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Bitcoin's Carbon Footprint

Discussion in 'Casino Industry Discussion' started by Kelly Jo, Dec 9, 2017.

    Dec 9, 2017
  1. Kelly Jo

    Kelly Jo Senior Member MM

    Occupation:
    painter
    Location:
    United States
    "Today, each bitcoin transaction requires the same amount of energy used to power nine homes in the US for one day"

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    " Simply put, bitcoin is slowing the effort to achieve a rapid transition away from fossil fuels. What’s more, this is just the beginning. Given its rapidly growing climate footprint, bitcoin is a malignant development, and it’s getting worse."

    How much of this issue belongs to our community, I wonder? If this article is accurate, then the next logical issue we face is accountability.
    I haven't researched this any further so I can't confirm it's accuracy. I do believe, however, that there is enough general information to warrant concern.
     
  2. Dec 9, 2017
  3. goatwack

    goatwack enthused hangman CAG

    Occupation:
    Turns Tricks
    Location:
    Londonia
    Well as long as it's just US homes that's alright then :eek:
     
  4. Dec 9, 2017
  5. Kelly Jo

    Kelly Jo Senior Member MM

    Occupation:
    painter
    Location:
    United States
    Is your children learning?:p
     
  6. Dec 9, 2017
  7. nikantw

    nikantw Ueber Meister MM PABaccred

    Occupation:
    A bit of this and that
    Location:
    EU
    The most powerful country elected leadership that doesn't care about climate change. That means voters don't care.

    Back to the article. Not important, not real, just food for thought.

    Too many hypotheses. The article starts with "Over the weekend, the price nearly hit $12,000. At the beginning of this year, it was less than $1,000." so what if next weekend it goes down to $1000 or $100?
    Do we know what the future holds? What will be the energy consumption of future computers or when we will master cold fusion? What if a new "eco" currency eliminates bitcoin in the next months?
     
  8. Dec 9, 2017
  9. ed skull murphy

    ed skull murphy 30 day suspension - trollish behavior

    Occupation:
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    I was a chimney sweep, but I had to pack it in because I was leaving huge carbon footprints all over the place.:)

    Let's set a few things straight here:

    Carbon Dioxide is not harmful to the planet, in fact the converse is true. CO2 promotes vegetation, which is good for us humans, and good for the planet in general.

    "Fossil fuels" is a complete misnomer, crude oil is produced close to the earth's core, by cosmic radiation from the sun, the same energy that makes this planet habitable, the life force of the planet, in fact, the energy which provides us with the gravitational force that we are familiar with.

    Crude oil is not made from dead dinosaurs or sea creatures, and it is not in danger of running out, because it continually replenishes itself, thanks to the sun.

    Bitcoins are a threat to the Inter-Alpha Banking Group's desired monopoly of the global money system. Enough said.
     
    Last edited: Dec 9, 2017
  10. Dec 9, 2017
  11. Kelly Jo

    Kelly Jo Senior Member MM

    Occupation:
    painter
    Location:
    United States
    (You might be in the wrong thread. This is not a political debate. That thread is in the attic. Whoopsie!:)))))

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    In case you haven't heard, the debate regarding the relevancy of BTC t has been settled.

    If you're at all familiar with the Bitcoin mining process, it's not difficult to understand that this is a real issue.
    I've done a bit more digging on the topic and there is no shortage of discussions and articles to garner information from..
    Many of them make more dramatic claims than the one referenced in my original post.

    Knowledge and common sense should fuel (no pun intended) our actions. I'm no tree hugger, but I have 3 beautiful children and one perfect granddaughter and their future matters a great deal to me. Treating this dismissively doesn't seem rational from my perspective.
     
  12. Dec 9, 2017
  13. nikantw

    nikantw Ueber Meister MM PABaccred

    Occupation:
    A bit of this and that
    Location:
    EU
    I agreed it is food for thought. But I strongly dissagree that using Bitcoin is going to cause climate change. It may need to change and evolve, but it wont destroy the earth.
     
  14. Dec 9, 2017
  15. ed skull murphy

    ed skull murphy 30 day suspension - trollish behavior

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    I understand your concern Kelly-Jo, but in my opinion, we should be more concerned by the unbridled 'printing' of dollars, pounds, euros by the Federal Reserve, the Bank of England, The European Central Bank, etc. It is literally a black hole of debt that our grandchildren will never extricate themselves from, but are being born into, completely unfairly.
     
  16. Dec 9, 2017
  17. Naok777

    Naok777 Experienced Member

    Occupation:
    Customer Service
    Location:
    UK
    The solution to the problem? People need to move on from traditional crypto currencies like bitcoin, there are other projects You must register/login in order to see the link. for example that replace "for the sake of it" mining with distributed computing or other useful things.
     
  18. Dec 9, 2017
  19. Kelly Jo

    Kelly Jo Senior Member MM

    Occupation:
    painter
    Location:
    United States
    I didn't mean for this to be a debate on climate change. Being knowledgeable and contentious about our impact on the environment shouldn't be a debate.
    I was appropriately shocked when I read this information.

    If my Dad found out I consumed that much energy -making a single bitcoin transaction- he'd roll over in his grave and probably unplug my waterbed like he did when he found out I was sneaking out and sleeping over at my boyfriends house. (I kid you not! He was more mad about wasting energy keeping my bed warm than about me sneaking out... lol!)
     
  20. Dec 9, 2017
  21. 09237653

    09237653 Senior Member

    Occupation:
    .
    Location:
    UK
    End users are not using this much energy per transaction.

    It's down to the miners, literally warehouses full of computing equipment mining bitcoins 24/7 the electricity cost of the one example below was $80,000 a month but it makes $1.5 million in bitcoin per month (at time of filming BTC were worth $375 each now they are $17,000 each)

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    Last edited by a moderator: Dec 12, 2017
    ed skull murphy likes this.
  22. Dec 9, 2017
  23. weesie

    weesie Ueber Meister

    Occupation:
    retired
    Location:
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    This is so much bullshit!

    Keep dragging up lying crap!

    Put this comment in the "politics" section & I wouldn't have read it.... I swore off that section!
     
  24. Dec 10, 2017
  25. nikantw

    nikantw Ueber Meister MM PABaccred

    Occupation:
    A bit of this and that
    Location:
    EU
    Wow :eek:

    A simple "not true" and a link to the correct information would be enough!
    If I am wrong I apologize in advance.
     
  26. Dec 10, 2017
  27. philderby1

    philderby1 Senior Member

    Occupation:
    factory worker
    Location:
    derby
    Polar Bears

    Unfortunately when all said and done, in around 35 years all the polar bears will be extinct due to us throwing greenhouse gasses into the atmosphere.

    Sadly the evidence of this happening is plain to see
     
  28. Dec 10, 2017
  29. ed skull murphy

    ed skull murphy 30 day suspension - trollish behavior

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    Polar Bear Numbers Still On The Rise, Despite ‘Global Warming’

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  30. Dec 10, 2017
  31. ed skull murphy

    ed skull murphy 30 day suspension - trollish behavior

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    Inter-Alpha Group

    Useful article about the Inter-Alpha Group

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  32. Dec 12, 2017
  33. ed skull murphy

    ed skull murphy 30 day suspension - trollish behavior

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    Scientists who dissented from the (peer-reviewed) groupspeak were vilified or ignored. In the 1980’s distinguished British scientist, Sir Fred Hoyle FRS was one who tried and failed to expose the chicanery of proponents of the fossil fuel theory and diminishing world oil reserves. Hoyle, without the benefit of the worldwide web tried repeatedly to expose this flimflam,

    The suggestion that petroleum might have arisen from some transformation of squashed fish or biological detritus is surely the silliest notion to have been entertained by substantial numbers of persons over an extended period of time.”

    The English professor valiantly argued that oil is abiogenic (i.e. from mineral deposition) and cannot be a biotic (from fossils). Yet despite his eminent stature Hoyle’s sage insight gained him no media platform.

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  34. Dec 14, 2017
  35. ed skull murphy

    ed skull murphy 30 day suspension - trollish behavior

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    I hate to keep bumping this thread, but I feel I should add a caveat.

    There are clips on youtube of interviews with the likes of Warren Buffett, John McAfee, Bill Gates etc., and they all seem to be bigging up the BTC boom, which should send up massive red flags, because they are all proponents of globalisation, I believe.

    So bitcoin looks as if it could be being set up for a bust, and it kind of emphasizes that any alternative to the Empire's monopoly of the global monetary system will not be tolerated... or if it is tolerated, will be co-opted and controlled by them.

    Tread carefully!
     
    Last edited: Dec 14, 2017
    nikantw likes this.
  36. Dec 14, 2017
  37. weesie

    weesie Ueber Meister

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    """"and they all seem to be bigging up the BTC boom,""""" What is ""bigging up"""?
     
  38. Dec 14, 2017
  39. ed skull murphy

    ed skull murphy 30 day suspension - trollish behavior

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    Promoting it, big time, by predicting astronomical returns.
     
    weesie likes this.

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