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/biz/ - Business & Finance

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9504294 No.9504294 [Reply] [Original]

Not here yet but this will be a reason for an eventual massive dump

https://ethereumworldnews.com/0-5-of-worlds-electricity-by-years-end-bitcoin-mining-power-consumption-is-insane/

Any excuse to cling onto the control of money they will attack Bitcoin in the name of muh enviroment

>> No.9504363

Oh no.. 0.5%

FUCK THEM

>> No.9504470

I'll bite
>12.5 btc mined per block
>1800 btc mined per day
>657k btc mined a year
which equals 5.4bil USD at current price
assuming miners get no profit and spend all on electricity at 5 cents as per the paper we get
>108bil Kwh a year
which translates to...
>12.35MW
where did I fuck up and where does the author of that paper get 1000x that from? did he forget to carry one or did I?

>> No.9504510

>>9504470
MW is 1000x Kwh not 1,000,000,000x.

>> No.9504551
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9504551

>>9504510
that's not the conversion going on
108bil kwh to 388tril kws/year
1 year is 31.5mil seconds so 388tril kws/year are 12.35mil watts
i forgot to add, brainlets refrain from posting if you cant tell the diference between kwh and kw i got bad news for you

>> No.9504558
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9504558

They already tried.

https://www.theguardian.com/technology/2018/jan/17/bitcoin-electricity-usage-huge-climate-cryptocurrency

>> No.9504591

>>9504551
> what is physics

>> No.9504613
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9504613

>>9504591
>what is it you're trying to imply

>> No.9504781
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9504781

bump for a chance there's someone with some actual input on >>9504470

>> No.9504846

>>9504294
BTC's consumption is still nothing compared to VISA and the Olympics. It's just the media zooming in on one thing and ignoring all the facts and relativity.

>> No.9504878
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9504878

>>9504294
Electricity usage doesn't matter. The problem is that usage is non-existent, which means the whole thing is just a Ponzi. >>9504658

>> No.9505219

>>9504846

Doesn't matter , goverments will find an excuse

Right now we see the typical money laundering and terror finance FUD