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Thread: OT: An unintended cpnsequence of Bitcoin and similar uses of Blockchain.

  1. #1
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    Default OT: An unintended cpnsequence of Bitcoin and similar uses of Blockchain.

    1601

    Keep eye on ball.
    Hashim Khan

  2. #2
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    What a bunch of Hog wash.
    < Humanity is decades behind schedule on counteracting climate change, >
    If that is an example of the validity of the rest of the diatribe, "Fergetit" :-)
    ...lew...

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    Be sure to read the comments. The author is very confused about bitcoin.

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    Quote Originally Posted by Bob Engelhardt View Post
    Be sure to read the comments. The author is very confused about bitcoin.
    That's about what I thought, it seemed as if he is a few decimal points off.

    However, when NK does the nuke over Oklahoma next year, yer bitcoin won't work anymore
    1601

    Keep eye on ball.
    Hashim Khan

  5. #5
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    neither is cash or visa!. Better get gold.

  6. #6
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    The bitcoin article in Wikipedia says energy is about 3.4 GW, whereas the Grist article states 31 TeraWatt-hours per year (8760 hours). That works out to be an average of 85 GW, or 25 times that claimed by the Wiki. The more reasonable amount is still rather impressive but not quite so alarming. At 10 cents per kw-hour, it is about 2.978 Billion dollars.

  7. #7
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    Clearly a scam put on by Tesla to sell more solar panel shingles.
    Andy

  8. #8

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    Quote Originally Posted by J Tiers View Post

    However, when NK does the nuke over Oklahoma next year, yer bitcoin won't work anymore
    Now wait a minute. If his inertial guidance system is only as good as his rockets they might miss Oklahoma and you know who's just over close to us.

    It reminds me of something I heard years ago about the rivalry between Georgia and Armenia. Supposedly there were a bunch of jokes all starting with someone writing in a question to Radio Yerevan which it answers on the air.

    So Radio Yerevan is asked, "What is the most beautiful, historic city in the Soviet Union?"

    Radio Yerevan replies, "Yerevan is a VERY, beautiful, historic city."

    Radio Yerevan is asked, "How many nuclear weapons would it take to destroy Yerevan?"



    Radio Yerevan replies, "Tblisi is also a very beautiful, historic city."
    .
    "I am often asked how radio works. Well, you see, wire telegraphy is like a very long cat. You yank his tail in New York and he meows in Los Angeles. Do you understand this? Now, radio is exactly the same, except that there is no cat." : Albert Einstein

  9. #9
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    Quote Originally Posted by TGTool View Post
    Now wait a minute. If his inertial guidance system is only as good as his rockets they might miss Oklahoma and you know who's just over close to us.

    ...."
    I was thinking of the EMP aspect.... not a ground burst, but at altitude. EMP to take out some of the electric grid.
    1601

    Keep eye on ball.
    Hashim Khan

  10. #10
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    I have never seen a clear, concise explanation of what bitcoin is. It seems to be based on nothing other than a bunch of people saying that it exists. If a record of your bitcoin account is on enough hard drives (or is it cloud files now) then you are assumed to have that amount of bitcoin. No metal. No paper. Just computer records. And we are to assume that the hackers are not working on scamming this? Apparently there is a "mining" procedure for creating more of it, assuredly in your bitcoin account.

    Just where do you go to convert bitcoin to actual currency? Or to gold or silver? Is there any real bank that will give you dollars, yen, marks, pounds, euros, or some other hard currency for bitcoin? Is there a special bitcoin bank? Where? How about those companies with the endless TV commercials for gold or silver? Will they accept payment in bitcoin? And do I still get free shipping?

    I suspect that bitcoin is going to burst one of these days and all these bit-millionaires will be left with nothing. Except for the very few who started this BS and who have been taking the real value out of it in dollars or other hard currency all along.
    Paul A.

    Make it fit.
    You can't win and there is a penalty for trying!

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