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8
The Cost Of Mining Bitcoin In 198 Different Countries (greatgameindia.com)
posted 3 years ago by ashlanddog 3 years ago by ashlanddog +8 / -0
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Comments (11)
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▲ 2 ▼
– Taffy333 2 points 3 years ago +3 / -1

FTA: A single bitcoin is thought to require 1,449 kilowatt hours (kWh) of energy to mine. That is equivalent to the energy used by a typical American home over the course of 13 years.

But it's GREEN renewable energy! Don't you know green renewable energy when you see it!!?

I think what GREEN energy means is money gets laundered to the elites, so it is green (cash) for them.

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▲ 2 ▼
– PewPew82 2 points 3 years ago +2 / -0

not sure where the 13 years came from... I average 800kWh per month. My annual use is 9,608kWh for a 1250sqft home in Michigan. Link below has the 2020 avg. at 893kWh/month

https://www.eia.gov/tools/faqs/faq.php?id=97&t=3

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▲ 2 ▼
– ashlanddog [S] 2 points 3 years ago +2 / -0

https://youtu.be/JDSPwexlyTo

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▲ 2 ▼
– Taffy333 2 points 3 years ago +2 / -0

😸😸😸

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▲ -1 ▼
– anatidaephobia -1 points 3 years ago +1 / -2

So you're saying the average American home has a average 24/7 electric consumption of only 12 watts?

You do realize a a light bulb consumes 55-60W, and about 3W for a modern LED light, your LED TV takes about 100W, CRT, LCD and older TV's use more energy. Laptops and phones charge at a couple of 100W. A gaming PC around 500W when running, computer monitors, power tools, kitchen appliances, towel dryer, washing machine, dryer, dishwasher and everything else using electricity.

That's retarded, and besides most machines means nothing compared to electric boilers and AC units, now we're talking a constant use of between 3 000W and 15 000W. 1500kWh would barely heat my house for a month. I'm spending an additional 1000kWh/mo on mining and take advantage of the excess heat.

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▲ 2 ▼
– HenryTheRed 2 points 3 years ago +3 / -1

Yeah, invest in something that needs a Flux-Capacitor to power its energy needs. Pair that with the green new deal; while keeping in mind that is is FAIT.

Might want to hedge that 4th mortgage with something with a longer history of stability.

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▲ 4 ▼
– ashlanddog [S] 4 points 3 years ago +4 / -0

https://babylonbee.com/news/crypto-investor-can-still-afford-imaginary-cryptofood-and-pretend-cryptocar

...doggy winks....

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▲ 1 ▼
– xchainlinkx 1 point 3 years ago +2 / -1

Bitcoin is not fiat.

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▲ 0 ▼
– Taffy333 0 points 3 years ago +2 / -2

It is if it's not backed by a precious metal. That's what fiat means.

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▲ 2 ▼
– xchainlinkx 2 points 3 years ago +2 / -0

Are we changing the definition of fiat currency now? No. Fiat currency is a currency not backed by any physical commodity.

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▲ 1 ▼
– anatidaephobia 1 point 3 years ago +1 / -0

Fiat currency is defined as:

  • Fiat money is a government-issued currency that is not backed by a commodity such as gold.
  • Fiat money gives central banks greater control over the economy because they can control how much money is printed.
  • Most modern paper currencies, such as the U.S. dollar, are fiat currencies.
  • One danger of fiat money is that governments can print too much of it, resulting in hyperinflation.

None of these points matches cryptocurrency. Bitcoin itself is a type of asset class that doesn't need backing. Try use your brain for once, now imagine you have a gold coin in your hand, a bullet, a grain of salt or whatever, now what makes it's valuable?

Notice that you can't just put your hand out and magically spawn any of those things. Same with crypto, you can't create it out of thin air, it requires physical work or energy, some form of investment from your end. There's the value.

Fiat on the other hand you can print out of thin air, but if you're not a member of the cabal they'll beat you up and steal your currency. "Backed by" is a lie worth as little as "Dude trust me".

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