Official mining thread – page 38 – rage3d discussion area hp gas online booking hyderabad

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Bitcoin miners will guzzle more electricity this year than some countries do, according to new numbers from a leading researcher. And while some critics take issue with these figures, few disagree that the digital currency’s energy use is a problem that’s only getting bigger.

Bitcoins are exchanged along a public digital ledger, known as a blockchain, where every move is tracked and verified by computers doing complex mathematical calculations, called hashes. Those willing to lend a hand in verifying the transactions and building the blockchain are rewarded with bitcoins.

It takes quite a bit of computational power to pull that off, and de Vries is among those taking a stab at figuring out just how much energy is used in conducting all that work, publishing his latest survey — the first peer-reviewed research on the topic — in the scientific energy journal Joule.

By his math, computers hashing for bitcoins — known as "miners" — are currently using at least 2.5 gigawatts of power per year, and are on track to collectively suck up more than three times that by the end of this year. That’s more than Ireland, Austria, the Czech Republic, the Netherlands and most Canadian provinces each use in a year.

Riptide a debate is a discussion by people with opposing views each putting their side of the argument. Just because you don’t agree with it doesn’t mean it’s bullcrap. The use of electricity is a huge issue in mining as it’s a finite resource that can’t simply be increased to supply demand.

Let’s face it miners are in it for avarice and greed and not to further mans understanding. OK that’s a human attribute and we all have freedom of choice but I would argue that anyone who is doing that should be made to pay their fair share. A work around could be a fair share policy in that anyone who uses their ‘fair share’ of electricity is notified and then told that further usage will cost them say 50 x per unit for further useage. It’s then up to you to decide what to do. Why should the average Joe subsidise the greedy miners?

Also what you call bullcrap are serious scientific studies into the use of electricity in mining, they’re not click bait by uninformed tech journalists. You can of Course bury your head in the sand about the whole subject but don’t forget what’s exposed when you do that

Bitcoin miners will guzzle more electricity this year than some countries do, according to new numbers from a leading researcher. And while some critics take issue with these figures, few disagree that the digital currency’s energy use is a problem that’s only getting bigger.

Bitcoins are exchanged along a public digital ledger, known as a blockchain, where every move is tracked and verified by computers doing complex mathematical calculations, called hashes. Those willing to lend a hand in verifying the transactions and building the blockchain are rewarded with bitcoins.

It takes quite a bit of computational power to pull that off, and de Vries is among those taking a stab at figuring out just how much energy is used in conducting all that work, publishing his latest survey — the first peer-reviewed research on the topic — in the scientific energy journal Joule.

By his math, computers hashing for bitcoins — known as "miners" — are currently using at least 2.5 gigawatts of power per year, and are on track to collectively suck up more than three times that by the end of this year. That’s more than Ireland, Austria, the Czech Republic, the Netherlands and most Canadian provinces each use in a year.

Riptide a debate is a discussion by people with opposing views each putting their side of the argument. Just because you don’t agree with it doesn’t mean it’s bullcrap. The use of electricity is a huge issue in mining as it’s a finite resource that can’t simply be increased to supply demand.

Let’s face it miners are in it for avarice and greed and not to further mans understanding. OK that’s a human attribute and we all have freedom of choice but I would argue that anyone who is doing that should be made to pay their fair share. A work around could be a fair share policy in that anyone who uses their ‘fair share’ of electricity is notified and then told that further usage will cost them say 50 x per unit for further useage. It’s then up to you to decide what to do. Why should the average Joe subsidise the greedy miners?

Also what you call bullcrap are serious scientific studies into the use of electricity in mining, they’re not click bait by uninformed tech journalists. You can of Course bury your head in the sand about the whole subject but don’t forget what’s exposed when you do that