Why? Because it could help the fight against Hotcoldwetdry
Why the cryptocurrency price collapse offers hope for slowing climate change
Cryptocurrencies like bitcoin were meant to be used as digital cash. Instead, they’ve become popular as speculative investments. As well as being resource-intensive and inherently wasteful, cryptocurrencies are also incredibly volatile. Prices for the largest cryptocurrencies, bitcoin and ethereum, have both dropped by over 55% in six months, leading some to suggest that regulation is needed to contain the turmoil. (snip)
The most polluting “proof-of-work” cryptocurrencies, like bitcoin, ethereum and dogecoin, together use around 300 terawatt-hours (TW/h) of mainly fossil-fuelled electricity each year. Bitcoin has an annual carbon footprint of around 114 million tonnes. That’s roughly comparable to 380,000 space rocket launches, or the annual carbon footprint of the Czech Republic.
Proof-of-work mining can be thought of as a controlled way of wasting energy. The process involves specialist computers repeatedly taking random shots at guessing a long string of digits. The amount of computing power dedicated to this effort is referred to as the network’s hash rate.
See, crypto is Bad for ‘climate change’, so, it’s good that people are losing butt tons of their money, so, hopefully people will stop using them
The damage caused by bitcoin mining disproportionately affects poor and vulnerable communities, as mining outfits and crypto developers take advantage of economic instability, weak regulations and access to cheap energy. Locals wanting to use these resources for productive purposes can be priced out by bitcoin miners. These communities also tend to face the sharp end of the climate crisis, which crypto mining fuels.
It’s always the uber-white middle and upper class Warmists whiteknighting for the poor and minorities, while creating policies that keep them poor.
In the aftermath of the 2008-10 global financial crisis, governments promised a crackdown on toxic financial instruments with make-believe valuations. For the global climate and a stable economy, cracking down now on crypto will be a boon for everyone. But if environmental regulation efforts are not globally coordinated or far-reaching enough, crypto’s climate contagion will continue to grow.
By cracking down, the writer, “Peter Howson, Senior Lecturer in International Development, Northumbria University, Newcastle”, means banning cryto. How much money would people lose at that point, all for a doomsday cult?
Global bitcoin mining currently consumes 0.1% of power.
Much of that is off peak renewable energy
Climate change deniers seem to be wanting to point out a fantasy that very few believe.
Energy consumption isn’t the problem with bitcoin, LOL.
Johnny-who denies the climate is changing? Please be specific. Thanks
We recommend trading your bitcoin for Non-Fungible Tokens (NFTs). Your ownership is contained in a blockchain!!
“In the aftermath of the 2008-10 global financial crisis, governments promised a crackdown on toxic financial instruments with make-believe valuations.”
Is he referring to “carbon credits” which only exist to validate leftists and make them rich? That’s the real scam.
Seriously, clever guys, clever at taking your hard-earned cash, create and deflate ‘markets’ walking away with your hard-earned cash. Many do it illegally, the really good ones do it legally!
“OK folks, here we have an imaginary currency NOT controlled by governments and backed by the belief that that it is real! We ‘mine’ these ‘coins’ using the blockchain. That’s right. The blockchain!! Who wants in?”
On another rant there Dowd? Bitcoin is as imaginary as carbon credits as CarolAnn pointed out. Except one can actually buy something with Bitcoin other than fake carbon from a dude in his basement in Peoria. Besides, when did you start being an advocate for ripped-off capitalists? Stick with the stuff you actually know like how men get pregnant and the democrat definition of what a woman is. Oh, sorry!
Stick with the stuff you actually know like…
…diddling underage boys like your grandson.
#LGBFJB
#AssRapinGranpa
Bwaha! Lolgf
drowningpuppies sucks dicks. Even some human ones.
Anyway projector, I’m not an actual Catholic.
BTW, you should get a DNA test. I diddled your mama.
#LGdpFTeach
#DickSuckingMamasBoy
Bwaha! Lolgf
Like Kye already told you, stick with the stuff you actually know.
#LGBFJB
#AssRapinGranpa
Bwaha! Lolgfy
We know you, basement boy.
In fact, much of your assholery can be blamed on your history. We pity you.
#DickSuckingMamasBoy
Like Kye already told you, stick to the stuff you actually know.
#LGBFJB
#AssRapinGranpa
Bwaha! Lolgf
We note Rev Kye is an advocate for the imaginary bitcoin. Yes, you can buy nearly $30,000 US dollars with a bitcoin. A few months ago you could buy almost $70,000 USD with your bitcoin!
Despite your persistent and perfectly understandable, cranky irascibleness, we’re pleased you’re still alive. If we were in your shoes we’d be irascible too. But stick with the stuff you actually know, like the redistribution of USD from hard-working taxpayers to the idle wealthy.
Do you still call the US Vice-President a ‘whore’?
I’ll be in Philly in June. Wanna coffee?
Best, Elwood
I am not an advocate for Bitcoin. Never was. Where do you get these accusations? Is it because I don’t come out screaming and gnashing my teeth about people using Bitcoin? I just think it’s their business and as usual you seem to think their business is your business.
BTW, I just spent $8.50 for a pound of bacon and a few months ago I could have bought that same pound of bacon for $3.50. That’s bidenflation. I don’t believe in redistribution of any kind as you rightly know so I fail to see where you come up with that shit. That’s stealing. And I do not know many “idle wealthy”. Everyone I know over 16 regardless of age works for a living. Some are landscapers, house painters and bartenders and some work in offices, at home or on computers and some own businesses but they are all paid for the work they do not for being idle.
I’d love to meet you in Philly in June. When the time nears let’s pick a place where we can meet it would be interesting to meet you. I bet in person you’re a lot nicer than you are here. If you’re bringing your wife I’ll bring mine too. We can do lunch.
When Rimjob doesn’t have a keyboard to hide behind you bet he’s nicer.
Can’t get punched out hiding behind a keyboard.
#LGBFJB
#AssRapinGranpa
Bwaha! Lolgf
I’ve invited drowningpuppies to visit at may expense many times.
No dice. Why not? My grandsons’ dads would be happy to meet him.
#DickLickingMamasBoy
Love the hollow threats from the guy hiding behind the keyboard.
Rimjob, keyboard “tough guy” indeed.
#LGBFJB
#AssRapinGranpa
Bwaha! Lolgf
Pups,
Careful, you could make him have the vapors. He is very delicate.
Them d & d boys be soooo tough, LOL. Keyboard Kommandoes Kunts Inc., they are.
Louisiana losers!