Did you see the article about Chinese bitcoin factories in Iran?https://thediplomat.com/2021/01/bitcoin-mining-and-blackouts-add-to-anti-chinese-sentiments-in-iran/ …
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Yes! But obviously they were using up excess power so it’s green really...
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I wonder if
@elonmusk will invest in green energy for bitcoin ? -
Ha ha! I was thinking the same thing! Seems slightly contradictory to build green cars to save the planet, whilst at the same time ramping up the mania around Bitcoin...
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How does a currency use electricity?
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It’s the ‘mining’ of it. It involves computers solving very hard, very computationally intensive and useless calculations
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Merci. Twitter en tiendra compte pour améliorer votre fil. SupprimerSupprimer
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So if blockchain usage in general was factored in [rather than just Bitcoin], is it fair to assume Norway would easily be overtaken and they'd be on the way to catching Ukraine?
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I think the total hash rate (proxy for processing power) of BTC is measured in hundreds of millions of TH/s and Etherium, one of the biggest alternatives, has a total hash rate in just hundreds of TH/s. So I doubt other block chains make much difference.
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And this where the truly distributed ledger model doesn’t scale. If trading volume becomes as high as is required to make it more mainstream, the processing will have to become more centralised.
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Could it work more like gold and visa, where you only transact on chain for final settlement?
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