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Topic: Bitcoin & PoW is a waste of energy & destroys nature - page 6. (Read 14008 times)

legendary
Activity: 2142
Merit: 1010
Newbie
Bitcoin's not a waste of energy at all. Think about it. How much power do you think every single bank facility and banking-related office building in the world uses up each day?

I'd wager if you were to see a direct comparison between the total daily power consumption of Bitcoin's PoW and the average daily power consumption of, say, Goldman Sachs... you would then find the statement "Bitcoin's PoW is a waste of energy" completely laughable.

Argument that if one shit requires a lot of electricity then Bitcoin is not a waste of energy is quite... illogical.
legendary
Activity: 2142
Merit: 1010
Newbie
Do you keep all the crap that your take away food has been served in?

No of coz, but I don't throw it away. It's recycled.

PS: I didn't read the rest, too many letters.
hero member
Activity: 1582
Merit: 502
hero member
Activity: 504
Merit: 500
eidoo wallet
member
Activity: 110
Merit: 10
Bitcoin's not a waste of energy at all. Think about it. How much power do you think every single bank facility and banking-related office building in the world uses up each day?

I'd wager if you were to see a direct comparison between the total daily power consumption of Bitcoin's PoW and the average daily power consumption of, say, Goldman Sachs... you would then find the statement "Bitcoin's PoW is a waste of energy" completely laughable.
hero member
Activity: 1582
Merit: 502
The plastic food container is going to be dumped in the trash and it won't biodegrade for MANY years.
A Bitcoin is created only ONCE and used forever.

So, your argument is invalid.
Sorry!

Hahahahaha. Look people, he throws away plastic food containers! Now I see where u r from and why u don't care about ecology. Btw, I didn't know that African aborigines have Internet connection...

OH wise and funny hero member.

Do you keep all the crap that your take away food has been served in?
And if you do, do you actually have real dishes in your house, or did that technology not come to your village yet?

BTW I am a CYPRIOT aboriginal and guess what?
We have the worlds first Bitcoin bank and many retail stores that you can use your bitcoins directly to buy stuff.

No shit, check it out:
http://www.coindesk.com/bank-like-bitcoin-portal-neo-opens-first-branch-cyprus/
http://www.neo-bee.com/en/

So tell me Oh wise and much funny hero member,
First,
Do you have internet connection?
If you do please visit Bitcoin.org and do some research.
Once you do that then you can come here and post shit about Bitcoin.

Second,
Where do you live?
I live in a "shitty" island yet I have far more technology available here then where you are located (I am guessing).

Third:
How is your plan going?
Did you manage to get any "cheap" coins?

PS: I was about to go to bed and hit the ignore button for once since I joined here.
But, I would really love to take you on, on this Smiley

OH WISE AND FUNNY HERO MEMBER.

PS 2: You should know that there are many African aboriginals that make more money than you using the internet.
And yes they have internet!!!!!

And who would have guess that a little "shit-hole" like Cyprus would go where others didn't.



legendary
Activity: 2142
Merit: 1010
Newbie
The plastic food container is going to be dumped in the trash and it won't biodegrade for MANY years.
A Bitcoin is created only ONCE and used forever.

So, your argument is invalid.
Sorry!

Hahahahaha. Look people, he throws away plastic food containers! Now I see where u r from and why u don't care about ecology. Btw, I didn't know that African aborigines have Internet connection...
hero member
Activity: 1582
Merit: 502
Anything that has an electric plug and consumes electricity is bad for the environment.

That being said, what makes Bitcoin mining more harmful than let's say plastic products production?

Plastic product production becomes more and more efficient each year (numberOfItems/kWh ratio). Bitcoin production becomes less and less efficient each year (numberOfCoins/kWh ratio).

Right, so creating let's say a plastic food container, the ones you get at take ways and junk food places is more efficient than generating a Bitcoin, HOWEVER, how is it more environmentally friendly?

The plastic food container is going to be dumped in the trash and it won't biodegrade for MANY years.
A Bitcoin is created only ONCE and used forever.

So, your argument is invalid.
Sorry!

EDIT: Let's not forget about all the crap that come out of the chimneys of all these plastic product manufacturers.
Seriously, your argument is VERY invalid.




legendary
Activity: 1260
Merit: 1001
Bitcoin according to some estimates uses up to 130,000 megawatt hours a day, and that is only going to grow.

This is why Gridcoin came into existence. To divert a portion of the mining power towards science projects!

Article: http://crypt.la/2014/02/23/exclusive-gridcoin-founder-talks-revolution-in-mining/

legendary
Activity: 2142
Merit: 1010
Newbie
Energy spent on BitCoin is a fraction of the energy spent on fiat currencies.

Aye, that's why we shouldn't search for more eco-friendly solutions.
/sarcasm
newbie
Activity: 12
Merit: 0
Energy spent on BitCoin is a fraction of the energy spent on fiat currencies.
legendary
Activity: 1372
Merit: 1000
Anything that has an electric plug and consumes electricity is bad for the environment.

That being said, what makes Bitcoin mining more harmful than let's say plastic products production?

Plastic product production becomes more and more efficient each year (numberOfItems/kWh ratio). Bitcoin production becomes less and less efficient each year (numberOfCoins/kWh ratio).

The situation is dynamic not a an equal comparison, as plastic gets cheaper we also become more efficient at consulting it and the value drops  so we consume more. Plastic is now so cheep we make single use Tupperware type containers with no economic impact to the consumer, where 35 years ago a Tupperware set cost 31% of you're monthly salary.

When Bitcoin drops to around 3 Bitcoin per block the network will only see growth as price increase exponentially.
legendary
Activity: 2142
Merit: 1010
Newbie
PoS networks can be launched at will without any barrier to entry so PoS coins are in unlimited quantities, therefore worthless.

PoW mining geographic distribution can be  fractionally seasonal so its actually reducing energy consumption for heating, to some extend.

Also PoW coins can be premined in unlimited quantities, therefore worthless.
hero member
Activity: 490
Merit: 504
all PoW miners will be centralized in Iceland, in big houses...
legendary
Activity: 1221
Merit: 1025
e-ducat.fr
Let's not forget about all trojan hijacked PC's where their CPUs/GPUs are used to mine bitcoin. That would not be possible with PoS.
PoS networks can be launched at will without any barrier to entry so PoS coins are in unlimited quantities, therefore worthless.

PoW mining geographic distribution can be  fractionally seasonal so its actually reducing energy consumption for heating, to some extend.
newbie
Activity: 42
Merit: 0
hey i figured out the secret.  PoW and PoS are *EXACTLY* the same.  in fact they both use cgminer.
so drown on all you want.  they are EXACTLY THE SAME>  in SHAPE AND FORM.

Look into NXT a little more I think you are confusing PoS with script.

what's the difference?  u have the same amount of power (lets say 100 GH/s).  and you point 50 towards a PoS coin.  and 50 towards a PoW.  what makes the PoS coin worth more
legendary
Activity: 2142
Merit: 1010
Newbie
Anything that has an electric plug and consumes electricity is bad for the environment.

That being said, what makes Bitcoin mining more harmful than let's say plastic products production?

Plastic product production becomes more and more efficient each year (numberOfItems/kWh ratio). Bitcoin production becomes less and less efficient each year (numberOfCoins/kWh ratio).
hero member
Activity: 1582
Merit: 502
Anything that has an electric plug and consumes electricity is bad for the environment.

That being said, what makes Bitcoin mining more harmful than let's say plastic products production?



legendary
Activity: 4424
Merit: 4794
it has been calculated that las vegas, with all its bright lights and stuff uses more electricity then bitcoin.... and all they trade is plastic tokens that can be replicated.

it has been calculated that new york financial district uses more electric then bitcoin... and all they trade is paper IOU's that can be reprinted.

... need i say anymore?
legendary
Activity: 1372
Merit: 1000
hey i figured out the secret.  PoW and PoS are *EXACTLY* the same.  in fact they both use cgminer.
so drown on all you want.  they are EXACTLY THE SAME>  in SHAPE AND FORM.

Look into NXT a little more I think you are confusing PoS with script.
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