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RandySF
Feb 2022
OP
Bitcoin mining is a top 3 energy consumer Texas?! I don't see that in any data
uponit7771
Feb 2022
#3
I'm old...can anybody explain "bitcoin mining" and how it uses energy? Keep it simple, please. nt
albacore
Feb 2022
#4
The 'puters/servers/etc are doing what? Trading? Is there THAT much trading? nt
albacore
Feb 2022
#7
Lovie777
(12,263 posts)1. Yea, but Texas GQP are owning the Libs tho . .. .
I read that Bitcoin is a failure. Ya would think Texas governor would have more "concern" for his people.
Phoenix61
(17,006 posts)2. IMHO, bitcoin is the high-tech version of a pyramid scheme.
There can only be 21m coins and we are at 18.5 what happens when we hit 21m?
uponit7771
(90,339 posts)3. Bitcoin mining is a top 3 energy consumer Texas?! I don't see that in any data
albacore
(2,399 posts)4. I'm old...can anybody explain "bitcoin mining" and how it uses energy? Keep it simple, please. nt
Tommymac
(7,263 posts)6. It uses a computer's power. Many many computers.
Untold numbers of pcs, servers etc. run constantly creating BC. They run 24/7/365.
By itself one server or pc does not use a lot of power. Multiply by huge number and they push up enegy consumption on the grid.
albacore
(2,399 posts)7. The 'puters/servers/etc are doing what? Trading? Is there THAT much trading? nt
Tommymac
(7,263 posts)8. Generating BitCoin.
Each cpu, hard drive is used to generate Bitcoin.
https://www.investopedia.com/terms/b/bitcoin-mining.asp
albacore
(2,399 posts)9. OK... I read it and I think I understand. One more question: WTFF??? nt
Tommymac
(7,263 posts)10. To make coin. If you make you own it. See why it is a ponzi scheme?
Only the founders really make any money. Just like Amway.
PT Barnum is laughing in his grave.
albacore
(2,399 posts)12. So... the Stock Market on meth... with computers....something like that? nt
On Wednesday, ERCOT said they are not asking businesses to shed loads during the potential freeze. Still, energy-guzzling Bitcoin miners have volunteered to power down, according to Lee Bratcher, the Texas Blockchain Council president.
Bratcher said Rhodium, Riot Whinstone, Bitdeer, Computer North and Layer 1 have all powered down to save energy.
One of the largest facilities in North America is Riot Whinstone. It's located in Rockdale, just an hour north of Austin. The facility uses enough power to power a large city.
Bratcher said Rhodium, Riot Whinstone, Bitdeer, Computer North and Layer 1 have all powered down to save energy.
One of the largest facilities in North America is Riot Whinstone. It's located in Rockdale, just an hour north of Austin. The facility uses enough power to power a large city.
https://www.kvue.com/article/weather/winter-storm/texas-bitcoin-miners-power-down/269-78230361-bd1c-4eea-a0d0-93afc3ea8ea9
gratuitous
(82,849 posts)11. Texas has made its choice
Bitcoin is valuable; Texans, not so much. Re-elect Abbott!