Bitcoin cost of production sinks to $13,000, says JPMorgan

[fps4ever]

This is the deepest, most thought out and knowledgeable answer I've ever seen in my life

Thanks, I was trying to sum up my thoughts in just a few words about a true believer. Always fun to converse with one who quotes right from the miners handbook of excuses. You know the type that have to reply/argue every negative little thing posted about mining/crypto in a thread. Just like they are personal insults that can't be ignored. I especially like the math used to explain away why mining doesn't waste electricity and is actually beneficial to the power grid lol. That is one of my favorites!

 

[Endymio]

crypto is using more power than a small country. FULL STOP.

Video gaming is using more power than a small country. Let's ban it as well.

Also, I hope all the people who are wasting resources on this garbage all get cancer and die along with crypto.

Do you play video games?

 

[NightAntilli]

Thanks, I was trying to sum up my thoughts in just a few words about a true believer. Always fun to converse with one who quotes right from the miners handbook of excuses. You know the type that have to reply/argue every negative little thing posted about mining/crypto in a thread.

Crypto has real issues. The environment is not one of them, aside from climate virtue signalers that don't actually care at all about the environment. If you game and you complain about miners, you are applying double standards and you can't actually claim to care about the environment.

Just like they are personal insults that can't be ignored. I especially like the math used to explain away why mining doesn't waste electricity and is actually beneficial to the power grid lol. That is one of my favorites!

I have not thrown any personal insults. If someone claims that water is dry, calling that person ignorant is not an insult.

Go look up how much power is lost simply during transfer, and refer back to the percentage of power used that I posted earlier with sources. That you currently can't understand how this works doesn't mean that it's stupid.

 

[NightAntilli]

This is the perfect Twitter thread explaining Bitcoin power and energy, how mining can be used to improve operations in practice. Only for the ones actually interested in learning;

https://threadreaderapp.com/thread/1548550264218583040.html

Cost of Bitcoin production is a valuable metric, because the safety of the network and the distribution of Bitcoin is dependent on this metric.

 

[fps4ever]

It looks like the additional mining power needed is a good thing excuses/fabrications are coming to an end.

https://arstechnica.com/tech-policy...nergy-bills-skyrocketing-feds-mull-new-rules/