Thread: Bitcoin and crypto

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  1. #21  
    Senior Member DJ Meyer's Avatar
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    Quote Originally Posted by Karim D. Ghantous View Post
    Everything has environmental impact. The question: is it worth worrying about? The answer is no. Bitcoin uses less electricity than the banking industry:

    https://bitcoinmagazine.com/business...banking-energy

    Not that it matters.
    Bitcoin Magazine says Bitcoin is good! News at 11

    How many transactions does Bitcoin process given its energy footprint? Unless it's more energy efficient per transaction than traditional banking, its a net negative from an environmental standpoint.
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  2. #22  
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    Quote Originally Posted by Jacek Zakowicz View Post
    That's my question: how can it be anonymous and "open ledger" at the same time? it makes no sense...
    You can't be bothered clicking on links hey ?

    There's a public ledger but YOU can only check a specific transaction that YOU have the key to do so with. In other words, a transaction that YOU are party to in some way. YOU spend it or received it. And it's still anonymous. It's one time for only that transactions that the keys exist to verify the transaction and the identify is still masked. And the coins aren't able to be linked to any prior transactions. That means it's fully "fungible", unlike say Bitcoin.

    Here's yet another link for you to not read.

    https://www.bitdegree.org/crypto/monero

    JB
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  3. #23  
    Senior Member Karim D. Ghantous's Avatar
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    Quote Originally Posted by DJ Meyer View Post
    Bitcoin Magazine says Bitcoin is good! News at 11
    Genetic fallacy.

    Quote Originally Posted by DJ Meyer View Post
    How many transactions does Bitcoin process given its energy footprint? Unless it's more energy efficient per transaction than traditional banking, its a net negative from an environmental standpoint.
    It uses less electricity overall than all the banks combined. The most efficient crypto per transaction is HBAR, followed I think by XRP. HBAR is apparently more efficient than even Visa or Mastercard.
    Good production values may not be noticed. Bad production values will be.
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  4. #24  
    Senior Member DJ Meyer's Avatar
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    Quote Originally Posted by Karim D. Ghantous View Post


    It uses less electricity overall than all the banks combined.
    Maybe so, but that wasn’t the question.
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  5. #25  
    Senior Member Dominik Muench's Avatar
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    Quote Originally Posted by DJ Meyer View Post
    Bitcoin Magazine says Bitcoin is good! News at 11

    How many transactions does Bitcoin process given its energy footprint? Unless it's more energy efficient per transaction than traditional banking, its a net negative from an environmental standpoint.

    one Bitcoin transaction is the equivalent, in terms of electrical energy, to the power consumption of an average U.S. household over 39.67 days.
    https://youmatter.world/en/bitcoin-b...onment-impact/

    its considerable.
    Dr. Dominik Münch D.O.C.A
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  6. #26  
    Senior Member Michael Hastings's Avatar
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    Quote Originally Posted by John Brawley View Post
    ....snip
    Here's yet another link for you to not read.

    https://www.bitdegree.org/crypto/monero

    JB
    I enjoy your sense of humor

    I've not invested in Bitcoin (worried that we are getting to "greater fool territory") so Monero seems like it is in an early enough stage that it may be set for big growth -so how do yo invest in monero?.

    OTOH not sure cryptocurrency is a particularly good thing given the ease of doing ransomware attacks as it seems not only Russian or state sponsored or bad actors can pull it off - but any decent hacker could ransomware smaller businesses - hospitals, law firms, etc. small manufacturers, etc. that may not be able to either protect themselves or be too small get the FBI interested in chasing them down. Seems that anyone with the technical savvy of a typical Reduser could bounce around various small businesses, find one with poor protection, break-in, lock files and ransomware say $40-50K with little to no risk to themselves. And it won't be long before that becomes quite common with tens of thousands per year.

    In the early 2000s I turned over an HD Hitachi box camera that I bought on Ebay to the FBI when realized it had been stolen from NASA. FBI agent came out to pick it up, gave me a carbon copy receipt and never heard of it again - probably sitting on a shelf somewhere. But the FBI guy told me that there official guidelines were to not pursue any thefts less than $10,000 but there actual practical guideline was not to pursue any less than $100K (only bothered with that camera because it came from NASA KSC) so I doubt if they will bother trying to track the sub $100K ransoms.
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  7. #27  
    Senior Member Jacek Zakowicz's Avatar
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    Quote Originally Posted by John Brawley View Post
    You can't be bothered clicking on links hey ?

    There's a public ledger but YOU can only check a specific transaction that YOU have the key to do so with. In other words, a transaction that YOU are party to in some way. YOU spend it or received it. And it's still anonymous. It's one time for only that transactions that the keys exist to verify the transaction and the identify is still masked. And the coins aren't able to be linked to any prior transactions. That means it's fully "fungible", unlike say Bitcoin.

    Here's yet another link for you to not read.

    https://www.bitdegree.org/crypto/monero

    JB
    well that does not make sense either- if you are planning to buy (not part of any transaction) and want to check the legitimacy of the seller or the coin- you can't . how does that help? Sorry that does not make sense for any reasonable mind... If you already completed the transaction why do you need to check it?- it's done and dusted- water under that bridge, spoiled milk etc, etc... there are other issues- too much of it in too few hands which invites value manipulation as already very much realized, government involvement with taxes which (lack there off) originally was the core of alternative currency and its appeal, and probably few other issues I don't know about...
    Jacek Zakowicz, Optitek-dot-org, jacek2@optitek.org
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  8. #28  
    Senior Member Karim D. Ghantous's Avatar
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    Quote Originally Posted by Jacek Zakowicz View Post
    If you already completed the transaction why do you need to check it?-
    It's like a credit card statement, only that it is immutable as far as the security of the blockchain allows. The key is that it's decentralised and permissionless.
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  9. #29  
    Quote Originally Posted by DJ Meyer View Post
    Consuming hundreds of terawatts of power and continually driving ever-increasing production and disposal for all related electronics components has no environmental impact?
    After Elon's tweets lots of people started thinking about BTC's impact on ecology. I doubt that Elon didn't know about that "impact" before buying BTC :) so much hypocritical of him :( better follow this blog https://libertex.com
    Last edited by Thomas Bratuate; 09-02-2021 at 02:53 PM.
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  10. #30  
    Senior Member rand thompson's Avatar
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    The Coppolas Are Bringing Blockchain to Hollywood


    By Nofilmschool


    Article
    https://nofilmschool.com/blockchain-coppolas


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