/biz/ - Business & Finance

>33yo
>unemployed
>fap to my sister every day

you can smell the panic amongst the poltards here

"How Bitcoin's vast energy use could burst its bubble"

https://www.bbc.com/news/science-environment-56215787

> The CCAF team surveys the people who manage the Bitcoin network around the world on their energy use and found that about two-thirds of it is from fossil fuels.

> "They want to get that revenue," she tells me, "and that's what's going to encourage them to introduce more and more powerful machines in order to guess this random number, and therefore you will see an increase in energy consumption," she says.

> And this vast computational effort is the cryptocurrency's Achilles heel, says Alex de Vries, the founder of the Digiconomist website and an expert on Bitcoin.

> All the millions of trillions of calculations it takes to keep the system running aren't really doing any useful work.

> "They're computations that serve no other purpose," says de Vries, "they're just immediately discarded again. Right now we're using a whole lot of energy to produce those calculations, but also the majority of that is sourced from fossil energy."

> "If Bitcoin were to be adopted as a global reserve currency," he speculates, "the Bitcoin price will probably be in the millions, and those miners will have more money than the entire [US] Federal budget to spend on electricity."

> "We'd have to double our global energy production," he says with a laugh. "For Bitcoin."

Expect this type of rhetoric to ramp up amongst the mainstream this year, and for legislation to eventually follow...

>>25860225
how much she make on those old koins?

probably should've bought them off her

>>24287844
I mean.... He doesn't know he's in a war with China for the financial tech hegemony?

>>24014390
What I said isn't defeatist. This was not the final vote. I was stating fact.

>>23568984
I'll hold no matter what, even if it's one, two, hell, even three years, I can wait. Why the rush? If it really goes to 100 or 10k, who the hell cares for waiting? For a lifetime of riches, I can wait.

>>14529446
There are simple quizzes for each video, it's not hard but it's worth paying attention. When LINK moons hard the knowledge may come in handy.