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Author Topic: Economists say each BTC transaction causes 272g of waste  (Read 376 times)
franky1
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September 20, 2021, 11:18:38 PM
 #41

many false assumptions

first. asics dont process transactions.
asics have no hard drives and no matter if a block is empty or full the asics job is the same

secondly
yep. devs can remove the cludgy stifling code that limits transaction count tomorrow. and asics would be unaffected. if average transaction count went to 4k or even 10k (physically possible with 4mb 'weight')
that can instantly mess with the analysts numbers. without touching a single extra asic

thirdly.
doing some actual maths based on the s19pro and average hashrate of 135exa for the time period=1.2mill asics at 15.8kg each with 136million transactions performed in last 1.3 years

the assumption at real data is actually 142g.. so they are doing a 2x multiplier to make things sound 2x worse. even when they cant even understand there is no correlation between transaction count vs asic count

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
JollyGood (OP)
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September 20, 2021, 11:23:08 PM
 #42

The BBC news website is mentioning the 272g e-waste too, they are quoting Alex de Vries and Christian Stoll: https://www.bbc.co.uk/news/technology-58572385

Some parts of the media are not putting Bitcoin in a good light to those that might be interested in getting involved with crypto.

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o_e_l_e_o
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September 21, 2021, 09:19:59 AM
 #43

Some parts of the media are not putting Bitcoin in a good light to those that might be interested in getting involved with crypto.
Of course not. The media, banks, Wall Street, etc., are all owned by people who have little to gain and a lot to lose from bitcoin's growing dominance. They will never portray it in a good light.

Reporting stuff like this without any investigation is pretty poor journalism, though. You expect it from all the trash that passes as crypto "news" sites, but you expect better from corporations like the BBC. It is an article funded by a bank and based on assumptions with no hard data. It is the equivalent of Philip Morris funding a study saying that if you smoke you look 30% cooler.
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September 21, 2021, 10:44:31 AM
 #44

In fairness to the media they went in to overdrive against the bankers when the financial world came crashing down in 2008 resulting in Lehman Brothers collapsing. There was a clear and open anti-financial institute agenda all over the media but sadly it did not last long enough. A stunning £90 billion worth of value in listed UK companies was lost in one day during the height of the collapse and the UK bailout to its banks was around £500 billion from tax payers money which included buying a huge stake in RBS which they sold later.

We hardly ever see or read anything in the media nowadays about exactly what happened in previous crashes that were attributed to the recklessness of the banking sector.

Keeping that aside, you are spot on about the Bitcoin article in The Guardian, it is poor journalism in general but any large media corporation such as athe BBC news should know better than to regurgitate the same highly debatable information.


Some parts of the media are not putting Bitcoin in a good light to those that might be interested in getting involved with crypto.
Of course not. The media, banks, Wall Street, etc., are all owned by people who have little to gain and a lot to lose from bitcoin's growing dominance. They will never portray it in a good light.

Reporting stuff like this without any investigation is pretty poor journalism, though. You expect it from all the trash that passes as crypto "news" sites, but you expect better from corporations like the BBC. It is an article funded by a bank and based on assumptions with no hard data. It is the equivalent of Philip Morris funding a study saying that if you smoke you look 30% cooler.

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September 21, 2021, 04:27:38 PM
Merited by pooya87 (2)
 #45

Of course not. The media, banks, Wall Street, etc., are all owned by people who have little to gain and a lot to lose from bitcoin's growing dominance. They will never portray it in a good light.

Reporting stuff like this without any investigation is pretty poor journalism, though. You expect it from all the trash that passes as crypto "news" sites, but you expect better from corporations like the BBC. It is an article funded by a bank and based on assumptions with no hard data. It is the equivalent of Philip Morris funding a study saying that if you smoke you look 30% cooler.

They will, when their bosses or people who pay them their salaries finally get behind Bitcoin,,, and I say finally because there is no other option but to accept. You can fight it but you cannot win something that cannot be killed.

We only have to look and ask JP Morgan bank employees or even Nasdaq how quickly things changed and how they also had to change their tune Smiley

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