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Bitcoin could kill Paris Agreement on Climate Change.

Discussion in 'The War Room' started by JonesBones, Aug 6, 2018.

  1. JonesBones

    JonesBones Excuse my contraflow

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    Old subject but new study. Massive resources wasted on this garbage.

    A study published in Energy Research & Social Science warns that failure to lower the energy use by Bitcoin and similar Blockchain designs may prevent nations from reaching their climate change mitigation obligations under the Paris Agreement.

    Read more at: https://phys.org/news/2018-07-energy-intensive-bitcoin-transactions-pose-environmental.html#jCp

    Putting this into perspective, Dr. Truby said, "the processes involved in a single Bitcoin transaction could provide electricity to a British home for a month—with the environmental costs socialized for private benefit.


    [​IMG]
     
    Last edited: Aug 6, 2018
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  2. bobgeese

    bobgeese Silver Belt

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    Good, it was a shitty plan denounced by both sides.
     
  3. Gunny

    Gunny Gold Belt

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    Boy, that sounds like a whole lot of bullshit - and does nothing to dissuade those inclined to think climate policies are being abused to sneak financial controls through the back door.
     
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  4. HockeyBjj

    HockeyBjj Putting on the foil

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    Wait, what? They’re claiming the algorithm to create bitcoins is so intense it’s holding an entire super computer hostage?

    There is no way a system like that would get off the ground when Bitcoin first started getting traded
     
  5. Headkicktoleg

    Headkicktoleg Steel Belt

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    It becomes harder and harder to mine bitcoin the more is out there. It started off very easy.
     
  6. Orgasmo

    Orgasmo Red Belt

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    Blockchain technology could be revolutionary, but the offshoot coins and tokens are worthless.
     
  7. snakedafunky

    snakedafunky Red Belt

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    How about instead of mining Bitcoins we just start minning clean Bitcoins?
    Works great with coal.
     
    Fawlty and Execute like this.
  8. HunterSdVa29

    HunterSdVa29 Respect, tho Platinum Member

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    I thought they were like building servers in ice mountains and caves or some ish

    at least that's what the horrible YT commercials I see say.....
     
  9. Fugazy

    Fugazy Aka Ferrari Houseshoes

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    I dont buy it.
     
  10. xcvbn

    xcvbn Silver Belt Platinum Member

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    Bitcoin and to a lesser extent Ethereum are very inefficient, but this is the cost to having decentralization and security.

    However, Ethereum is in major development to improve efficiency to the level of Visa and beyond. It's the #1 problem facing blockchain technology and they're well aware.
     
  11. superking

    superking Poet — Traveler — Soldier of Fortune

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    But what about my 6000 xrp that I got for a fraction of a cent each?!
     
  12. Cubo de Sangre

    Cubo de Sangre President of the War Room

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    Good time to invest in solar now?
     
  13. Binh Dover

    Binh Dover Orange Belt

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    Yes mining is extremely wasteful. Luckily there are new crypto methods being developed which promise an end to mining and thus wasteful energy consumption while maintaining the same security of Bitcoin.

    "Nano" is the leader in this aspect. Best part about Nano? Zero transaction fees (always) and a focus on decentralization (although this currency has a long way to go in this aspect, as do all crypto currencies)

    If Nano can prove the security is on par with Bitcoin, it can do very well in the future...
     
    Last edited: Aug 6, 2018
  14. Binh Dover

    Binh Dover Orange Belt

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    Maybe you should sell that shit lol
     
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  15. 7437

    7437 Gold Belt

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    My dogecoin holds value nicely
     
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