Yes, both bitcoin and gold mining are very expensive. Gold mines go down 2 miles down to mine rock that contains 5 gram gold per tonne of rock, extract the gold in a series of very complicated processes to take it to Fort Knox and store it deep underground so it can't be stolen. Bitcoin uses large amounts of electricity to power the computers to mine it. And it's all because humanity is too stupid to work out an efficient enough currency system causing people to seek alternative ways to store value.
On Wed, 14 Apr 2021 at 21:46, Prof David West <profw...@fastmail.fm> wrote: > Just read: in 2024, when it is expected to peak, Bitcoin mining in China > alone will consume more power than the country of Italy. > > Known server farms (excluding NSA, military, etc.) in the US use more > energy per year than the country of England. > > But I am sure they are all "net zero." > > davew > > > On Wed, Apr 14, 2021, at 1:31 PM, uǝlƃ ↙↙↙ wrote: > > > > https://youtu.be/PQbYk1p2cn8 > > > > -- > > ↙↙↙ uǝlƃ > > > > - .... . -..-. . -. -.. -..-. .. ... -..-. .... . .-. . > > FRIAM Applied Complexity Group listserv > > Zoom Fridays 9:30a-12p Mtn GMT-6 bit.ly/virtualfriam > > un/subscribe http://redfish.com/mailman/listinfo/friam_redfish.com > > FRIAM-COMIC http://friam-comic.blogspot.com/ > > archives: http://friam.471366.n2.nabble.com/ > > > > - .... . -..-. . -. -.. -..-. .. ... -..-. .... . .-. . > FRIAM Applied Complexity Group listserv > Zoom Fridays 9:30a-12p Mtn GMT-6 bit.ly/virtualfriam > un/subscribe http://redfish.com/mailman/listinfo/friam_redfish.com > FRIAM-COMIC http://friam-comic.blogspot.com/ > archives: http://friam.471366.n2.nabble.com/ >
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