Re: Bitcoin... Destroying the planet

On 12/13/2017 10:01 PM, John Newman wrote:

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On Dec 7, 2017, at 9:26 PM, juan wrote:

On Thu, 07 Dec 2017 18:10:32 -0800 g2s wrote:

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we are still waiting for you to show that you able to calculate Blah blah... From that ars technical link

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However, we can make some educated guesses. For starters, we know the industry's revenue: Bitcoin miners currently generate 75 bitcoins per hour, which, at the current price of around $12,500 per bitcoin, translates to $937,500 per hour, or more than $8 billion per year.

hey stupid piece of joo shit, you still don't understand the very basics of what you are supposed to calculate? you keep copy pasting irrelevant shit?

you are supposed to give an estimate of energy usage. Watts per hour. Do you even know what that means?

What’s the point in calling Razer a “joo”? He doesn’t call you a beaner. Is he even a practicing Jew? Does it even matter (answer is no)? It’s such a lazy, inarticulate expression, it makes you sound exactly like racist trash.

Oh and yeah I expect a bunch of “muh white knight” bullshit from the cock.li cock and probably others. So original, clever and biting, like all his genius “irreverent nazi” bullshit.

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Moreover, the industry is highly competitive, and electricity is one of its biggest costs. So when the price of bitcoins rises, we can expect miners to spend more and more on electricity until electricity costs are roughly on par with revenues.

This is the methodology the Digiconomist (link... use it scumbag.) website uses to estimate the Bitcoin network's energy consumption. It assumes that the industry will spend 60 percent of its revenue on electricity and then extrapolates from the current bitcoin price and prevailing electricity prices. It finds that the network is consuming energy at an annual rate of 32TWh.

It also assumes that the network takes time to adjust to big price increases like we've seen in recent days. This means that, if Bitcoin stays above $12,000, we can expect this figure to rise further in the coming weeks." Rr

Cock.li is a great service ! It maintains a centralized nazi email blocklist for us ! Just block their domains.