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Bitcoin Vault

Bitcoin Vault

March 16, 2014 No Comments

Bitcoin Vault

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Exposing the Unintended Consequences of Digital Trends. @digiconomist@mastodon.nl

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2h 1641179792509739008

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Digiconomist @DigiEconomist

The carbon footprint of a single Bitcoin transaction easily exceeds the per passenger carbon footprint of a direct flight from New York to London.

On top of that the average e-waste generation per Bitcoin transaction is also equivalent to throwing away an iPad.

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Bitcoin miners provide “flexible load” only if they are paid extortionate rates to do so. Last year Riot Platforms made a lot more money <not> mining than they could have by mining Bitcoin in the summer. https://fortune.com/2022/08/13/riot-blockchain-bitcoin-mining-texas-electric-grid-subsidy/amp/ They normally also pay just 2.5 cents per kWh. https://twitter.com/nsmolenski/status/1641089234940358658

Natalie Smolenski @NSmolenski

The enemies of #bitcoin in Texas are also introducing legislation.

TX Senate Bill 1751 seeks to:

1) Prohibit ERCOT from compensating #bitcoin miners for shutting down during demand spikes

2) Ban tax abatements for miners in Texas b/c “mining is already https://cbsaustin.com/news/local/texas-senate-bill-seeks-to-regulate-bitcoin-miners-and-their-electricity-consumption-riot-platforms-ercot-rockdale… https://twitter.com/i/web/status/1641089234940358658

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Digiconomist @DigiEconomist

The carbon footprint of a single Bitcoin transaction easily exceeds the per passenger carbon footprint of a direct flight from New York to London.

On top of that the average e-waste generation per Bitcoin transaction is also equivalent to throwing away an iPad.

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; Digiconomist @DigiEconomist ·

5h 1641135952339795972

The average Texan still pays ~6 times more, but it’s never enough for this parasitic and wasteful industry.

Everybody else ends up paying the price for the promises that are never delivered on https://www.financialexpress.com/business/blockchain-kentucky-to-investigate-contracts-providing-discounted-electricity-prices-to-cryptocurrency-miners-2902599/lite/

Local Texans Lay Into Bitcoin Miners Exploiting Energy Woes

“Don’t piss on our boots and tell us it’s raining.”

www.thedailybeast.com

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; Digiconomist @DigiEconomist ·

5h 1641135949361840144

Bitcoin miners provide “flexible load” only if they are paid extortionate rates to do so. Last year Riot Platforms made a lot more money <not> mining than they could have by mining Bitcoin in the summer. https://fortune.com/2022/08/13/riot-blockchain-bitcoin-mining-texas-electric-grid-subsidy/amp/ They normally also pay just 2.5 cents per kWh.

Natalie Smolenski @NSmolenski

The enemies of #bitcoin in Texas are also introducing legislation.

TX Senate Bill 1751 seeks to:

1) Prohibit ERCOT from compensating #bitcoin miners for shutting down during demand spikes

2) Ban tax abatements for miners in Texas b/c “mining is already https://cbsaustin.com/news/local/texas-senate-bill-seeks-to-regulate-bitcoin-miners-and-their-electricity-consumption-riot-platforms-ercot-rockdale… https://twitter.com/i/web/status/1641089234940358658

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28 Mar 1640840157304635392

Bitcoin’s environmental impact is on the rise again as the BTC price has been moving up. Per my own estimates Bitcoin is now responsible for consuming as much electricity as half of global data centers combined. Cambridge even puts it at the same level as country like Argentina… https://twitter.com/i/web/status/1640840157304635392

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