Satoshi Nakamoto (whoever he/she/they is), in this instance defined it, as they explicitly designed Bitcoin to waste energy. That's how it works.
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- Thread starter mcast123
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Satoshi Nakamoto (whoever he/she/they is), in this instance defined it, as they explicitly designed Bitcoin to waste energy. That's how it works.
Soldato
Well as you suggest and therefore know, via a myriad of factors, but one of those factors is amount of energy used. All the 'hobbies' you mention - and others - use pittance compared.
Arguably most energy is wasted since what's used on essential services would be quite minimal I imagine.
The fact that there's a conversation here about it just shows the impact of Bitcoin on energy use. You're probably the first person ever to question fountains and model railways.
Caporegime
Yawn.
Anything worth following recently?
Anything worth following recently?
Again, you are still missing the point. What is a "waste" of energy?
The energy used still does something. It mines bitcoins for the blockchain. That is putting the energy to use.
The question is whether you define that use as a waste or not.
You think gaming and youtube streaming uses a "pittance" in comparison? Streaming and youtube etc has a massive carbon footprint.
They are just examples. Decorative lights, features and fountains etc must consume an absolutely monumentally large amount of electricity. Christmas lights alone account for a staggering amount of power use each year.
Are they necessary?
Again, i am not making a judgement on whether any these uses of electricity are "valuable". I am simply saying that it is completely subjective, and that when it comes down to it, you cannot simply make an arbitrary decision that one thing is wasteful and one thing isn't.
The energy does not mine bitcoins. You seem to not understand how the system works. The energy is wasted by definition, the algorithm is simply a means of proving how much energy has been wasted. The network then awards new coins based on who wasted the most energy.
It is horrendously inefficient, because it was designed to be horrendously inefficient. That's the problem with it.
*sigh* You obviously dont understand my point. You just saying it is "wasted" over and over again shows that.
The energy is still used for something. It is used to power the gpu's to carry out the calculations.
The notion of whether that is a "waste" is entirely subjective when compared to the myriad of other things humans use electricity for.
I give up. If you want to advocate for Bitcoin you should probably go read up on how it works!
Back to stocks....
I know how it works. The electricity use in question is used to power the hardware that verifies the transactions and tries to solve (well, guess) the hexadecimal "problem" for the reward.
Just to point out - i am not advocating for Bitcoin or even saying i personally dont agree it is a waste of electricity.
I am simply saying that it seems unfair to single it out, when electricity gets wasted the world over, and some of the same people ***** on bitcoin likely have never batted an eyelid to other myriad of wasteful (electricity wise) things they and everyone else does.
Caporegime
Goto the bitcoin thread, this is stocks and it's been nothing but bitcoin chat for the last ten posts or so
Soldato
- Joined
- 14 Mar 2011
- Posts
- 5,421
Goto the bitcoin thread, this is stocks and it's been nothing but bitcoin chat for the last ten posts or so
Yeah imagine all the electricity being wasted by us all typing out the posts in that discussion and the OcUK servers whirring away to commit it to the forum - it's an absolute outrage I tell you!
Goto the bitcoin thread, this is stocks and it's been nothing but bitcoin chat for the last ten posts or so
I didn't start it/bring it up
Caporegime
I hope this week brings me some ups.
Last week was horrid but I held through.
Lost 2 months gainnnz
Last week was horrid but I held through.
Lost 2 months gainnnz
Soldato
Cellular Goods dropping now. Imagine that it's down to people being able to see and realise a decent profit.
Mine still aren't available. Wonder how much it'll continue to drop until i can sell!
Definitely won't be using Interactive Investor again.
Mine still aren't available. Wonder how much it'll continue to drop until i can sell!
Definitely won't be using Interactive Investor again.
Soldato
I think CBX will raise in value closer to september product launch, I will be holding until then.
Was expecting some kind of bounce early this week with the US stimulus being approved over the weekend). The question is whether it is sustained or not, can the bulls stay in the driving seat for the rest of the week?
The chart from the full US day will be telling. Are people cautious, taking profits and drag the markets down over the course of the day, or will it be genuine sustained positive sentiment.
Associate
- Joined
- 15 Oct 2015
- Posts
- 1,480
I'm going to hold them long term. Mine have gone in value though due to the price increase for when my purchase went through, but not gonna panic about it yet.
Some random musing and thoughts.
Firstly, I left any group which has anything to do with the whole Gamestop thing, purely because of how irritating the posters were. Every single post is "the the moon" and rockets and stuff, irrespective of what the shares are doing. It's absolute retardation and madness at its finest. I always thought that WSB's description of "if 4chan found a bloomberg terminal" was a bit humorous but lawdy lawd is it true.
Secondly, I got a few free shares on Freetrade thanks to referrals. Apparently some of them will award dividends, but Freeshare is a very basic app. HL's website confirms that there have been dividends handed out in the past and the EPS for one of the shares is around 6% which isn't too bad (British Land). My question is where do I find out about these, and how can I decide what happens to the money? Ideally I just want to tell the app to reinvest any earnings straight back in to the share they come from and leave it for a few years, topping up some more and slowly growing my portfolio.
Cheers
Firstly, I left any group which has anything to do with the whole Gamestop thing, purely because of how irritating the posters were. Every single post is "the the moon" and rockets and stuff, irrespective of what the shares are doing. It's absolute retardation and madness at its finest. I always thought that WSB's description of "if 4chan found a bloomberg terminal" was a bit humorous but lawdy lawd is it true.
Secondly, I got a few free shares on Freetrade thanks to referrals. Apparently some of them will award dividends, but Freeshare is a very basic app. HL's website confirms that there have been dividends handed out in the past and the EPS for one of the shares is around 6% which isn't too bad (British Land). My question is where do I find out about these, and how can I decide what happens to the money? Ideally I just want to tell the app to reinvest any earnings straight back in to the share they come from and leave it for a few years, topping up some more and slowly growing my portfolio.
Cheers
Soldato
Another holder here as well, I put in £200. I was tempted to sell at 20p, but let's see what comes in a few months