[cstreit]

Originally Posted by Wayne 962

Even more disturbing than this potential Bitcoin waste of time, is this study that seems to imply that all of this Bitcoin mining takes up enough energy to power seven nuclear power plants: https://www.engadget.com/it-takes-an-estimated-seven-nuclear-plants-to-power-our-bitcoin-mining-212441059.html

What a freakin waste if that report is true.

-Wayne

This most likely is true. It’s inherent to the design where the more Bitcoin is found, the harder it is to mine. This essentially creates a self limiting supply because at some point it’s unprofitable to create more... ...the only thing that balances this is improved technology that is more efficient.

If you saw the vast server farms in China that use rivers to cool them and built next to power plants that charge $0.01 per kWh, it’s easy to see. Once a year these farms dump their outdated technology on the market and refresh to stay ahead.