Explanation
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5005. (Read 26608412 times)
August 01, 2021, 05:01:26 PM
August 01, 2021, 04:48:39 PM
~Snipped
Yet, it's only the energy that is used for mining bitcoins that is being seen as a bad thing not just to Elon Musk but to non-bitcoin enthusiasts. It's ironic to think people talk about Bitcoin energy consumption all the time when manufacturing industries have been consuming countless energies and even polluting the planet while at it and no one seems to be doing anything other than fud Bitcoin. Most of these wasted energy would go a long way if used for bitcoin mining operations but not everyone would agree.
Btw, this is the first time I'm hearing about Darvaza and I've read about it plus watching a video too. Fascinating stuff!
August 01, 2021, 04:45:35 PM
Theres wasted energy like that all over the world, we're talking about efficiency and somehow in an ironic way BTC can help with that because it uses electricity locally and doesnt require the problems of high voltage wiring infrastructure which costs millions to assemble separately. Giant amounts of thermal energy in Iceland, Japanese islands probably the whole ring of fire area has that possibility in remote places and many other instances. I know Iceland uses energy up with aluminum smelting and recycling which is efficient to do but I imagine BTC is far more easily deployed and flexible.
https://www.smithsonianmag.com/travel/giant-hole-ground-has-been-fire-more-40-years-180951247/
https://www.smithsonianmag.com/travel/giant-hole-ground-has-been-fire-more-40-years-180951247/
Quote
Unlike oil, which can be stored in tanks indefinitely after drilling, natural gas needs to be immediately processed—if there's an excess of natural gas that can't be piped to a processing facility, drillers often burn the natural gas to get rid of it. It's a process called "flaring," and it wastes almost a million dollars of worth of natural gas each day in North Dakota alone.
... precisely. I can envisage bitcoin mining of stranded energy resources becoming something of 'gold' rush prospecting for stranded energy resources around the whole planet as the on-going energy is almost zero cost after infrastructure set-up. If the infrastructure is nimble, modular and portable they can develop out a resource and then it may happen that the resource then attracts other developments, towns, other energy intensive industries, e.g. aluminium or hydrogen production. At which point bitcoin mining may have to move on to the next cheapest resource location, i.e. bitcoin prospectors ... much like how gold prospectors opened up many areas of the planet to civilisation.
August 01, 2021, 04:31:13 PM
Theres wasted energy like that all over the world, we're talking about efficiency and somehow in an ironic way BTC can help with that because it uses electricity locally and doesnt require the problems of high voltage wiring infrastructure which costs millions to assemble separately. Giant amounts of thermal energy in Iceland, Japanese islands probably the whole ring of fire area has that possibility in remote places and many other instances. I know Iceland uses energy up with aluminum smelting and recycling which is efficient to do but I imagine BTC is far more easily deployed and flexible.
https://www.smithsonianmag.com/travel/giant-hole-ground-has-been-fire-more-40-years-180951247/
https://www.smithsonianmag.com/travel/giant-hole-ground-has-been-fire-more-40-years-180951247/
Quote
Unlike oil, which can be stored in tanks indefinitely after drilling, natural gas needs to be immediately processed—if there's an excess of natural gas that can't be piped to a processing facility, drillers often burn the natural gas to get rid of it. It's a process called "flaring," and it wastes almost a million dollars of worth of natural gas each day in North Dakota alone.
August 01, 2021, 04:24:21 PM
Good day Bitcoinland.
Four one one five eight dollars
(Bitcoinaverage).
I missed this morning
Was at the SkyDome today.
Blue Jays swept Royals.
Shutout from new guy
A good satisfying win.
Love the Bitcoin life.
Four one one five eight dollars
(Bitcoinaverage).
I missed this morning
Was at the SkyDome today.
Blue Jays swept Royals.
Shutout from new guy
A good satisfying win.
Love the Bitcoin life.
August 01, 2021, 04:17:41 PM
Nice! At least all that flare gas burning isn't for nothing. Does this mean Bitcoin becomes the new petro-dollar?
That would be interesting. Stick a bunch of gas powered generators on top and mine with the generated power.
If generating electricity this way is profitable for mining, it stands to reason that it would be even more profitable to use the generated electricity for pretty much anything else. Mining is barely profitable even with cheapest power and requires huge investments and complicated maintenance.
... except you've missed the whole point of the exercise, that flare gas is in many situations a stranded energy source, i.e. it doesnt' have large, expensive electricity lines nearby to pipe the generated power out with ... whereas bitcoin only needs an internet connection, perhaps only a satellite connection is adequate
August 01, 2021, 04:02:41 PM
Nice! At least all that flare gas burning isn't for nothing. Does this mean Bitcoin becomes the new petro-dollar?
That would be interesting. Stick a bunch of gas powered generators on top and mine with the generated power.
If generating electricity this way is profitable for mining, it stands to reason that it would be even more profitable to use the generated electricity for pretty much anything else. Mining is barely profitable even with cheapest power and requires huge investments and complicated maintenance.
August 01, 2021, 04:01:34 PM
August 01, 2021, 03:57:38 PM
If we presume we're going to reproduce 2013 graph then we're missing just one orange dot. But this dot will shoot us up ~10x from here(to something like $400k? I could live with that... 
Are you trying to seduce me?
Ok ok sorry forgot to add #nohomo...
August 01, 2021, 03:40:14 PM
Off topic
This is mind blowing and amazing zoom out of the sharpest view of the Andromeda Galaxy ever, showing more than 100 million stars. Imagine if there is a only 0.00000001% chance of life that means there must be at least 100 civilizations in andromeda galaxy. I wonder what currency would they be using?
https://twitter.com/WorldAndScience/status/1421113398650150912
This is mind blowing and amazing zoom out of the sharpest view of the Andromeda Galaxy ever, showing more than 100 million stars. Imagine if there is a only 0.00000001% chance of life that means there must be at least 100 civilizations in andromeda galaxy. I wonder what currency would they be using?
https://twitter.com/WorldAndScience/status/1421113398650150912
It's an older galaxy than ours so in all likelihood, any inhabitants with the ability to convert energy to money have likely already succumbed to universal warming.
---------
Nice! At least all that flare gas burning isn't for nothing. Does this mean Bitcoin becomes the new petro-dollar?
That would be interesting. Stick a bunch of gas powered generators on top and mine with the generated power.
there are a few companies out there doing it..here is one of them..it would be great of this sort of technology was used world wide
https://www.crusoeenergy.com/digital-flare-mitigation
August 01, 2021, 03:39:06 PM
If we presume we're going to reproduce 2013 graph then we're missing just one orange dot. But this dot will shoot us up ~10x from here(to something like $400k? I could live with that...
Are you trying to seduce me?
August 01, 2021, 03:34:32 PM
Plan B
@100trillionUSD
#bitcoin realized cap is rising again! Realized cap is the average price at which all 18.77M BTC were last transacted (calculated over all utxo's). Also, the few sellers at the moment sell at a profit (not a loss like in May and June). IMO this is bullish.
https://twitter.com/100trillionusd/status/1421919714624872451?s=21
@100trillionUSD
#bitcoin realized cap is rising again! Realized cap is the average price at which all 18.77M BTC were last transacted (calculated over all utxo's). Also, the few sellers at the moment sell at a profit (not a loss like in May and June). IMO this is bullish.
https://twitter.com/100trillionusd/status/1421919714624872451?s=21
If we presume we're going to reproduce 2013 graph then we're missing just one orange dot. But this dot will shoot us up ~10x from here(to something like $400k? I could live with that...
August 01, 2021, 03:26:24 PM
Plan B
@100trillionUSD
#bitcoin realized cap is rising again! Realized cap is the average price at which all 18.77M BTC were last transacted (calculated over all utxo's). Also, the few sellers at the moment sell at a profit (not a loss like in May and June). IMO this is bullish.
https://twitter.com/100trillionusd/status/1421919714624872451?s=21
One for our resident Italian Stallion fillippone
American born but Italian guy is the fastest man in the world, well not as fast as fillippone @ getting merits.
@Olympics
LAMONT MARCELL JACOBS IS THE MEN'S 100M CHAMPION WITH A TIME OF 9.80S!
https://twitter.com/olympics/status/1421818291279077376?s=21
@100trillionUSD
#bitcoin realized cap is rising again! Realized cap is the average price at which all 18.77M BTC were last transacted (calculated over all utxo's). Also, the few sellers at the moment sell at a profit (not a loss like in May and June). IMO this is bullish.
https://twitter.com/100trillionusd/status/1421919714624872451?s=21
One for our resident Italian Stallion fillippone
American born but Italian guy is the fastest man in the world, well not as fast as fillippone @ getting merits.
@Olympics
LAMONT MARCELL JACOBS IS THE MEN'S 100M CHAMPION WITH A TIME OF 9.80S!
https://twitter.com/olympics/status/1421818291279077376?s=21
What does that tat say? Recycling Cum? Or Halving Scum?
P.S. And no, filippone is not fast for well... anatomical reasons...
August 01, 2021, 03:01:27 PM
August 01, 2021, 02:46:27 PM
Nice! At least all that flare gas burning isn't for nothing. Does this mean Bitcoin becomes the new petro-dollar?
That would be interesting. Stick a bunch of gas powered generators on top and mine with the generated power.
August 01, 2021, 02:46:16 PM
Plan B
@100trillionUSD
#bitcoin realized cap is rising again! Realized cap is the average price at which all 18.77M BTC were last transacted (calculated over all utxo's). Also, the few sellers at the moment sell at a profit (not a loss like in May and June). IMO this is bullish.
https://twitter.com/100trillionusd/status/1421919714624872451?s=21
One for our resident Italian Stallion fillippone
American born but Italian guy is the fastest man in the world, well not as fast as fillippone @ getting merits.
@Olympics
LAMONT MARCELL JACOBS IS THE MEN'S 100M CHAMPION WITH A TIME OF 9.80S!
https://twitter.com/olympics/status/1421818291279077376?s=21
@100trillionUSD
#bitcoin realized cap is rising again! Realized cap is the average price at which all 18.77M BTC were last transacted (calculated over all utxo's). Also, the few sellers at the moment sell at a profit (not a loss like in May and June). IMO this is bullish.
https://twitter.com/100trillionusd/status/1421919714624872451?s=21
One for our resident Italian Stallion fillippone
American born but Italian guy is the fastest man in the world, well not as fast as fillippone @ getting merits.
@Olympics
LAMONT MARCELL JACOBS IS THE MEN'S 100M CHAMPION WITH A TIME OF 9.80S!
https://twitter.com/olympics/status/1421818291279077376?s=21
August 01, 2021, 02:43:50 PM
W T F is this…
Strange kind Sunday sorcery!
Pump’s the other way.
Strange kind Sunday sorcery!
Pump’s the other way.
Seems to turn around
Some peeps are not done selling
No problem, we'll wait
A matter of time
We won't see these dumps for long
Bulls still in command
August 01, 2021, 02:27:25 PM
Off topic
This is mind blowing and amazing zoom out of the sharpest view of the Andromeda Galaxy ever, showing more than 100 million stars. Imagine if there is a only 0.00000001% chance of life that means there must be at least 100 civilizations in andromeda galaxy. I wonder what currency would they be using?
https://twitter.com/WorldAndScience/status/1421113398650150912
This is mind blowing and amazing zoom out of the sharpest view of the Andromeda Galaxy ever, showing more than 100 million stars. Imagine if there is a only 0.00000001% chance of life that means there must be at least 100 civilizations in andromeda galaxy. I wonder what currency would they be using?
https://twitter.com/WorldAndScience/status/1421113398650150912
There will be more of these, even more spectacular, coming soon, to an interwebz near you.
I love science
August 01, 2021, 02:23:51 PM
W T F is this…
Strange kind Sunday sorcery!
Pump’s the other way.
Strange kind Sunday sorcery!
Pump’s the other way.
August 01, 2021, 02:01:26 PM
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