Crewton Posted March 17 Share Posted March 17 I found the article below quite interesting. https://www.techopedia.com/bitcoin-mining-and-energy-statistics#:~:text=Based on data provided by,Russia%3A 11.23% I don't think a few microgrids are going to improve the environmental credentials of bitcoin mining anytime soon. David Graham Brown 1 Link to comment Share on other sites More sharing options...
NottsRam77 Posted March 17 Author Share Posted March 17 (edited) 25 minutes ago, Crewton said: I found the article below quite interesting. https://www.techopedia.com/bitcoin-mining-and-energy-statistics#:~:text=Based on data provided by,Russia%3A 11.23% I don't think a few microgrids are going to improve the environmental credentials of bitcoin mining anytime soon. No obviously. but btc is a new technology that most of the world are still discovering or havent even heard about. Its a technology thats still finding its feet, the community is v aware of the environmental aspect / debate hence why theres a real emphasis to make strides to improve. Wish i still had it but i picked up a facinating flying for a bitcoin miner heater. basically it had the same electrical uptake of one of those fancy dyson heater things, all in a nice shiny casing. U run it as u would ur normal dyson heater.. the difference is aswell as heating ur home/ room u were earning as passive income that offset the cost of running the heater thought that was pretty neat. edit: found it https://21energy.com check the table at the bottom … cant not find that an interesting proposition Edited March 17 by NottsRam77 Link to comment Share on other sites More sharing options...
Crewton Posted March 17 Share Posted March 17 22 minutes ago, NottsRam77 said: No obviously. but btc is a new technology that most of the world are still discovering or havent even heard about. Its a technology thats still finding its feet, the community is v aware of the environmental aspect / debate hence why theres a real emphasis to make strides to improve. Wish i still had it but i picked up a facinating flying for a bitcoin miner heater. basically it had the same electrical uptake of one of those fancy dyson heater things, all in a nice shiny casing. U run it as u would ur normal dyson heater.. the difference is aswell as heating ur home/ room u were earning as passive income that offset the cost of running the heater thought that was pretty neat. edit: found it https://21energy.com check the table at the bottom … cant not find that an interesting proposition To paraphrase Mandy Rice-Davies "well they would say that...." I've seen comments saying you'd be better off buying an efficient heater and spending the balance on buying bitcoins. It sounds like a gimmick, but no doubt reputable industry reviews will start to appear that will give an unbiased opinion, though I will say as gambles go, it could be low risk. Link to comment Share on other sites More sharing options...
Comrade 86 Posted March 17 Share Posted March 17 1 hour ago, NottsRam77 said: Maybe re read what im saying? Sadly, I've repeatedly made the mistake of doing just that. And you're no expert, just another shill, parroting what you hear. Stop bragging to everyone who'll listen. It's just tiresome now. As for BTC being the only means to fund the projects you describe, that's utter bolarks and doesn't remotely address the point made to you which was that Bitcoin is energy exhaustive. Deploying grids in sub-Saharan Africa does the square root of f*** all to address that issue, which if YOU COULD READ WAHT FOLK ARE SAYING, was the point they made. No wonder folk are reticent! Link to comment Share on other sites More sharing options...
Comrade 86 Posted March 17 Share Posted March 17 1 hour ago, Crewton said: I found the article below quite interesting. https://www.techopedia.com/bitcoin-mining-and-energy-statistics#:~:text=Based on data provided by,Russia%3A 11.23% I don't think a few microgrids are going to improve the environmental credentials of bitcoin mining anytime soon. The only sensible means to address this is by way of off-setting, but even this is beset with problems, not least of which is the global nature of the project. I'd be happy to pay a levy on my BTC holdings, but it'd need to be prior to any capital gains or other local taxation, for obvious reasons. Crewton 1 Link to comment Share on other sites More sharing options...
NottsRam77 Posted March 17 Author Share Posted March 17 (edited) 1 hour ago, Comrade 86 said: Sadly, I've repeatedly made the mistake of doing just that. And you're no expert, just another shill, parroting what you hear. Stop bragging to everyone who'll listen. It's just tiresome now. As for BTC being the only means to fund the projects you describe, that's utter bolarks and doesn't remotely address the point made to you which was that Bitcoin is energy exhaustive. Deploying grids in sub-Saharan Africa does the square root of f*** all to address that issue, which if YOU COULD READ WAHT FOLK ARE SAYING, was the point they made. No wonder folk are reticent! Ok whatever pal … im not claiming btc is going to carbon neutalise the planet im merely giving interesting examples of what people are looking to do with it.. open peoples eyes and enlighten them i couldnt f*** if no one here bought a single sat.. u think a few quid from derby is going to let me empty my bags.. have a day off will you. i am no expert but im trying to share what knowledge i have to people here so they dont ape in when it starts going up and up and then wander why its going down cos they bought the top and are left with a big loss and bitter experience Or that altcoins are not bitcoin and are not the same thing … and that they stand a good chance of losing all there hard earned money if they buy any old shitcoin cos some dig on twitter says its the next big thing Edited March 17 by NottsRam77 Link to comment Share on other sites More sharing options...
NottsRam77 Posted March 17 Author Share Posted March 17 2 hours ago, Crewton said: To paraphrase Mandy Rice-Davies "well they would say that...." I've seen comments saying you'd be better off buying an efficient heater and spending the balance on buying bitcoins. It sounds like a gimmick, but no doubt reputable industry reviews will start to appear that will give an unbiased opinion, though I will say as gambles go, it could be low risk. Think its just an interesting concept as much as anything… as u say a low risk gamble if anyone was to do it Link to comment Share on other sites More sharing options...
Comrade 86 Posted March 17 Share Posted March 17 54 minutes ago, NottsRam77 said: Ok whatever pal … im not claiming btc is going to carbon neutalise the planet im merely giving interesting examples of what people are looking to do with it.. open peoples eyes and enlighten them i couldnt f*** if no one here bought a single sat.. u think a few quid from derby is going to let me empty my bags.. have a day off will you. i am no expert but im trying to share what knowledge i have to people here so they dont ape in when it starts going up and up and then wander why its going down cos they bought the top and are left with a big loss and bitter experience Or that altcoins are not bitcoin and are not the same thing … and that they stand a good chance of losing all there hard earned money if they buy any old shitcoin cos some dig on twitter says its the next big thing Not me that needs to take a day off, 'pal'. Link to comment Share on other sites More sharing options...
NottsRam77 Posted March 17 Author Share Posted March 17 (edited) Describes a little more eloquently than i can https://www.forbes.com/sites/digital-assets/2023/09/21/why-bitcoin-mining-might-actually-be-great-for-sustainability/ There ya go Stabilizing Power Grids Matching supply with demand is one of the most significant challenges facing power providers. Too much energy production can overwhelm the grid. But so can too much demand. This is where bitcoin comes in. Bitcoin miners can act as an energy sponge, soaking up excess energy when needed to prevent it from overloading the grid. But they can just as easily shut off at a moment’s notice when demand grows too high, as bitcoin miners did during a heat wave in Texas last month. The ability of bitcoin miners to do everything—or nothing—all at once is a boon to power providers. But it can also benefit customers by mitigating demand spikes to help keep prices low. Reducing Methane Emissions Methane is a significant driver of climate change. According to the KPMG report, methane is 80 times more potent than carbon dioxide and is responsible for approximately 30% of global warming. To make matters worse, landfills act as methane mega factories, spewing toxic gas into the air as a byproduct of the decomposition process. So what to do about all this methane? Believe it or not, bitcoin fixes this. Companies are finding ways to capture vented methane on landfills and then turning that methane into electricity. They then use that electricity to mine bitcoin. This practice both reduces carbon emissions and monetizes stranded energy by taking toxic fumes and converting them into digital gold. If the process can be scaled, it could forever change the way landfills operate. Other firms are following a similar model by converting flared gas into electricity to mine bitcoin. Like methane capture, this process harnesses energy that otherwise would have gone to waste. Consider that the potential energy of flared gas in the US and Canada could power the entire bitcoin blockchain, according to Harvard Business Review. Edited March 17 by NottsRam77 cstand 1 Link to comment Share on other sites More sharing options...
cstand Posted March 23 Share Posted March 23 (edited) What is the difference between crypto coins and tokens? Solana has risen about 400 % in the last year mainly because tokens can be easily released by using Solana? I have seen a lot crap about the tokens on Solana which I really want to avoid. https://mashable.com/article/racist-antisemitic-memecoins-solana-blockchain-cryptocurrency Why don’t people create their own crypto coin instead of creating a tokens on Solana? Is this why Bitcoin is different to alt coins apart from proof of stake.? Edited March 23 by cstand Link to comment Share on other sites More sharing options...
NottsRam77 Posted March 23 Author Share Posted March 23 (edited) 2 hours ago, cstand said: What is the difference between crypto coins and tokens? Solana has risen about 400 % in the last year mainly because tokens can be easily released by using Solana? I have seen a lot crap about the tokens on Solana which I really want to avoid. https://mashable.com/article/racist-antisemitic-memecoins-solana-blockchain-cryptocurrency Why don’t people create their own crypto coin instead of creating a tokens on Solana? Is this why Bitcoin is different to alt coins apart from proof of stake.? Great question… will explain in the morning when i havent had a few sherberts to get over todays s*** show im glad you have asked though as this is half the reason i created this topic as i knew there would be people asking this sort of question .. and rightly so as the bull market started… and as fellow rams i dont want to see anyone get burnt by buying into a shitcoin that u may lose everything from will explain in due course Edited March 23 by NottsRam77 cstand 1 Link to comment Share on other sites More sharing options...
NottsRam77 Posted March 24 Author Share Posted March 24 (edited) 11 hours ago, cstand said: What is the difference between crypto coins and tokens? Solana has risen about 400 % in the last year mainly because tokens can be easily released by using Solana? I have seen a lot crap about the tokens on Solana which I really want to avoid. https://mashable.com/article/racist-antisemitic-memecoins-solana-blockchain-cryptocurrency Why don’t people create their own crypto coin instead of creating a tokens on Solana? Is this why Bitcoin is different to alt coins apart from proof of stake.? Ok … here we go.. please remember im saying this in good faith and non of it is meant to sound condescending 👍 If have read any of my previous ramblings. the reason bitcoin is different to every other altcoin is that no one person or entity can control bitcoin. no one can decide to mine more that the current limit of coins per day (900) .. soon to be 450. no one can shut it down, no one can change the rules on how it works it is totally and utterly decentralised. altcoins arent… alt coins are created by individuals, collaborations, companys or anyone who knows how to. they are centralised, they are controlled by said creators. They make the rules, they can change the rules, the can print 1million coins today… then 10 million coins tomorrow. They can tuen their network on, off and shake it all about if they wanted to. examples of these are solana, celo, ethereum, xrp, ada etc etc now within these chains u have developments .. aka meme coins.. that are the s*** of the s***. from experience… i used to mess about on the celo network.. cos it had the same utility as ethereum but its gas fees were buttons.. unlike ethereum. i found with celo loads of “projects” that i could earn 10, 20, 25 and at one point 50% on my stablecoins (usdc, usdt .. stablecoins are a 1-1 representation of a digital dollar). I thought well thats winning .. wont get that in the bank. so i loaded up a load of usdc (celo digital dollar) and went onto a load of these “projects”. sure they paid out… mobius (mob) , immortal (immo) pinniata (pinn) and god knows what else. all these sites had their own tokens which if u held offer u governance on their sites and higher interest rates… so u could vote on the path the project took.. all a big scam. These tokens .. are literally worthless, they are held in their millions by the developers who are sat waiting to dump onto jo public. But they pay influencers to shill their tokens to try and convince people this is the next big thing. fortunately i quickly realised this and got out with my monies in tact. but non of those projects lasted more than a year or so.. and shock horror those developers wrapped it up and moved onto the next “project” .. meme coins are basically scamland.. my advise is to stay well clear. so in summary u have bitcoin altcoins s*** of the s*** meme coin tokens And its up to u how tolerant to risk u are as to where u put ur cash. s*** of the s*** meme coin tokens.. u may as well go down the casino and put ur money on red or black altcoins, some have good utility.. but imo end of the day ur investing in something controlled by someone else. They can print as many coins one day as they want. they could shut it down tomorrow. They could get hacked tomorrow. can u make money from them, yes of course if u buy in at the right time.. i just see them as a risk as theyre controlled by a third party bitcoin is everything these things arnt and is a totally different animal hope this helps a little feel free to ask anything iv missed Edited March 24 by NottsRam77 cstand 1 Link to comment Share on other sites More sharing options...
alram Posted March 24 Share Posted March 24 (edited) may be unpopular amongst some but the reality is they try to overcomplicate with jargon and tedious explanations because if it was all simplified people would see through it and know its all built on a house of cards yes it can generate returns that not many things can so quickly which is its appeal especially for those that dont have time or money for long term investment but there isnt much logic as to why it is a wise investment other than fear of missing out and the main reason its propped up is due to criminal activity and unregulation Edited March 24 by alram GboroRam and Tamworthram 2 Link to comment Share on other sites More sharing options...
NottsRam77 Posted March 24 Author Share Posted March 24 (edited) 2 hours ago, alram said: may be unpopular amongst some but the reality is they try to overcomplicate with jargon and tedious explanations because if it was all simplified people would see through it and know its all built on a house of cards yes it can generate returns that not many things can so quickly which is its appeal especially for those that dont have time or money for long term investment but there isnt much logic as to why it is a wise investment other than fear of missing out and the main reason its propped up is due to criminal activity and unregulation Can i ask are u refering to bitcoin , altcoins/ memecoins/tokens or all of it ? what exactly is complicated about it? ... genuine question 🙂 u know more criminal transactions take place with that thing called cash… and unlike bitcoin isnt traceable or viewable by anyone , at any time from any place on the planet with any device that can connect to the internet Edited March 24 by NottsRam77 Link to comment Share on other sites More sharing options...
cstand Posted April 2 Share Posted April 2 On 24/03/2024 at 08:56, NottsRam77 said: Ok … here we go.. please remember im saying this in good faith and non of it is meant to sound condescending 👍 If have read any of my previous ramblings. the reason bitcoin is different to every other altcoin is that no one person or entity can control bitcoin. no one can decide to mine more that the current limit of coins per day (900) .. soon to be 450. no one can shut it down, no one can change the rules on how it works it is totally and utterly decentralised. altcoins arent… alt coins are created by individuals, collaborations, companys or anyone who knows how to. they are centralised, they are controlled by said creators. They make the rules, they can change the rules, the can print 1million coins today… then 10 million coins tomorrow. They can tuen their network on, off and shake it all about if they wanted to. examples of these are solana, celo, ethereum, xrp, ada etc etc now within these chains u have developments .. aka meme coins.. that are the s*** of the s***. from experience… i used to mess about on the celo network.. cos it had the same utility as ethereum but its gas fees were buttons.. unlike ethereum. i found with celo loads of “projects” that i could earn 10, 20, 25 and at one point 50% on my stablecoins (usdc, usdt .. stablecoins are a 1-1 representation of a digital dollar). I thought well thats winning .. wont get that in the bank. so i loaded up a load of usdc (celo digital dollar) and went onto a load of these “projects”. sure they paid out… mobius (mob) , immortal (immo) pinniata (pinn) and god knows what else. all these sites had their own tokens which if u held offer u governance on their sites and higher interest rates… so u could vote on the path the project took.. all a big scam. These tokens .. are literally worthless, they are held in their millions by the developers who are sat waiting to dump onto jo public. But they pay influencers to shill their tokens to try and convince people this is the next big thing. fortunately i quickly realised this and got out with my monies in tact. but non of those projects lasted more than a year or so.. and shock horror those developers wrapped it up and moved onto the next “project” .. meme coins are basically scamland.. my advise is to stay well clear. so in summary u have bitcoin altcoins s*** of the s*** meme coin tokens And its up to u how tolerant to risk u are as to where u put ur cash. s*** of the s*** meme coin tokens.. u may as well go down the casino and put ur money on red or black altcoins, some have good utility.. but imo end of the day ur investing in something controlled by someone else. They can print as many coins one day as they want. they could shut it down tomorrow. They could get hacked tomorrow. can u make money from them, yes of course if u buy in at the right time.. i just see them as a risk as theyre controlled by a third party bitcoin is everything these things arnt and is a totally different animal hope this helps a little feel free to ask anything iv missed That’s a great reply thanks for the time and effort. Still invested in KR1 who should be invested in quality alt coins they are founders in the crypto space. Its trades at a 30% discount to its NAV What I like about proof of stake is the guaranteed revenue it generates every year. This could become a takeover target in the future as I expect investment companies will eventually want to start this sort of fund. Link to comment Share on other sites More sharing options...
Stive Pesley Posted April 2 Share Posted April 2 (edited) Read an interesting take on the fears that now Blackrock are hoovering up as much BTC as they can, that (based on the way that they operate in every other market) they simply won't stop until they own almost all of it. Leaving the supply and demand of the currency largely in their hands I don't think this is the future that the evangelists hoped for Edited April 2 by Stive Pesley Link to comment Share on other sites More sharing options...
NottsRam77 Posted April 2 Author Share Posted April 2 (edited) 12 hours ago, Stive Pesley said: Read an interesting take on the fears that now Blackrock are hoovering up as much BTC as they can, that (based on the way that they operate in every other market) they simply won't stop until they own almost all of it. Leaving the supply and demand of the currency largely in their hands I don't think this is the future that the evangelists hoped for I think they would do very well to hoover it all up 70% of coins haven't moved in a year and 50% havent in since the last bull run. there are a lot of long term holders that believe it will go to 1million who wont sell just cos it gets to 100k, 200k etc etc. i agree that blackrock are .. well theyre blackrock and your right they are a concern but if they keep buying the price is going to keep going up and up. And remember the amount of coins being minted per day is about to be halved (circa 14 days) .. which on its own has seen exponential growth years gone by. Nevermind when u have some of the biggest hedgfunds in the world hoovering up as much as they can. its going to be an interesting ride lol Edited April 2 by NottsRam77 Stive Pesley 1 Link to comment Share on other sites More sharing options...
NottsRam77 Posted April 2 Author Share Posted April 2 13 hours ago, cstand said: That’s a great reply thanks for the time and effort. Still invested in KR1 who should be invested in quality alt coins they are founders in the crypto space. Its trades at a 30% discount to its NAV What I like about proof of stake is the guaranteed revenue it generates every year. This could become a takeover target in the future as I expect investment companies will eventually want to start this sort of fund. My pleasure any time. tbh im Kinda intrigued about this KR1 thing… i wont lie coming at it as a total skeptic about altcoins im kinda intrigued, i want to be open minded about them .. i know some have good utility.. eth for eg.. i just think theres so many scammy ones our there i stay well clear no matter the price certainly open to hearing about them though Link to comment Share on other sites More sharing options...
NottsRam77 Posted April 7 Author Share Posted April 7 My mate sent me this…. amusing and easy to digest lol Link to comment Share on other sites More sharing options...
Tamworthram Posted April 8 Share Posted April 8 19 hours ago, NottsRam77 said: My mate sent me this…. amusing and easy to digest lol Who sets the puzzles to be solved by the miners and how much time and energy does that take? At a time when climate change is one the biggest threats to humanity in general, who on earth thought it would be a good idea to issue something of value for solving a puzzle (not even creating anything) that uses such vast amounts of energy (until/unless they only use renewable sources)? Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account.
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now