Bitcoin Rally Stirs BofA Alarm

    Posted by steve on 23rd of Mar 2021 at 09:18 am

    Bitcoin Rally Stirs BofA Alarm on ‘Enormous’ Surge in Energy Use [Huge carbon footprint] The energy used by the network of computers that power the digital coin is comparable to that of many developed countries and rivals the emissions from major fossil-fuel users and producers… The level of emissions, which have risen alongside a spike in Bitcoin’s price, have grown by more than 40 million tons in the past two years. And when the digital asset is trading around $50,000 -- which it’s done for much of this year -- it uses about 0.4% of global energy consumption…

    Wow.   That's startling.  

    Posted by z0ned on 23rd of Mar 2021 at 10:12 am

    Wow.   That's startling.   Lead me to read other articles on this, one of which said "researchers at the University of New Mexico has put a price on that pollution, estimatingin a paper that every dollar of bitcoin value mined accounts for 49 cents' worth of health and climate damage in the U.S".   That sounds unsustainable to me.

    yes I read that mining

    Posted by matt on 23rd of Mar 2021 at 10:44 am

    yes I read that mining Bitcoin collectively uses as much energy as the entire country of New Zealand, and for what? it's very wasteful uses a lot of energy. The green party should hate Bitcoin, but many of them are big believers in it and have positions so contradictory

    and don't get me started about NFT's. I should make an NFT of one of the KISS charts and auction off for $100K, crazy world these days

    NFT's for art seem way

    Posted by jtsurfah on 23rd of Mar 2021 at 11:17 am

    NFT's for art seem way overblown, but I'm all in for anything that disrupts the anti competitive practices in the American real estate industry and reduces the exorbitant fees & commissions they are able to charge as a result of those practices.  Smart contracts on blockchains (NFT's) seem like they hold promise in this area. 


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