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Cryptocurrency Highlights Of The Week

Digiconomist September 17, 2016 Other

Bitmain is launching a second Bitcoin mining pool, and Ripple has raised $55 million.

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

; Digiconomist @DigiEconomist ·

4h 1641735789267628033

Thought provoking preprint (not yet passed peer review) on how miners may be driving up electricity costs in Texas. It argues miners are putting the stress where it hurts on an already congested grid (so a relatively small amount of power demand can have big consequences).

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; Digiconomist @DigiEconomist ·

21h 1641470860660731911

Fun fact: the CO2 emissions caused by a Falcon 9 rocket launch are roughly equivalent to the carbon footprint of about 674 Bitcoin transactions. https://twitter.com/digieconomist/status/1640840184555077634

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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 ·

21h 1641470860660731911

Fun fact: the CO2 emissions caused by a Falcon 9 rocket launch are roughly equivalent to the carbon footprint of about 674 Bitcoin transactions.

Twitter feed image.

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.

Reply on Twitter 1641470860660731911 Retweet on Twitter 1641470860660731911 6 Like on Twitter 1641470860660731911 19 Twitter 1641470860660731911

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; Digiconomist @DigiEconomist ·

29 Mar 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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29 Mar 1641179792509739008

https://twitter.com/digieconomist/status/1640840184555077634

Twitter feed image.

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.

Reply on Twitter 1641179792509739008 Retweet on Twitter 1641179792509739008 5 Like on Twitter 1641179792509739008 26 Twitter 1641179792509739008

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29 Mar 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. 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

Reply on Twitter 1641135949361840144 Retweet on Twitter 1641135949361840144 5 Like on Twitter 1641135949361840144 10 Twitter 1641135949361840144

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