Thread: bitcoin
View Single Post
  #1925  
Old 07-12-2017, 04:48 PM
WorthingEagle's Avatar
WorthingEagle WorthingEagle is offline
Watching Paint Dry
 
Join Date: Jun 2001
Location: Worthing
Age: 36
Posts: 5,303
Rep Power: 21474854
WorthingEagle Sam the man is hereWorthingEagle Sam the man is hereWorthingEagle Sam the man is hereWorthingEagle Sam the man is hereWorthingEagle Sam the man is hereWorthingEagle Sam the man is hereWorthingEagle Sam the man is hereWorthingEagle Sam the man is hereWorthingEagle Sam the man is hereWorthingEagle Sam the man is hereWorthingEagle Sam the man is here
It's all a bit silly really, surely the price of one bitcoin is now far exceeding what it costs in computing power to mine one.

All this electricity (only part of which is from sustainable sources) spent on huge mining farms, all to find a hash through bruteforce to record the latest bunch of transactions.

We're basically swapping all our coal, oil and gas for arbitrary numbers in a ledger that have no tangible value. Basically a huge pyramid scheme
Reply With Quote