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Author Topic: 2013-06-05 How Green is Bitcoin?  (Read 587 times)
patricktim
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June 07, 2013, 10:58:52 AM
 #1

http://www.coindesk.com/how-green-is-bitcoin/

You, like many others, might be forgiven for assuming that, as a digital currency, Bitcoin is green.  After all, it exists only online.  However, this doesn’t mean it has no impact on the real world.  In fact, Bitcoin mining is said to use over $300,000 worth of electricity per day.

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There are several different types of Bitcoin clients. Header-only clients like Bither trust that the majority of mining power is honest for the purposes of enforcing network rules such as the 21 million BTC limit. Full clients do not trust miners in this way.
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Chet
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June 07, 2013, 11:15:45 AM
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And how much is used to make paper money and coins?
And transport them around in armoured trucks?
And keep the power on in ATM Machines?
and ...

Edit to add: and why quote the cost of electricity in dollars? It comes in lots of flavors.
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June 07, 2013, 11:35:27 AM
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And how much is used to make paper money and coins?
And transport them around in armoured trucks?
And keep the power on in ATM Machines?
and ...

Edit to add: and why quote the cost of electricity in dollars? It comes in lots of flavors.

And to fuel the helicopters that drop money?
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June 07, 2013, 12:51:40 PM
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Looking at this surprising "hit piece" from another angle: "This is a guest post contributed by Mary Ernst." Who is Mary Ernst? (no bio or link offered). Why would she say "I find it hard to hail a currency that requires intensive energy usage (which will only grow as the problems get harder) as the ‘currency of the future’" in the site that calls itself "the voice of digital currency"?

The facts of the issue have been probed at bitcointalk for weeks, ever since the Bloomberg hit piece in April. As previous posters suggest, consensus is that BTC is hugely more green than the infrastructure for fiat.

Assuming this was written for some purpose, is the takeaway supposed to be "it's bad, very bad" or "it's bad but it's not as bad as Bloomberg claimed in April" or "it's not bad at all"? Nowhere does it say "it's not nearly as bad as fiat", which seems closest to the truth.

For me the interesting bit is the motivations - the calculus behind  any such pieces. Who stands to gain? Who stands to lose?

And, once more, who is Mary Ernst, or rather which Mary Ernst wrote the piece (and why)? Anybody know?

http://www.linkedin.com/pub/dir/Mary/Ernst
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