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Bitcoin consumes more electricity than Argentina

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    Bitcoin consumes more electricity than Argentina

    Must be true BBC said so!!
    Bitcoin consumes '''more electricity than Argentina''' - BBC News

    What surprised me was this
    "However, it also suggests the amount of electricity consumed every year by always-on but inactive home devices in the US alone could power the entire Bitcoin network for a year."

    #2
    Bigger "value" than Argentina's GDP

    Comment


      #3
      It's like 2017 all over again.


      Another "interesting fact". 2% of Bitcoin hodlers hold over 70% of the crypto. When the whale's think it's time to cash in, the price is gonna cave again.
      First Law of Contracting: Only the strong survive

      Comment


        #4
        Originally posted by _V_ View Post
        It's like 2017 all over again.


        Another "interesting fact". 2% of Bitcoin hodlers hold over 70% of the crypto. When the whale's think it's time to cash in, the price is gonna cave again.
        When they cash in it will be on Teslas or Space-X flights.

        Comment


          #5
          Originally posted by BrilloPad View Post
          When they cash in it will be on Teslas or Space-X flights.
          No, Lambos.

          Comment


            #6
            Seem to recall a few years ago that Iceland uses more energy on bitcoin than for all other uses in their country. But ... because energy is very cheap over there (thermal heat etc) it's why a lot of crypto mining companies base their servers there.

            Can't remember where I heard this, or if an urban myth .... I'm sure somebody will Google for me to confirm or correct me
            I am what I drink, and I'm a bitter man

            Comment


              #7
              I find it bizarre that Musk has announced people can buy Tesla with bitcoin. Who would likely pay in bitcoin? The price might zoom in a year and double. You would not want to be like that dude who bought a pizza with thousands of bitcoin.

              Musk clearly has other dark ideas with his bitcoin announcement and it has nothing to do with using it as payment for a car.
              Vote Corbyn ! Save this country !

              Comment


                #8
                Originally posted by Whorty View Post
                Seem to recall a few years ago that Iceland uses more energy on bitcoin than for all other uses in their country. But ... because energy is very cheap over there (thermal heat etc) it's why a lot of crypto mining companies base their servers there.

                Can't remember where I heard this, or if an urban myth .... I'm sure somebody will Google for me to confirm or correct me
                I read somewhere that lots of mining companies are based near some hydro electric dam in the USA where electricity is cheap as chips
                Vote Corbyn ! Save this country !

                Comment


                  #9
                  Originally posted by _V_ View Post
                  It's like 2017 all over again.


                  Another "interesting fact". 2% of Bitcoin hodlers hold over 70% of the crypto. When the whale's think it's time to cash in, the price is gonna cave again.
                  Or 1637 and tulip mania? Bitcoin was worth around $370 in Feb 2016 so in just five years has multiplied 123 times.

                  I can't really believe that the global financial system is going to take it seriously as a store of value if it cannot be controlled like the usual money supply by central banks.

                  Comment


                    #10
                    Tulip mania wasn’t wasting perfectly fine Leyden jars

                    Comment

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