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A comment on PayPal Bids $500M to Acquire Crypto Startup Curv. Parent comment

Re:PayPal Bids $500M to Acquire Crypto Startup Curv by blacksmith_tb on Wednesday March 03, 2021 @01:17PM (#26332322)
I don't see anything above like a statement that Bitcoin will "destroy the planet". But the claim that its comparatively large energy footprint contributes to that destruction seems perfectly reasonable - the common comparison is that Bitcoin currently "uses more electricity than Argentina"[1]. Not surprisingly lots of mining is colocated with hydropower or geothermal power generation, but mainly because that's cheaper - I could imagine the power demands for mining reaching a level where they'd underwrite solar or wind farms (apparently we aren't there yet...), or just become economically unfeasible altogether.

1: https://www.bbc.com/news/technology-56012952

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Re:PayPal Bids $500M to Acquire Crypto Startup Curv by G3rn0ti on Wednesday March 03, 2021 @02:02PM (#26332860)
> Not surprisingly lots of mining is colocated with hydropower

And, hence, miners’ energy use does not correlate to their carbon footprint directly. That’s often overlooked.

Furthermore, there is a strong economic incentive for Bitcoin miners to save energy to stay more competitive. Bitcoin mining is done on specialized hardware (ASICs), nowadays, and these devices will get more efficient since the market is still in its infancy.

BTW: What do you think is the carbon footprint of Netflix, YouTube or Pornhub? And what’s their economic utility? If we start critizing IT projects for their energy usage, I don’t think Bitcoin & Co are the biggest culprits.

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Re:PayPal Bids $500M to Acquire Crypto Startup Curv by berenza on Wednesday March 03, 2021 @02:11PM (#26332960)
bitcoin mining does not need grid power, just internet connection. you can set up a mine in the middle of the desert, or in antarctica, and it works just fine. if grid energy gets expensive enough, a lot of things will become unfeasible but bitcoin won't be one of them.
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Re:PayPal Bids $500M to Acquire Crypto Startup Curv by jki275 on Thursday March 04, 2021 @02:34PM (#26347084)
You still have to have a ton of power. You won't generate all that outside of a power grid unless you own your own hydro dams or something.
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