Dogecoin etc
Re: Dogecoin etc
I'm not sure if you're seeing a different tweet to what I posted? That is about the technical deficiency in using blockchain for a transaction.
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Re: Dogecoin etc
I knew women shopping was a good thingSundayjumper wrote: ↑Thu Jun 09, 2022 10:15 am Bitcoin will be $250k soon:
https://dailyhodl.com/2022/05/27/billio ... -timeline/
Re: Dogecoin etc
You have to wonder how many people are seriously crying at the moment
Re: Dogecoin etc
Where does that figure come from ?
2500kw a second is 3,600,000 kw a day.
That’s 300 x 12MW of our largest engines running 100% load, which is a ludicrous amount of money.
Also is Bitcoin very slow for transactions, other crypto can be near enough instant?
Dave!
2500kw a second is 3,600,000 kw a day.
That’s 300 x 12MW of our largest engines running 100% load, which is a ludicrous amount of money.
Also is Bitcoin very slow for transactions, other crypto can be near enough instant?
Dave!
Re: Dogecoin etc
Dave, you work in power and have your units wrong. So forgive me not having a clue what you are on about.
The tweet says 2500kWh for a transaction, which takes about 10 minutes. That’ll be an average based on the amount of power being consumed across Bitcoin servers I assume.
Re: Dogecoin etc
I really don’t understand how this works. Let’s say I transfer 1 pence worth of Bitcoin from one account to another account. Would that really be 2500kw? If we get people en mass to do this would the entire system crumble due to the massive electricity cost?
There’s no transaction fees so whose paying for it?
The energy intensive servers are just mining new coins rather than being used for transactions?
There’s no transaction fees so whose paying for it?
The energy intensive servers are just mining new coins rather than being used for transactions?
How about not having a sig at all?
Re: Dogecoin etc
Fairly obviously it’s the total power required to run Bitcoin averaged over transaction numbers and time. That’s a fair calculation since if Bitcoin isn’t used for transactions it has zero purpose.
Re: Dogecoin etc
So at this point Bitcoin is like buying an EV which requires 80,000 miles to break even with a petrol equivalent. But the harm is done as it’s been mined already so you just need transactions to ramp up to reduce the overall cost.
How about not having a sig at all?
Re: Dogecoin etc
Is this the right thread for an argument? It’s £295 per hour for me to argue.
Re: Dogecoin etc
It says 2500kwh per second and that it can handle 7 per second in theory, but also says it takes 10 minutes to complete, which makes no sense at all ?Jobbo wrote: ↑Sat Jun 11, 2022 4:13 pmDave, you work in power and have your units wrong. So forgive me not having a clue what you are on about.
The tweet says 2500kWh for a transaction, which takes about 10 minutes. That’ll be an average based on the amount of power being consumed across Bitcoin servers I assume.
Dave!
Re: Dogecoin etc
Anyway who is buying this almighty dip ??
Re: Dogecoin etc
I'm still not convinced the dip has finished...
Re: Dogecoin etc
And that's why I'm not a millionaire
Re: Dogecoin etc
I’m gonna set a limit buy at $10k BTC