How cryptocurrency will change the world

ponder said:
No mention of global energy consumption or carbon footprint.

https://digiconomist.net/bitcoin-energy-consumption
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https://www.extremetech.com/extreme/259882-bitcoin-mining-now-uses-power-159-countries
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Only, majority of mining farms, who mine the majority of btc, are using off-grid unused hydroelectric plants rented to miners leaving little to no carbon footprint. Even those that are on grid are using hydroelectric... 'reports and studies' can convert usage to coal and put up big co2 usage signs all they like, but fact is, they don't use much at all


Edit: actually, seems those ongrid will be moving offgrid soon too... which I doubt will be a problem, plenty of white elephant hydro staions there with owners begging for anyone to use them to get a little of their investments back

https://cryptovest.com/news/china-bitcoin-mining-losing-access-to-hydroelectric-power/
 
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Thought I was gonna read about how cryptocurrency will change the world.
 
Temujin said:
Only, majority of mining farms, who mine the majority of btc, are using off-grid unused hydroelectric plants rented to miners leaving little to no carbon footprint. Even those that are on grid are using hydroelectric... 'reports and studies' can convert usage to coal and put up big co2 usage signs all they like, but fact is, they don't use much at all


Edit: actually, seems those ongrid will be moving offgrid soon too... which I doubt will be a problem, plenty of white elephant hydro staions there with owners begging for anyone to use them to get a little of their investments back

https://cryptovest.com/news/china-bitcoin-mining-losing-access-to-hydroelectric-power/
Click to expand...

From what I've read the majority of miners are based in china and getting power from coal fired plants these days. Will have to find the source.
 
ponder said:
From what I've read the majority of miners are based in china and getting power from coal fired plants these days. Will have to find the source.
Click to expand...

One coal one that comes to mind that I recall is the one of the large bitmain farms, they basically bought an entire ghost coal mining town(from back when all the coal mines closed in china) and have been using that... but again, even though its one of the biggest, its only a few % of chinas total btc output, most are all scattered through mountain sides in the middle of nowhere along rivers all the way to tibet renting the hydro plants the independent power guys set up in the early to mid 2000's when china believed the economy would explode and need all the extra power, needless to say, it didn't, so none were connected to grid and those investors now make their money back through miners. I'm sure there are others using coal, but chinas on a huge push to renewables, so only a matter of time before its all hydro/solar/wind... which is good for us too, they're building all the factories(as always) so within the next decade or so, cost of solar setups are going to plummet

Edit: Should add 'To the best of my knowledge', feel free to correct me
 
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