zinzang
do the math research, not the media research
i really have to laugh at the independant newspaper article... how empty of real content
'he said x by 2018'
'he said y by 2020'
final quote
But the future estimate? Thats quite debatable, he said.
it made me laugh
bitcoin mining is not eating past the excess as shown before from actual math. bitcoin is not even 1% of china...
china actually produce 13% excess than demand. so its no where near eating into demand.
buying excess does NOT raise prices of the consumer demand. infact it helps lower prices.
imagine you produce 2000 bananas a day. it costs you $1k to grow that allotment.
but you only sell 1800 ono average. meaning you have to sell each banana for over 55cents
now you know 200 banana are going to waste unpaid for.
but tomorrow a vegetarian group that eats alot of banana wants to buy up your 100 of your excess
yay you are now selling 1900 bananas a day meaning you can sell your bananas at 53cents
as for the production. the asic farms are actually investing in their own power plants too thus wont even touch national/public demand in the future
oh and as for PoS. dont let me bring out the comedy moments of that.
currently because blocks on crap coins are not worth much, people dont care to bother untangling a crapcoin blockchain of PoS
but should something such as bitcoin move to PoS. you will see many people untangle and recombine new higher blockheight of bitcoin data and gain from it.
PoS is not safe, its just evaded attack by how little value can be gained by messing with it because crap coins are crap.
oh as for electric
did you know that cutting down trees to make wood for floorboards. so that wooden desks can sit on the floorboards so that paper can sit on the desks actually causes more environmental damage than a electronic tablet would which can store more pages than the desk and floorboards can
think about it.