/biz/ - Business & Finance

will people tell him that Grey Block will double the carbon footprint in a year?

>>16544562
All that power for 4 transactions per second. What a joke

>>16544562
>The UN passes law forbidding anyone to compute a sha-256 hash without a license

lol

>>16544647
You're fucking retarded, it's going into security of the network not throughput

>13 Oct 2018

>>16544662
Not an argument bitcoiner.

>>16544562
>muh carbon

Do retards even know what carbon is? It’s the backbone of all organic molecules and basic life. They are literally taxing all life, but ofc the only animals that pay tax are humans, so they are saying human tax right in front of your face. Also carbon is one of the least global warming contributions to climate change cuz trees at a basic understanding. Assuming their global climate change was real, which is a big assumption, they would tax water or sulphur or even methane, but they’re stupid.

>>16544654
That doesn't make sense

>>16544562
make drugs legal

>>16544695
You must be over 18 to post here

>>16544695
Based schizo

0.5% bullshit

>>16544698
It makes perfect sense, the energy goes into bitcoin is for producing a virtually irreversible timestamp of the ledger, the more energy going into it the harder it is to reverse.

>>16544739
How does a small blocksize make the blockchain more secure you gargantuan nigger faggot? It's the same amount of hash either way just one means more transactions per second

off yourself NIGGER

>>16544744
Lmao you're a bsv cuck are you? Go continue to use your insecure piece of shit bloated blockchain that no one cares about.

>>16544761
You have no idea what you're talking about so you call me a bsv faggot to save face. Typical moron

>>16544767
How does a bigger blocksize with less hash rate make the chain any better? Clearly the market favors small blocks right now. BCH tried raising the block size and lost the hash war, then BSV doubled down on it and still lost. The chain with the highest hash rate wins, end of story.

>>16544695
Climate change agenda is simply Jews finding ways to controlling more resources and siphoning more money out of the goyim population.

If these freaks truly cared about the environment we wouldn’t be getting oil and all our products half way across the world on massive freighters we’d produce locally instead, we’d stop feeding Africans and bringing in the 3rd world to the 1st world that exploit our resources and we wouldn’t have ugly ass concrete jungles that are filled with stupid white collar finance/cubicle desk jobs that don’t really bring any real world value except swindle resources from the host to the parasites.

>>16544812
go outside and have sex

>>16544562
>electricity demand = carbon emissions
this is your brain on climate change activism

>>16544650
imagine cities of chinese kids calculating hashes by abacus and delivering the correct answer by rickshaw

>>16544744
wrong fucktard

>>16544562
You fail to see what 'revelations' will be released. BitCoin is nothing more than the new economy for those who rule the world to gain more control in absolute; BitCoin isn't going anywhere. The amount of energy required to keep BitCoin/the new economy running will serve as the catalyst for the rulers to release 'new technology' that will provide free/clean energy globally - then those who rule the world will also control 100% of energy production in absolute, although this technology has been kept from the public until the tight time to release it.

>>16544654
>security of the network
Wrong. The miners are nothing but signalers for which chain the majority will mine at any given time.

>>16544744
Because he is dumb. He doesn't understand that the end game was always big blocks. Only data centers will be able to handle big blocks and no one will be able to have influence on the chain except for governments and powerful institutions.

>>16544805
>what is the point of a narrative
To keep stupid people confused until they get rekt and then the government can step in to force regulations to solve the 'problem'.

>>16544812
People always think of Nazis, ancient ruins, and flying saucers in the Arctic. It's just a distraction for stupid people. People never come to the conclusion that all the activity and mystery behind what governments are doing in the Arctic is actually just them melting the ice themselves from underneath the surface to cause sea levels to rise and blame it on humans.

>>16544695
Ever heard of a water bill? They already tax it fool.

>>16544942
Has anyone suggested simply becoming a rapist yet

>>16544942

Based

>>16544647
7 txn/second, retarded newfaggot.

>>16544695
Need to meme carbon tax = human tax harder

>>16545001
OH WOW 7 TPS

WELL NEVER MIND THEN GUYS I GUESS BTC ISN'T A COMPLETE SHITCOIN WASTE OF ELECTRICITY

>>16544744
>>16544942
Both of you are idiots, energy usage is directly related to the mining reward schedule and the current price of the coin. He's saying energy usage is unrelated to throughput, because you can infinitely scale the block size for the same amount of proof work.

>>16545048
>you can infinitely scale the block size for the same amount of proof work.
You clearly can't, as it has been done several times, leading to hard forks and the smaller block size winning.

>>16545034
based smoothbrain screamposter

>>16544562
If all banking networks were shut down it would reduce electricity usage by like 20%. So what?

>climate change was invented to stop bitcoin

it all makes sense now. AI is real

Fuck the environment you climate hippie, or tell the gooks and pajeets to stop industrialization. They are the largest contributors to emissions. Fuck off with this shit.

We must embrace NANO
It's not crippled like corecuck coin BTC

>>16544899
Still wrong fucktard

BTC actually is a complete waste of energy. If it was actually used for something besides hodling it might be different, but it literally does 3 tps lmao

>>16546337
this. The definition of cryptography cannot be 'more energy = moar! secure' as claimed above. The inherent fucking waste, as per OP, is both inarguable, and indefensible

>>16544698
Is this serious. .

>>16544744
Yeah has to be bait. Nobody is this dumb.

>>16544942
Larger blocks. More centralization. More centralized = larger attack surface. And you wrote all that for nothing.

>>16546590
>Larger blocks. More centralization
How do people still not understand mining?

>>16546703
He is right, larger blocks mean more centralization , not just due to hardware cost but geographically due to block propagation.

>>16546590
/thread
not this thread, this thread is fucking retarded normies whining about how BUTTCONES only do eleventeen tesseractions per lunar cycle, but some thread just got slashed the fuck up.

>>16546884
lmao what?

Bitcoin is perhaps the greatest force to provide economic incentive to produce green energy production technology. The miners are in a race to obtain the cheapest possible electricity. There is no electricity cheaper than that supplied through renewable technology. They just don't get it.

Eat the bugs and get in the pod goy

>>16546337

>3tps

You need to go back to plebbit

>>16546472

Energy is fundamentally limited resource so it's a perfect tool for measuring security. Go fuck yourself retarded nigger.

>>16547065
heliums pretty limited as well. Why don't we use the rest of that to 'measure security' instead. Ohno, that would be fucking retarded. Like you, you cunt

>>16544562
All banks must die, 10% of the world's electricity demand would simply disappear.

Does he know that fantom will fix all of this?

>>16544744
10/10

>>16544698
if >>16544654 doesn't make sense, you need to read the bitcoin whitepaper

>>16544812
based

>>16544856
kek underrated post

people itt not realizing that a single transaction has multiple inputs and outputs & clients batch them together for efficiency.

>>16547041 gets it.

>>16545034
no its not lightning will handle the micropayments

>>16545034
that's more than VISA

>>16547041
bang on

>>16547041
classic propaganda and cope spread by corecucks. bitcoin is anything but "green", market efficiency will choose PoS as a superior product in the upcoming years, while BTC will become very unpopular due to the egregious
ongoing waste.

>>16548102
>PoS as a superior product
pos consumes less energy but it's not more efficient also has inherent problems that simply don't exist with pow.

having minority hash pow coins is retarded tho. bitcoin will remain pow but everything else needs to fuck off and do some other pos/poa shit.

>>16548114
BTC has failed as a currency and is garbage for a store of value. There is nothing left but retards and gamblers who believe this project has a future

>>16548133
>BTC has failed
how many times i have heard this the past 8 years... btc has never failed. you are just a brainlet and think it does something else than it actually does. and oh boy does it beautifully.

>>16548144
>zero global adoption
>REMOVED from many places as a payment option
>wastes enormous amounts of electricity
>extremely slow transactions
>handful of projects being technically superior in every way possible
It's no longer 2015 anymore, bro. The dream died when BTC dropped 5-6k in one day

>>16544562
It's proof of work, not proof of onions. Get over it

>>16548177
your little poo poo hole hurt much?

>>16548177
>extremely slow transactions
it's like you never banked before... i find bitcoin a thousand times better and a hell of a lot cheaper for transfers than bank wires or any money wire service.

shit is awesome and the best thing about it the gubment can't just freeze my bitcorns like they can my accounts. they can confiscate all my real estate accounts and securities. they can never take my corn.

it's private ownership that was never possible before bitcoin.

all this bullshit people try to make bitcoin or other crypto do is not the value proposition of bitcoin it's not the real value in the blockchain.

>>16544562
All these people talking about saving electricity and reducing emission have no idea how electricity is created and distributed.
They are just to stupid to understand whole electricity grid.
They probably don't even have idea about other energy sources than coal.
Coal = black, black = bad - that's the primary image they have in their minds.
Classical sheep.

>>16548237
yeah many "green" solutions turned out to be extremely dirty at cause additional in-proportionate ecological harm just not always at the given location where it's set up.

>>16548177
>extremely slow transactions
faster than VISA

>>16548246
i dont care about niggers and chinks
leave green energy alone

>>16548237
>they are just to stupid to understand whole electricity grid.
THIS, very based post, its one of the reason we have street lights, these power plant put out a pretty constant flow of electric & can't be altered that much. During the day businesses use the electric, at night we have street lights.

Anyone against PoW is low IQ

>>16548235
>shit is awesome and the best thing about it the gubment can't just freeze my bitcorns like they can my accounts. they can confiscate all my real estate accounts and securities. they can never take my corn.

>it's private ownership that was never possible before bitcoin.

THIS
THIS
THIS

There is a reason why btc failed to upgrade the blocks above the max 4mb with segwit , it found it's place as a paralel wire system that is competing with swift or sepa due to the reasons anon has mentioned above.

And before someone says muh excuse , i may remind that the average bitcoin transaction is of 55k us dollars.

Serious money is being moved here because the "legal" wire system have become so overregulated that even the paypal cfo got his bank account blocked without reason.

>>16544562
Relinquish your goods and rights to service for the environment, citizen. Think about all the CO2 emissions you are causing.
DO NOT LOOK INTO FINANCIAL EMANCIPATION
THIS IS FOR THE GOOD OF THE ENVIRONMENT
DO NOT BRING UP THE PRIVATE BANKING SYSTEM'S EMISSIONS
GET BACK IN LINE, CITIZEN

wat do ?

>>16544562
you can't kill what's already dead

>>16544562
doesn't matter, holding pegnet.

i've never understood why proof of stake isn't considered infinitely superior, i mean doesn't it instantly fix this significant problem?

>>16548905
Because with proof of stake coins lack a base price.
Pow coins go up because miners won't sell bellow electric costs and as the network grows in hashrate those electric cost grow.

Pos coins tend to be shitcoin ponzi schemes so it's not as used.
ETH is interesting because if they go pos they will go pos after they had a long pow period so they will avoid the ponzi scheme crap altogether and become the first sucessfull pos coin.

>>16544562
ETH will take it all with PoS

>>16546703
Over 50% of btc mining power comes from communist chinks and main github contributors are paid blockstream workers funded by some bank. I say btc is pretty centralized already despite smaller blocks.

>>16549739
>Over 50% of btc mining power comes from communist chinks
a direct result of being reliant on power cost to produce Bitcoin

It's almost like the governments of the world have a vested interest in getting rid of bitcoin and they're using climate change to push it because it's a current hot topic issue...

Thinkingemoji.gifpeg

>>16544698
Maybe for a brainlet

>>16544562
Lmao, they're pretending to have actual metrics for the ratio of power consumption to temperature increase now? Nice that they make it "this century" so that basically no one living today will be able to confirm whether the projection was correct or not.

>>16549028
>proof of stake coins lack a base price.
>Pow coins go up because miners won't sell bellow electric
Demand is what drives price. Cost of production determines viability. You fucking moron.

I didnt even read everything here but.

Small blocks:

Everyone can set up a node at home on a small single board computer easily. Which would be used to inspect bad miner behavior and which would benefit the anonymization.

For example when someone sends a transaction if majority of the nodes are in some harmful guy's hands then that harmful guy's chance of detecting which IP sent that transaction increases.

Electricity cost:

It makes adversaries' job harder to reverse a block. Simply the adversary would need at least %51 of hashrate. It is pretty hard for an individual to get that much power. Also the adversary also would need to have the majority of the nodes to make this attack happen.

>>16544856
>imagine cities of chinese kids calculating hashes by abacus and delivering the correct answer by rickshaw
Fucking kek.

>>16544812
correct and any opposition is bluepilled

>>16550246
Electric cost determine supply in btc if miners go negative they won't sell until price rises