wrong

[Anonymous No.29970275]

>>29966503
>oh yah? Well what about gold?!!!!
I know this is probably bait, but no matter the criticism of bitcoin, you can be sure some delusional coinfag will resort to this.

[Anonymous No.29970624]

Technology will get better with time, as it already happening with ARM processors. More energy efficient.

[Anonymous No.29971312]

>>29965736
It costs more money to mine gold than to mine bitcoin. Shut the fuck up and kill yourself.

[Anonymous No.29971539]

>>29965934
Tru dat