C'est quoi ce délire ?

[Vee]

I'm not sure if this is true or not, but most bad news have at least a percentage of truth. I keep hearing that Bitcoin mining consumes crazy amounts of electricity but if it is this much, it's beyond insanity: Bitcoin mining uses more electricity than 159 countries

How can so much energy be used to create a virtual currency when so many people in this world don't have electricity to cover their basic needs, including functioning hospitals?

FYI "c'est quoi ce délire?" is a polite equivalent of WTF

 

[sun rise]

Unbridled greed is fueling this mania.

 

[Brickjectivity]

Unbridled greed is fueling this mania.

Marginally agree but point out it is not the whole story. Its a new kind of currency, and its an experiment to see if there is a way to make currency better, more private and not government issued. It might be worth it, and remember that there is lots more energy available than anyone can use. The real issue with electricity is how its made, but it can come from sunlight, wind and water.

 

[Valjean]

I don't understand how juggling numbers online could use so much electricity, or how adding a zero could significantly increase wattage.

 

[ChristineM]

I'm not sure if this is true or not, but most bad news have at least a percentage of truth. I keep hearing that Bitcoin mining consumes crazy amounts of electricity but if it is this much, it's beyond insanity: Bitcoin mining uses more electricity than 159 countries

How can so much energy be used to create a virtual currency when so many people in this world don't have electricity to cover their basic needs, including functioning hospitals?

FYI "c'est quoi ce délire?" is a polite equivalent of WTF

I too find it amazing that so much power is required to create a secure 256 bit hash code.

Here is an online page that will create a SHA256 code for free


SHA-256 hash calculator. Online SHA-256 hash generator. Mining Bitcoin

 

[Jumi]

The title on RT is a bit misleading... more than 159 countries means that bitcoin mining uses more power than the topmost country on that list, not all those countries combined. It's still a huge amount.

 

[Grandliseur]

I'm not sure if this is true or not, but most bad news have at least a percentage of truth. I keep hearing that Bitcoin mining consumes crazy amounts of electricity but if it is this much, it's beyond insanity: Bitcoin mining uses more electricity than 159 countries

How can so much energy be used to create a virtual currency when so many people in this world don't have electricity to cover their basic needs, including functioning hospitals?

FYI "c'est quoi ce délire?" is a polite equivalent of WTF

I have read about it a while back and the details of it are fuzzy. However, as they find more bitcoins with their algorithms, finding the next one becomes progressively harder. This means that more crunching power is needed, more computer power; this is now starting to seriously costing real money in the consumption of electricity for computer power translates into power consumption.

I wonder when this bubble shall implode as the rest of the values of this world surely will.

 

[Jumi]

I have read about it a while back and the details of it are fuzzy. However, as they find more bitcoins with their algorithms, finding the next one becomes progressively harder. This means that more crunching power is needed, more computer power; this is now starting to seriously costing real money in the consumption of electricity for computer power translates into power consumption.

I wonder when this bubble shall implode as the rest of the values of this world surely will.

It will end when computing power reaches a point where there is no need for this or some massive catastrophe strikes.

 

[Grandliseur]

It will end when computing power reaches a point where there is no need for this or some massive catastrophe strikes.

It sure seems that we are in the time of the end that the Bible speaks of: unfortunately, how far God wants this world to descend into the cesspool nobody knows.

 

[Augustus]

I have read about it a while back and the details of it are fuzzy. However, as they find more bitcoins with their algorithms, finding the next one becomes progressively harder. This means that more crunching power is needed, more computer power; this is now starting to seriously costing real money in the consumption of electricity for computer power translates into power consumption.

I live in a large, developing country. A few months back I wanted to build up a computer but every single powerful GPU card was out of stock due to Bitcoin mining.

No shop could get any mid to high end GPU, and didn't expect to get any more for a couple of months as they had sold so quickly manufacturers couldn't keep up with the demand.

When miners are emptying entire countries of important computer components, doesn't surprise me that there is a fair bit of electricity being pumped through these.

 

[Grandliseur]

I live in a large, developing country. A few months back I wanted to build up a computer but every single powerful GPU card was out of stock due to Bitcoin mining.

No shop could get any mid to high end GPU, and didn't expect to get any more for a couple of months as they had sold so quickly manufacturers couldn't keep up with the demand.

When miners are emptying entire countries of important computer components, doesn't surprise me that there is a fair bit of electricity being pumped through these.

Wonder what these people would do if their bubble burst and their bitcoins lost all value? Things only have value if others value them. Else, it becomes of no monetary value with just personal interest alone.

 

[Jumi]

It sure seems that we are in the time of the end that the Bible speaks of: unfortunately, how far God wants this world to descend into the cesspool nobody knows.

Doesn't seem like "end times" to me. I wonder how you would have viewed the industrial hell that killed even children during industrialization period or the world wars... now those were end times to people living them.

 

[Grandliseur]

Doesn't seem like "end times" to me. I wonder how you would have viewed the industrial hell that killed even children during industrialization period or the world wars... now those were end times to people living them.

I've been wrong before, but I hope not. It is something every Christian would want, not the end, per say, but the kingdom, paradise, end of this wicked world.

 

[Jumi]

I've been wrong before, but I hope not. It is something every Christian would want, not the end, per say, but the kingdom, paradise, end of this wicked world.

I believe the Kingdom of God is within us all, waiting for us to sound the trumpets and crash the walls so to speak. I believe that for a kingdom on Earth it is the job of all of us to work together for. Sadly, it takes a long time to grow fruit from a good seedling, but a short time to destroy it. So we have to be out looking to do good, to plant those good seeds with our actions, with our thoughts as often as we can. This is what I think, waiting for the end or even a new beginning is time we could be growing our crops.

 

[Grandliseur]

I believe the Kingdom of God is within us all, waiting for us to sound the trumpets and crash the walls so to speak. I believe that for a kingdom on Earth it is the job of all of us to work together for. Sadly, it takes a long time to grow fruit from a good seedling, but a short time to destroy it. So we have to be out looking to do good, to plant those good seeds with our actions, with our thoughts as often as we can. This is what I think, waiting for the end or even a new beginning is time we could be growing our crops.

Just sitting around and not living waiting for the kingdom is a waste of life. That is not what we are asked to do. So, we should live our lives and as you kind of say, try to live a life where we produce the works of righteousness, goodness - if we can. The kingdom promised here on earth will come without us doing anything when God wants it to. We can do nothing to speed this up. Since Christ, every generation, about 5 every hundred years, or so, have hoped for it. (if a new generation is begun every 20 years or so).

 

[Vee]

I don't understand how juggling numbers online could use so much electricity, or how adding a zero could significantly increase wattage.

Me neither

 

[Vee]

The real issue with electricity is how its made, but it can come from sunlight, wind and water.

True, but the oil industry is not going down without a fight

 

[Brickjectivity]

True, but the oil industry is not going down without a fight

We could insist upon not using fossil fuels, but I think extracting the oil is a necessity -- though we are burning too much. I think we need to extract it. I am concerned that one day all the oil underground might leak into the ocean and kill everything, so it may not be such a bad idea that we are extracting it. Remember what happens whenever BP or Exxon make a mistake? Imagine that times ten million -- dead oceans and depleted air. That could happen, and it could be as bad as many other catastrophes. You could cover the entire surface of the ocean with a thick slick of oil -- ending the rain cycle. People and animals would die from starvation, lack of water and maybe oxygen. The cleanup of such a spill would take many years, and the Earth would not fully recover for centuries I think.

What we need is a multi generational project that extracts the oil and changes it into something less dangerous but without burning it. That is something that will cost money rather than make money. Turn it into...I don't know...mountains or something.