Post
Topic
Board Bitcoin Discussion
Re: Starting a new Bitcoin Documentary ** Exploring the massive amounts of power..
by
stompix
on 09/05/2022, 03:34:15 UTC
The facts remain.
You can generate unlimited bitcoin wallets (bank accounts) without ever needing to be connected to the internet. People can send funds to these generated addresses if shared by you while you still don't need to be connected ever - obviously THEY do.

So, my mailbox saves tons of thousands of tons of CO2, because once I've put it there is no need for me to do anything while receiving mail and packages and ransom letters  Grin Seriously, this is just stupid, if you think you're helping bitcoin this way you're actually doing worse, you're just showing you have o clue how things work.

In order for somebody to send you coins, they don't only need their won electricity but nodes and miners need to relay and confirm your transaction, and that takes electricity, the more gear is mining the more secure the network is, and the less they do the weaker it is, there is no escaping from this thing. And good luck with your solar panels, wonder why no large farm is doing the same, there must be a trick somewhere!

Compare this to banks having to maintain your account with them on centralized services. Needing to login, etc.

Ok, let's compare it
Galaxy Digital (which is pro-Bitcoin) estimated the consumption of banks  at 263 TWh
Bitcoin Mining council estimated the bitcoin mining consumption at   247 TWh.

Quite close, isnt it?  Wink