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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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25634350 No.25634350 [Reply] [Original]

>Three years ago I wrote "Happy 10th Birthday, Bitcoin. Now Go Away Before You Fry Us All," saying "let's hope it doesn't make it to its bar mitzvah." Well here we are, Bitcoin is 13 years old, that happy bar mitzvah age. And my how it's grown, as has the energy consumption that the cryptocurrency requires; according to Digiconomist, to an estimated 77.78 terawatt-hours per year (about the same as the entire nation of Chile) and pumping out 36.5 megatonnes of CO2 (about as much as New Zealand). The Cambridge Bitcoin Electricity Consumption index says consumption is even higher, at 106.92 terawatt-hours (TWh), but doesn't calculate the carbon footprint, which is a function of how the power is generated. The electrical use is a feature, not a bug, as explained by Alex Hern in the Guardian:

>> No.25635387

cuck

>> No.25635411

>>25634350
If the world economy ran on BTC, that would be a very small price to pay in return for the savings. Its just that nobody bothers to accumulate all the environmental damage of traditional banks. I bet they use about as much Energy as the entirety of the US does

>> No.25635523
File: 7 KB, 250x241, pepe unimpressed.jpg [View same] [iqdb] [saucenao] [google]
25635523

>>25635411
This. Everybody knows the current economic system just does wonders for the environment

>> No.25635585

>>25634350
>let's print money which uses resources and has a footprint and it's heavy too so let's move it in truck and let's make the trucks bulletproof and heavy also so they're inefficient as fuck and let's do they same thing for coinage x10 also banking technologies like swift and fedwire use zero resources and overall this is better than the alternatives

>> No.25635608

How much CO2 does building banks, operating banks and housing bankers create?

>> No.25635876

gold also needs to be mined with heavy machinery, sent to refineries in trucks, refined in factories, sent once again forward for distribution using trucks, planes or ships, and finally stored in a safe building. That's a fat footprint if any.

>> No.25636038
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25636038

T̵h̵e̷y̶ ̵a̴r̵e̶ ̵m̶a̷k̴i̴n̵g̸ ̵g̷a̸i̸n̸s̵.̶ ̸T̶h̴i̴s̷ ̷i̵s̵ ̶u̴n̶a̴c̷c̷e̴p̴t̴a̴b̴l̵e̵.̴ ̴
̸L̸o̴a̵d̶ ̶t̴h̷e̶ ̴c̶l̴i̵m̸a̸t̸e̶ ̶c̸h̸a̵n̶g̶e̴ ̷F̶U̶D̸ ̶a̴n̵d̶ ̴p̸a̶i̶n̵t̷ ̵a̷ ̸b̸e̸a̴r̸ ̴f̵l̵a̴g̴.̸ ̸
̵I̸ ̵w̶i̷l̵l̶ ̷n̶o̴t̶ ̷s̴t̷a̵n̷d̷ ̸f̵o̸r̶ ̴a̸n̷y̷ ̴f̶u̶r̷t̴h̷e̵r̴ ̵m̴i̴s̷t̷a̴k̷e̵s̷.̶ ̷

>> No.25636084

>>25634350
Weak FUD.

There are better arguments to bring down Bitcoin.
>ponzi
>chinese controlled
>tax evasion

>> No.25636128

>>25636084
all those are really really weak

>> No.25636165

>>25635411
this. these same faggots complain about the US defense budget and refuse to understand the whole point of bitcoin is literally to avoid state compulsion by force and the inevitable escalation of military strength that results

>> No.25636228
File: 809 KB, 2048x1431, Kernkraftwerk_Grafenrheinfeld_-_2013.jpg [View same] [iqdb] [saucenao] [google]
25636228

>>25634350
I have an idea that would solve this problem.

>> No.25636233
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25636233

>>25634350
>"let's hope it doesn't make it to its bar mitzvah."

>> No.25636254

>>25634350
Wtf ban this shit and just buy stocks

>> No.25636331

>>25634350
>fact checked
How did two words end up triggering me so much today?

>> No.25636379

>>25634350
MAZEL TOV BITCOIN>>25634350
MAZEL TOV BITCOIN>>25634350
MAZEL TOV BITCOIN>>25634350
MAZEL TOV BITCOIN>>25634350
MAZEL TOV BITCOIN

>> No.25636383

>>25635411
banks produce almost no co2, their services run on 1/1000000th the computing power

>> No.25636420

>>25636383
they handle way more transactions with way more capital than bitcoin so someones lying.

>> No.25636624

>>25636420
they dont have to compete to hash the block and get rewards

>> No.25636654

>>25634350
Article Author is a gay Jewish cuck

>> No.25636703

>>25636383
banks are the best

>> No.25637139

>>25636038
Kek. My friend looks just like that bog, he is the biggest chad I know

>> No.25637253

>>25634350
>The Guardian
The same fucking outfit whining about CO2 emissions that made 600m GBP from selling its stake in auto trader magazine
https://www.motortrader.com/press-releases/guardina-sells-stake-auto-trader-22-01-2014

Get fucked. I'm going to buy extra BTC just to trigger them and their onions infested readers

>> No.25637265

>>25636420
dear lord you are stupid
banks don’t mine blocks, they just process transactions which takes no computing power
bitcoin is the least efficient payment system in human history