AndyH
Posts: 6341
Joined: Fri Apr 23, 2010 3:43 pm
Location: San Antonio

Re: Cryptocoin?

Mon Dec 04, 2017 11:39 pm

https://www.cbsnews.com/news/winklevoss-twins-become-first-bitcoin-billionaires/

Indeed, bitcoin's growth is extraordinary, with a market capitalization that exceeds $191 billion, according to Coinmarketcap. Among blue-chip stocks now valued less than that are iconic burger chain McDonald's (MCD) at $138 billion), investment bank Morgan Stanley (MS) at $95 billion and retailer Target (TGT) at $34 billion. Bolivia's GDP last year was $79 billion.


What's amazing about this growth is that BTC's still in the inflationary stage as new coins are added to the system with every solved block. We're down to 12.5 BTC per block now after the 3rd halving. Once the entire 210,000,000 coins are released, the deflationary stage begins. There are somewhat educated guesses that the price of 1 BTC could approach $100,000 in 4-6 years. Hang on tight!
"The stupid become extinct."-Bill Mollison
2018 Outlander PHEV
2015 smart Electric Drive "The Bumblebee"
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WetEV
Posts: 1823
Joined: Fri May 04, 2012 8:25 am
Delivery Date: 16 Feb 2014
Location: Near Seattle, WA

Re: Cryptocoin?

Thu Dec 07, 2017 9:24 am

Electricity consumed per transaction (KWh) 250.00


https://digiconomist.net/bitcoin-energy-consumption

Bitcoin has a serious energy transaction cost problem.
WetEV
#49
Most everything around here is wet during the rainy season. And the rainy season is long.
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AndyH
Posts: 6341
Joined: Fri Apr 23, 2010 3:43 pm
Location: San Antonio

Re: Cryptocoin?

Thu Jan 18, 2018 10:28 am

The energy cost for BTC is a result of human greed, not a fundamental energy requirement for crypto. Here are two examples of why it's important to continue to develop and evolve the tech that began with BTC:

https://rmi.org/news/beyond-bitcoin-blockchain-adoption-accelerates-need-manage-energy-climate-emerges/
http://energyweb.org/
This topic has wider relevance. Why? (a) Blockchains are not limited to digital currencies; (b) not all blockchains are created equal (there are many ways to design, govern, and operate a network, including how energy-intensive they are); and (c) Blockchain technology could actually accelerate—not hinder—environmental and energy goals.

At Energy Web Foundation (EWF)—a partnership between Rocky Mountain Institute and Grid Singularity, a blockchain technology developer—we’re building an energy-efficient blockchain to support applications that unlock new opportunities for renewable energy and distributed energy resources. In other words, we’re developing an energy-lean blockchain foundation specifically for the energy industry that can also accelerate grid decarbonization.



https://www.nytimes.com/2017/03/13/business/energy-environment/brooklyn-solar-grid-energy-trading.html
The project is still in its early stages — it has just 50 participants thus far — but its implications could be far reaching. The idea is to create a kind of virtual, peer-to-peer energy trading system built on blockchain, the database technology that underlies cryptocurrencies like Bitcoin.

The ability to complete secure transactions and create a business based on energy sharing would allow participants to bypass the electric company energy supply and ultimately build a microgrid with energy generation and storage components that could function on their own, even during broad power failures.
"The stupid become extinct."-Bill Mollison
2018 Outlander PHEV
2015 smart Electric Drive "The Bumblebee"
OpenEVSE Plus DIY

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