Cryptocurrency: Another Study Fails to Account For *All* Energy Used By Entire Fiat Banking and Govt, Banks Dying

grarpamp grarpamp at gmail.com
Tue Oct 8 09:27:15 PDT 2019


https://www.sciencedirect.com/science/article/pii/S2214629619302701

Cryptocurrency mining uses significant amounts of energy as part of
the proof-of-work time-stamping scheme to add new blocks to the chain.
Expanding upon previously calculated energy use patterns for mining
four prominent cryptocurrencies (Bitcoin, Ethereum, Litecoin, and
Monero), we estimate the per coin economic damages of air pollution
emissions and associated human mortality and climate impacts of mining
these cryptocurrencies in the US and China. Results indicate that in
2018, each $1 of Bitcoin value created was responsible for $0.49 in
health and climate damages in the US and $0.37 in China. The similar
value in China relative to the US occurs despite the extremely large
disparity between the value of a statistical life estimate for the US
relative to that of China. Further, with each cryptocurrency, the
rising electricity requirements to produce a single coin can lead to
an almost inevitable cliff of negative net social benefits, absent
perpetual price increases. For example, in December 2018, our results
illustrate a case (for Bitcoin) where the health and climate change
"cryptodamages" roughly match each $1 of coin value created. We close
with discussion of policy implications.

Government creates nothing.
Then for each $1 thrown into it, you get less than $0.51 in undamaged
purity out.
Then its Fiat and Self burns GigaWatts for itself, murder, spying,
your enslavement.


https://gizmodo.com/goliath-is-winning-the-biggest-u-s-banks-are-set-to-a-1838740347
https://www.bloomberg.com/news/articles/2019-10-02/robots-to-cut-200-000-u-s-bank-jobs-in-next-decade-study-says
https://www.ft.com/content/baf3297a-e456-11e9-9743-db5a370481bc

Banks writing on wall.
Speed their anti-human misery by adopting and using cryptocurrency today.


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