Why the Biggest Bitcoin Mines Are in China - IEEE Spectrum
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Interesting story, almost feels like one of those bad sci-fi movies about the future where the world is made up of a buildings which are made up of a racks of computers. Why the Biggest Bitcoin Mines Are in China - IEEE Spectrum[^]
Speechless. Well, if I had anything to say, it would be that Bitcoin is the up-and-coming new evil. Or, depending on your point of view, just a fad. But what a beast of a fad.
Latest Article - Class-less Coding - Minimalist C# and Why F# and Function Programming Has Some Advantages Learning to code with python is like learning to swim with those little arm floaties. It gives you undeserved confidence and will eventually drown you. - DangerBunny Artificial intelligence is the only remedy for natural stupidity. - CDP1802
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Interesting story, almost feels like one of those bad sci-fi movies about the future where the world is made up of a buildings which are made up of a racks of computers. Why the Biggest Bitcoin Mines Are in China - IEEE Spectrum[^]
How much electric energy is being consumed? Scared to know... The devil is in its most fitting forms. :^)
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How much electric energy is being consumed? Scared to know... The devil is in its most fitting forms. :^)
..the same amount as in the hunt for gold, but with fewer mountain-top removals and a lot less dangerous chemical. It is also a game with diminishing returns, meaning there'll be a point where mining (goes for gold aswell as bitcoin) is costing more than it returns. It is good to know that there is a currency out there that Mario cannot influence yet :)
Bastard Programmer from Hell :suss: If you can't read my code, try converting it here[^][](X-Clacks-Overhead: GNU Terry Pratchett)
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How much electric energy is being consumed? Scared to know... The devil is in its most fitting forms. :^)
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Speechless. Well, if I had anything to say, it would be that Bitcoin is the up-and-coming new evil. Or, depending on your point of view, just a fad. But what a beast of a fad.
Latest Article - Class-less Coding - Minimalist C# and Why F# and Function Programming Has Some Advantages Learning to code with python is like learning to swim with those little arm floaties. It gives you undeserved confidence and will eventually drown you. - DangerBunny Artificial intelligence is the only remedy for natural stupidity. - CDP1802
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Alaa Ben Fatma wrote:
How much electric energy is being consumed?
That portion of the article was really shocking. The part of the article that said they were turning energy into money (bitcoin) is just crazy.
Doesn't it just mean that electric power is being undervalued, or that bitcoin is overvalued, or a combination of those? There should be some amount of profitability even at equilibrium since there is a barrier to entry, but it's pretty low. Also it is clearly not a waste of power (it produces value) so I don't find it shocking or crazy. If people were turning power into bitcoin at a loss, *that* would be crazy.
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Doesn't it just mean that electric power is being undervalued, or that bitcoin is overvalued, or a combination of those? There should be some amount of profitability even at equilibrium since there is a barrier to entry, but it's pretty low. Also it is clearly not a waste of power (it produces value) so I don't find it shocking or crazy. If people were turning power into bitcoin at a loss, *that* would be crazy.
