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Environment & Energy

mr_lebowski

(33,643 posts)

1. Wow ... this article is WILDLY wrong in it's terminology ...

Reply to Jim__ (Original post)

Mon Oct 29, 2018, 02:16 PM

Oct 2018

I don't disagree with the overall conclusion that Bitcoin is extremely wasteful in terms of electricity, but the author here doesn't understand how it works, nor a number of its important 'terms'.

Especially not 'miners' lol ...

CREATING Bitcoins, which is what is done by 'Miners' ... is what uses the electricity in vast amounts.

PURCHASING using Bitcoin ... is not any big deal in terms of energy consumption.

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Highlight:

Bitcoin can push global warming above 2 C in a couple decades [View all] Jim__ Oct 2018 OP

Wow ... this article is WILDLY wrong in it's terminology ... mr_lebowski Oct 2018 #1

My understanding is that all bitcoin transactions require mining. Jim__ Oct 2018 #2

Your reading is not unreasonable given only basic knowledge on Bitcoin ... mr_lebowski Oct 2018 #6

WTF? Duppers Oct 2018 #3

Now, I've heard EVERYTHING! littlemissmartypants Oct 2018 #4

It's not wrong that bitcoin mining uses a TON of power ... mr_lebowski Oct 2018 #5

This is for you, mr_lebowski. littlemissmartypants Nov 2018 #7