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Title: Money to burn! Post by: (oYo) on December 13, 2014, 02:27:57 PM A Chinese city is burning money for power instead of coal (http://www.telegraph.co.uk/finance/newsbysector/energy/11287488/A-Chinese-city-is-burning-money-for-power-instead-of-coal.html)
The article claims, Quote A power plant in Luoyang City, in the country’s central Henan province, is using old banknotes rather than coal as fuel for its furnaces and to provide power for the region. Quote China is not alone in having money to burn. The Bank of England destroys billions of pounds worth of banknotes every year as they become worn out. Until 1990 all of the notes returned... were incinerated and the energy produced was used to heat the Bank. I thought this article was especially interesting considering Bitcoin mining in stark contrast burns up large amounts of electricity to produce currency. In essence they could be burning paper money to make Bitcoins. :D Title: Re: Money to burn! Post by: Snorek on December 13, 2014, 02:32:26 PM They are burning money? Old banknotes? If they fuel their power plant that way they must have a millions of old banknotes to burn...or even more.
Title: Re: Money to burn! Post by: CoinFriend on December 13, 2014, 05:10:52 PM This theme reminds me of another story. About Euro coins, recycled in China. http://www.dw.de/recycling-criminals-take-bundesbank-for-millions/a-14958011 Title: Re: Money to burn! Post by: Lethn on December 13, 2014, 05:16:36 PM They are burning money? Old banknotes? If they fuel their power plant that way they must have a millions of old banknotes to burn...or even more. This could be their way of dumping the U.S dollar lol :D Title: Re: Money to burn! Post by: CoinFriend on December 13, 2014, 07:29:57 PM They are burning money? Old banknotes? If they fuel their power plant that way they must have a millions of old banknotes to burn...or even more. This could be their way of dumping the U.S dollar lol :D No, in this way they will pump the dollar ::) :D Title: Re: Money to burn! Post by: Lethn on December 13, 2014, 07:38:04 PM They are burning money? Old banknotes? If they fuel their power plant that way they must have a millions of old banknotes to burn...or even more. This could be their way of dumping the U.S dollar lol :D No, in this way they will pump the dollar ::) :D What by them getting free fuel? lol :P |