1/34
@
gerrymcgovern@mastodon.green
Bitcoin is pure, pure evil Bitcoin’s energy use per dollar generated now exceeds that of mining copper or gold Bitcoin mining significantly increases PM2.5 pollution, the tiny airborne particles linked to respiratory and heart disease. Each bitcoin mining rig has a short shelf life of about 1.3 years. Once outdated, they’re dumpedBitcoin mining needs massive water cooling systems
https://gulfnews.com/your-money/cry...t-is-hurting-the-planet-and-farms-1.500299583
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@
gvs@rebelbase.site
Even if that was true, it's our only real way out of the central banking scam that we call money, where inflation is a hidden tax of printing more of that money.
3/34
@
deafboy@akkoma-test.hiwaga.tech
@gerrymcgovern Bitcoin is the most important innovation since the world wide web.
4/34
@
benroyce@mastodon.social
@deafboy @gerrymcgovern *bitcoin is the most important innovation in grifting cult moronsfixed that for you
5/34
@
ChemicalEyeGuy@mstdn.science
@gerrymcgovern “#Bitcoin (and other #crypto currencies) are like rat poison squared.” - Warren Buffett
6/34
@
lopp@lopp.social
@gerrymcgovernShouldn't the resource consumption concern trolls like yourself be more worried about AI farms now?
7/34
@
shsbxheb@mstdn.social
@lopp @gerrymcgovern You sound like you should be on X. Troll.
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@
davecb@hachyderm.io
@gerrymcgovern The article cites
https://agupubs.onlinelibrary.wiley.com/doi/10.1029/2023EF003871 which said"The worldwide bitcoin mining network consumed 173.42 TWh of electricity during the 2020–2021 period, bigger than the electricity consumption of most nations. The mining process emitted over 85.89 Mt of CO2eq in the same timeframe, equivalent to the emission caused by burning 84 billion pounds of coal or running 190 natural gas-fired power plants."
9/34
@
UltrasonicMadness@mastodon.me.uk
@gerrymcgovern I use #Ethereum for this very reason.
10/34
@
Brokar@mastodon.social
@gerrymcgovern I wouldn't be so worried about Bitcoin if that was the only cryptocurrency.But nowadays we have ... i don't know ... hundreds of them?They all need more or less the same infrastructure and they all suck up energy like there's no tomorrow.That's what we're dealing with right now, along with all the datacenters full of millions of AI GPUs.Shut down all the crypto and AI datacenters and we can get rid of fossil fuels for energy production completely right away.
11/34
@
sillyplasm@cyberpunk.lol
@gerrymcgovern I always knew crypto was a massive energy sink. bleugh
12/34
@
GinevraCat@toot.community
@gerrymcgovern 100% evil.
13/34
@
pl@cosocial.ca
@gerrymcgovern now do AI
14/34
@
koteisaev@mastodon.online
@gerrymcgovern >> Bitcoin mining significantly increases PM2.5 pollution, the tiny airborne particles linked to respiratory and heart disease. This is first time I read about anything like this.99.99% of Bitcoin critique I seen so far speak about of being it PoW (proof-of-work) type of crypto - simply speaking, most people concerned about related waste of electricity for "mining" (and sometimes - about water use for cooling).
15/34
@
troed@swecyb.com
@gerrymcgovern "Bitcoin’s energy use per dollar generated"That's a very strange thing to measure though. It's like complaining on our existing financial system - all tellers, ATMs, cash transports etc by commenting on how money is printed by the governments.
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@
the5thColumnist@mstdn.ca
@gerrymcgovern Also considering it does not generate any real value, nothing of value is created just pretend money and environmental harm, although I suppose it does enable a lot of organized crime, so there is that.
17/34
@
lednaBM@stranger.social
@gerrymcgovern Agreed...
18/34
@
JoBlakely@mastodon.social
@gerrymcgovern Crypto & AI need to be completely banned. They were always a weapon made to empoverish, lay siege, surveil, trap, use massive amounts of energy & water, and lay siege and hoard those too. It was always seige warfare & theft & on a scale never seen before. Selling illusions without ever planning on it being sustainable. A smash & grab. They build the facade without a foundation. All its fruits lead to suffering & death. They know & do this on purpose. It’s all grift.
19/34
@
joe@beige.party
@JoBlakely @gerrymcgovern So should social media. We all can waste a ton of energy making things up, and often do. Why are we powering data centers that Russians use to influence elections and giving people places to share links to websites that shouldn't even exist in the first place? There's a million things we could ban, social media is my primary target - look at how useless this is right now.
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@
joeldrapper@ruby.social
@gerrymcgovern it also has no innate value whatsoever. If we decided it wasn’t valuable, it wouldn’t be valuable.
21/34
@gerrymcgovern
@joeldrapper Exactly. It's just pure gambling, greed and criminality. Get rich fast scam on speed.
22/34
@
Itchy@mastodon.sdf.org
@gerrymcgovern and... the post just above yours in my home feed:
23/34
@
Nicovel0@mastodon.social
@Itchy @gerrymcgovern what an achievement, as a species.
24/34
@
AudioTinker@universeodon.com
@gerrymcgovern This and AI is hurting everyone.
25/34
@
synlogic4242@vivaldi.net
@gerrymcgovern yep and its being held up by a speculative bubble driven by scammers and black markets. only slightly more scammy than the AI bubble
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@
thierry_van_kerm@mastodon.social
@gerrymcgovern Bitcoin and AI should be banned. Full stop.
27/34
@
i_give_u_worms@beige.party
@gerrymcgovern that informed from gambling is taxes inappropriately, that overuse of the grid is billed short, this is not a good way to try to generate income while failing to contribute to health insurance burden#CryptoWaste #CryptoScam
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@
chikl@digitalcourage.social
@gerrymcgovern Thanks for sharing this article! What I like to know is how bad is Bitcoin mining for the environment compared to fiat money.Some of the aspects mentioned in the article are probably valid for fiat money as well e.g. when a country uses only fossil energy that in doesn't matter if you use computers for the fiat system or for Bitcoin mining. Same for water usage.But it is crazy that the hardware can only be used for little more than a year. I hope the hardware in the fiat system is used longer but I'm not sure.
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@gerrymcgovern
@chikl Bitcoin is vastly more damaging and polluting that ordinary money:The number of VISA transactions that could be powered by the energy consumed for a single Bitcoin transaction: 742,132The number of VISA transactions with a carbon footprint equal to the footprint of a single Bitcoin transaction: 1,363,557
https://digiconomist.net/bitcoin-energy-consumption
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@
JessTheUnstill@infosec.exchange
It wouldn't surprise me at all if - at the cryptocurrency peak - crypto burns more power than every credit card processor and stock exchange combined.@gerrymcgovern @chikl
31/34
@
JessTheUnstill@infosec.exchange
Which process like 10 billion times more transactions per minute.@gerrymcgovern @chikl
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@
zombywoof@mastodon.org.uk
@gerrymcgovern @chikl #ethereum
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@
samiamsam@mastodon.social
@gerrymcgovern @chikl destroy AIdestroy bitcoindestroy all crypto
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@
stephengentle@ioc.exchange
@chikl @gerrymcgovern It’s difficult to overstate the difference because it’s so vast. It can be literally millions of times worse for cryptocurrency (per transaction). With regular money, two trusted parties (i.e. a bank and another bank) exchange a message and a transaction is recorded in each of their ledgers (i.e. a database on each side). That takes a tiny amount of energy per transaction, and there are mainframe systems that are over 50 years old still doing this. With cryptocurrency, a worldwide network has to do an *ever increasing* amount of useless calculations until one of those trillions of useless calculations performed every second chances on a number that fulfils an arbitrary criteria, letting it verify a block on the blockchain (they also get cryptocurrency as a reward to incentivise this). That alone is terrible for the environment.But the real rub is, if newer cryptocurrency mining hardware comes out that is more energy efficient (which happens pretty continually), miners not only have to upgrade their hardware and trash the old stuff, but they also have to do *at least* as much more work as to make up for all the difference, since everyone else is upgrading too and can do more useless work and have a better chance of wining the block reward. Whereas in traditional finance, if you upgrade your mainframe or servers running core banking, it just gets more efficient because the newer chips use less power.
