Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[philipma1957]

Intel Launches New Bitcoin Mining Chips Focused on Sustainability

That doesn't make sense. If efficient chips are cheap, miners will just buy more of them and consume more energy.
If the chips are expensive, I bet producing them costs a lot of energy. One way or another, the sum of money spent on hardware and electricity will depend on how much money there is to be made mining.

Going from 27.5 or 31 J/TH to 26 J/TH doesn't really do much for sustainability anyway.

It is a closed-loop, energy-conserved system. If Intel releases mining chips that are more efficient (i.e., consume less energy per terahash) than conventional chips, miners will simply buy more such chips to make use of the resulting energy surplus. Difficulty will increase, reaching a new equilibrium, where the total energy used will get back to where it was before Intel's chips. The only way to limit energy usage is by legislation, i.e. somehow making it illegal to exceed an upper energy threshold when mining Bitcoin, effectively putting a cap on Bitcoin's price. As long as miners are allowed to use all energy available to them for mining, they will (and Bitcoin's price will increase accordingly). Whether that energy is powering GPUs or ASICs is irrelevant.

The reason Bitcoin mining uses more energy now than 10 years ago is not because of ASICs or new technology. It's simply because 10 years ago miners didn't care so much about Bitcoin and thus did not want to use a lot of energy. That's why price was so low then and is so high now. The more energy the network uses, the higher Bitcoin's value becomes. Limiting energy used for mining is equivalent to limiting Bitcoin price from increasing.

It's called Proof of Work for a reason. It's all about energy transfer. Electrical energy to "monetary" energy (value), and, according to the 1st law of thermodynamics, energy is conserved. Limit one, and you limit the other.

yep pretty close to exactly correct.

and the deviation from you description says that governments are supposed to do is not tax mining profits from solar powered mining.  thus creating a huge amount of solar which is green.

stills fits your description and ends up with a world filled with solar. from 40 lat north to 40 lat south.

but with oil interests abounding and actually owning most of the solar patterns it is not going to happen.

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[ChartBuddy]

Explanation

[Arriemoller]

About Tjernobyl, even if beta particles are mostly harmless and can't penetrate your skin, they can give you burnt skin if they are attatched to, lets say, dirt that you get on your skin when digging, it dissapears when you wash of the dirt, but soldiers in a foxhole does nor have that luxury.

I use Swedish spelling of Russian names, I have no idea how them english spells these names.

If you want to get a look on the oficcial Russian propaganda and mindset vs Ukraine you can read this. https://twitter.com/sumlenny/status/1510910740261134338

"Russian state-owned propaganda outlet RIA published the new programmatic article with the title "What Russia must do with Ukraine". The article reveals a detailed plan for a genocide, starting from full elimination of Ukrainian state. Details below."

No wonder the Ukrainians fight so hard.

[ChartBuddy]

Explanation

[JayJuanGee]

I like both models but S2F seems disrupted due to covid.

This. And China, imo.

King daddy (including the S2F model) gives less than two shits about covid or about china..

Fuck that shit. (I am speaking on behalf of King daddy.. #justsaying).

I like both models but S2F seems disrupted due to covid. derivative and naked shorting fuckery

FTFY

S2F is not significantly or materially disrupted, yet..

Sure S2F might be delayed or it might need to be adjusted.. but it is not disrupted.


#justsaying


Sorry for your loss...

Good luck with your lack of financially and/or psychologically preparing ur lil selfies for bitcoin.. UPpity..

[shahzadafzal]

For those who want green bitcoin only.

“Norwegian #Bitcoin is super green.
100% of the country's energy supply comes from wind and hydropower.”

https://cointelegraph.com/news/green-oasis-for-bitcoin-mining-norway-has-almost-1-of-global-btc-hash-rate

[HI-TEC99]

For those who want green bitcoin only.

“Norwegian #Bitcoin is super green.
100% of the country's energy supply comes from wind and hydropower.”

https://cointelegraph.com/news/green-oasis-for-bitcoin-mining-norway-has-almost-1-of-global-btc-hash-rate

That's news to me. I've heard of the Norwegian blue, but not the Norwegian green.

[Hueristic]

S2F is not significantly or materially disrupted, yet..

Sure S2F might be delayed or it might need to be adjusted.. but it is not disrupted.


#justsaying

delayed or adjusted  == disrupted.

[Torque]

Bitcoin hashrate hits an ATH, waayyy above its 2021 rate, and nobody in the community talks about it, MSM is quiet.

So typical. I guess only the price matters.

When moon, precious?

[ChartBuddy]

Explanation

[JayJuanGee]

I bet if you could bottle the energy that will be poured into attacking Bitcoin on behalf of  "the environment" you could most likely run the network for years.

We (meaning you) might have to come up with a metric for this idea....

hahahahahahaha

For example:

>>>>>For every x worth of energy spent upon FUDding bitcoin, 10x bitcoin hashpower could have been produced from such bitcoin FUDding energies.<<<<

 

[Richy_T]

stills fits your description and ends up with a world filled with solar. from 40 lat north to 40 lat south.

You know, the big problem with orbital solar is getting the energy down to earth safely. That's not an issue with Bitcoin mining.

[savetherainforest]

For those who want green bitcoin only.

“Norwegian #Bitcoin is super green.
100% of the country's energy supply comes from wind and hydropower.”

https://cointelegraph.com/news/green-oasis-for-bitcoin-mining-norway-has-almost-1-of-global-btc-hash-rate

That's news to me. I've heard of the Norwegian blue, but not the Norwegian green.

People just need to learn how to make solar panels at home, there are tutorials on youtube. The way to do this is to lift the burden from the big energy producers and make prices dirt cheap and everyone complains less. As long as they have something to call up the shots with, then it does not make anyone free.    

[ChartBuddy]

Explanation

[Toxic2040]

the evening wall report


dyor


bright eyes



D

stronghands

[jojo69]

stills fits your description and ends up with a world filled with solar. from 40 lat north to 40 lat south.

You know, the big problem with orbital solar is getting the energy down to earth safely. That's not an issue with Bitcoin mining.

[ChartBuddy]

Explanation

[cAPSLOCK]

S2F is not significantly or materially disrupted, yet..

I have found myself rooting for it just for this reason.  I LOVE how everyone nearly has just written it off.

But I still think it breaks to the upside too...

[ChartBuddy]

Explanation

[Toxic2040]