Bitcoin Mining Could Create Jobs In Texas. It Could Also Overwhelm The Grid.

[TexasTowelie]

China is largely getting out of the Bitcoin mining business. That’s because the process is extremely energy hungry and China was supplying it mostly with fossil fuels – hurting its climate change goals.

Some Texas leaders have suggested the Lone Star State might be a good alternative location but Jake Dean reports for Slate that the required energy consumption ought to be a deterrent.

“So if we turn to the Bitcoin Energy Consumption Index, which is an attempt to actually estimate the amount of energy being used, just from a couple of days ago, the current estimates are about 133 TWh (terawatt hours) per year,” Dean said. “Which to put that in perspective, that’s about the energy usage of the entire country of Argentina being dedicated to Bitcoin mining and Bitcoin transactions.”

Bitcoin mining basically involves using computers to solve very complex problems to ensure the security of the cryptocurrency.

Read more; https://www.texasstandard.org/stories/bitcoin-mining-could-create-jobs-in-texas-it-could-also-overwhelm-the-grid/

🚩 Rick Perry and Ted Cruz are promoting Bitcoin mining.

[NoMoreRepugs]

1. 100% certain peabrain perry thinks Bitcoin mining is an actual

hole in a mountain that is being scratched out.

[underpants]

2. I read an investopedia article on this but one question I have

Is the process of mining and adding block, a way to show that you have enough computer capacity to sustain the added bitcoin through storage and transaction retention?

[TexasTowelie]

3. I'm not touching that question with a 10 foot pole. nt

[Javaman]

4. of course those two morons are promoting it.

they have this salivating belief that if texas can get it's own currency, they can "throw of the shackles" of the United States.

in other words, cement head perry and zodiac killer cruz are on crack.