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CBDCs are coming - soon!
There is however so much more to crypto than BT C and finance.
Blockchain technology is being developed and used in so many industries - supply chain is a perfect example.
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"Crypto / blockchain is incredibly secure and safe. Trading crypto currency on exchanges, and the use of DeFi (where this 600 million security breach has happened) is not safe. " It isn’t safety that is the problem - it is the energy wasted producing them. Compared to other reductions that require great effort to create, switching off bitcoin would be easy. | |||
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"Crypto / blockchain is incredibly secure and safe. Trading crypto currency on exchanges, and the use of DeFi (where this 600 million security breach has happened) is not safe. It isn’t safety that is the problem - it is the energy wasted producing them. Compared to other reductions that require great effort to create, switching off bitcoin would be easy." Harvard Business Review, "How much energy does Bitcoin Actually consume" is worth a ready. | |||
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"Crypto / blockchain is incredibly secure and safe. Trading crypto currency on exchanges, and the use of DeFi (where this 600 million security breach has happened) is not safe. It isn’t safety that is the problem - it is the energy wasted producing them. Compared to other reductions that require great effort to create, switching off bitcoin would be easy. Harvard Business Review, "How much energy does Bitcoin Actually consume" is worth a ready." Other sources also available… “The most reputable such estimate comes from the University of Cambridge Bitcoin Electricity Consumption Index, according to which the global bitcoin network currently consumes about 80 terawatt-hours of electricity annually, roughly equal to the annual output of 23 coal-fired power plants, or close to what is consumed by the nation of Finland.” Bitcoin uses energy we would not otherwise need to produce. Simple fact. | |||
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"Crypto / blockchain is incredibly secure and safe. Trading crypto currency on exchanges, and the use of DeFi (where this 600 million security breach has happened) is not safe. It isn’t safety that is the problem - it is the energy wasted producing them. Compared to other reductions that require great effort to create, switching off bitcoin would be easy. Harvard Business Review, "How much energy does Bitcoin Actually consume" is worth a ready. Other sources also available… “The most reputable such estimate comes from the University of Cambridge Bitcoin Electricity Consumption Index, according to which the global bitcoin network currently consumes about 80 terawatt-hours of electricity annually, roughly equal to the annual output of 23 coal-fired power plants, or close to what is consumed by the nation of Finland.” Bitcoin uses energy we would not otherwise need to produce. Simple fact." That's a well-known statistic. There are others equally as horrific! However, "Energy Consumption Is Not Equivalent to Carbon Emissions" | |||
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"Crypto / blockchain is incredibly secure and safe. Trading crypto currency on exchanges, and the use of DeFi (where this 600 million security breach has happened) is not safe. It isn’t safety that is the problem - it is the energy wasted producing them. Compared to other reductions that require great effort to create, switching off bitcoin would be easy. Harvard Business Review, "How much energy does Bitcoin Actually consume" is worth a ready. Other sources also available… “The most reputable such estimate comes from the University of Cambridge Bitcoin Electricity Consumption Index, according to which the global bitcoin network currently consumes about 80 terawatt-hours of electricity annually, roughly equal to the annual output of 23 coal-fired power plants, or close to what is consumed by the nation of Finland.” Bitcoin uses energy we would not otherwise need to produce. Simple fact. That's a well-known statistic. There are others equally as horrific! However, "Energy Consumption Is Not Equivalent to Carbon Emissions" " It is. If you generate energy and use it for Bitcoin, then you have to generate other energy for other uses. Whether it uses hydro, wind, solar or wave, it displaces other uses and therefore increases Climate change. | |||
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"I have a feeling that very soon, without realising it, everyone will rely upon and use technology built on blockchain systems. " I agree. The tech is pretty useful from what I can tell. That said, not sure that means BTC is the future. It feels like the MySpace that leads to Facebook. | |||
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"There are blockchain systems and there are blockchain systems. It is not an inherently high power consumption concept, the problem is that Bitcoin (and others derived from the same computer code base) is an inherently wasteful implementation. Other types of blockchain based ledger keeping (which is all that Bitcoin really is, a computer ledger that keeps track of who owns which coin numbers) can achieve completely equivalent results while using only a thousandth or a millionth of the amount of power. Bitcoin got in first, and is like the Wordstar of crypto currencies. Forty years ago Wordstar was the one horse race in word processing; nobody under the age of 50 has even heard of it now. It is inevitable that either Bitcoin will be developed to be better, leaner, faster and more energy efficient - Bitcoin2025 maybe, then five years later Bitcoin2030 and so forth - or it will lose out to newer systems which will outpace it. What is perfectly clear is that the original form of Bitcoin cannot continue, using ever more amounts of energy to achieve less work. " Spot on  | |||
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"I have a feeling that very soon, without realising it, everyone will rely upon and use technology built on blockchain systems. I agree. The tech is pretty useful from what I can tell. That said, not sure that means BTC is the future. It feels like the MySpace that leads to Facebook." VeChain and Hedera | |||
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"I see from the posts, there is a strong feeling that crypto mining is a waste of resources. Whilst the decentralisation of banking is attractive to those who value personal freedom, its just a different system which causes its own set of problems different to the centralised system it wants replace. From seeing the posts, the question should be should we waste what limited resources we have supporting a method which doesn’t benefit the entire population of the world? " This is a key point. The average transaction fee for a Bitcoin transaction is around $5 which is more than the global median daily wage. So it is already self selecting. There are layer 2 solutions like Lightning that basically paper over all the features that originally made Bitcoin interesting and more closely resembles centralised systems like PayPal that we already have in mass usage today. More efficient cryptocurrencies like XRP solved this problem nearly a decade ago. They use virtually no power, cost a thousandth of a cent to transact, take 3 seconds to finalise a transaction, and are more decentralised. But still Bitcoin is the “household name” that people have heard of. -Matt | |||
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"Not sure how you could ban it, given its international. I'd rather we look to regulate it a bit more to protect people (while it's making some peoplw super rich, it will make others poor, especially when leveraged)" Lets not forget some countries are using crypto currency, to get around restrictions that have been issued to them. | |||
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"Not sure how you could ban it, given its international. I'd rather we look to regulate it a bit more to protect people (while it's making some peoplw super rich, it will make others poor, especially when leveraged) Lets not forget some countries are using crypto currency, to get around restrictions that have been issued to them. " El Salvador, Venezuela, Bahamas.
Not being supported by IMF and World Bank, which probably means it’s a good thing for the countries, but bad for those who wish to control them | |||
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(any conspiracy theorists reading the document - yes the work was partly funded by Bill Gates Foundation )
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""Digital Documentation of COVID-19 Certificates: Vaccination Status - Technical specifications and Implementation guidance - 27 August / World Health Organisation" Blockchain based
(any conspiracy theorists reading the document - yes the work was partly funded by Bill Gates Foundation )
"Yes, blockchain is an interesting and useful technology. Undoubtedly going to see more applications as time goes on. Digital currencies are here to stay, but as has been said above they will settle out on the types that are economic in energy terms and allow for rapid high volume transactions. Bitcoin has the advantage of being the name that has popularised the concept, and I'm sure it will survive. But it will actually be bitcoin 2, or bitcoin 3, or bitcoin 2025 - some direct replacement that has continuity of value but fixes the problems. | |||
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"Crypto mining burns energy just like these forum posts or any form of social media." An extremely valid point, both use extreme amounts of energy, one in crypto mining farms, one in over a billion users are using devices which require charging and systems to provide content. Extending the problem, what about video streaming? Maybe there are degrees of usefulness, Should the question change to is crypto mining useful and does it benefit all? Or only a small few. Should there be a ranking of usefulness? Maybe they are all useless, a distration. Maybe some are useful, as they are shaping society, maybe they are all useful. I am sure the people in here could come up with some overall agreement on this. | |||
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"Crypto mining burns energy just like these forum posts or any form of social media. An extremely valid point, both use extreme amounts of energy, one in crypto mining farms, one in over a billion users are using devices which require charging and systems to provide content. Extending the problem, what about video streaming? Maybe there are degrees of usefulness, Should the question change to is crypto mining useful and does it benefit all? Or only a small few. Should there be a ranking of usefulness? Maybe they are all useless, a distration. Maybe some are useful, as they are shaping society, maybe they are all useful. I am sure the people in here could come up with some overall agreement on this." Crypto is all about the blockchain and the energy and users needed to keep it active. the blockchain does and will level the playing field and stop the theft. | |||
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"Crypto mining burns energy just like these forum posts or any form of social media. An extremely valid point, both use extreme amounts of energy, one in crypto mining farms, one in over a billion users are using devices which require charging and systems to provide content. Extending the problem, what about video streaming? Maybe there are degrees of usefulness, Should the question change to is crypto mining useful and does it benefit all? Or only a small few. Should there be a ranking of usefulness? Maybe they are all useless, a distration. Maybe some are useful, as they are shaping society, maybe they are all useful. I am sure the people in here could come up with some overall agreement on this. Crypto is all about the blockchain and the energy and users needed to keep it active. the blockchain does and will level the playing field and stop the theft." But is it levelling the playing field? Or will it just become unbalanced as the system it aims to replace? That is probably the ultimate reality, no matter what system is in place it will eventually become the thing it hated. It just the nature of people I guess. | |||
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"Crypto mining burns energy just like these forum posts or any form of social media. An extremely valid point, both use extreme amounts of energy, one in crypto mining farms, one in over a billion users are using devices which require charging and systems to provide content. Extending the problem, what about video streaming? Maybe there are degrees of usefulness, Should the question change to is crypto mining useful and does it benefit all? Or only a small few. Should there be a ranking of usefulness? Maybe they are all useless, a distration. Maybe some are useful, as they are shaping society, maybe they are all useful. I am sure the people in here could come up with some overall agreement on this. Crypto is all about the blockchain and the energy and users needed to keep it active. the blockchain does and will level the playing field and stop the theft. But is it levelling the playing field? Or will it just become unbalanced as the system it aims to replace? That is probably the ultimate reality, no matter what system is in place it will eventually become the thing it hated. It just the nature of people I guess." No the blockchain can not be f**ked about with it is a permanent open audit and with crypto you miss out the middle men, central banks and government and there is no debt attached to it unlike fiat currencies. | |||
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"Crypto mining burns energy just like these forum posts or any form of social media. An extremely valid point, both use extreme amounts of energy, one in crypto mining farms, one in over a billion users are using devices which require charging and systems to provide content. Extending the problem, what about video streaming? Maybe there are degrees of usefulness, Should the question change to is crypto mining useful and does it benefit all? Or only a small few. Should there be a ranking of usefulness? Maybe they are all useless, a distration. Maybe some are useful, as they are shaping society, maybe they are all useful. I am sure the people in here could come up with some overall agreement on this. Crypto is all about the blockchain and the energy and users needed to keep it active. the blockchain does and will level the playing field and stop the theft. But is it levelling the playing field? Or will it just become unbalanced as the system it aims to replace? That is probably the ultimate reality, no matter what system is in place it will eventually become the thing it hated. It just the nature of people I guess. No the blockchain can not be f**ked about with it is a permanent open audit and with crypto you miss out the middle men, central banks and government and there is no debt attached to it unlike fiat currencies. " That is a true statement, I think everyone is agreement with the openness of the ledger. Putting that aside for a moment, the creation of the currency which is part of the method could be viewed as the potential problem, considering the huge resources required to obtain currency now, it is no longer in reach of the everyman, it has now become the domain of those who can afford to invest in large scale technology to mine these coins. Inevitably whilst its an open book, who will end up with the biggest wallets? Not an ordinary joe, either an early adopter or some later adopter with huge resources. So the idea of freedom could be considered a mirage or a smokescreen to hide an underlying truth, the majoirty will not benefit, as a result we are in the same problem, a small amount hold the proverbial cards, whilst the rest are scratching over the leftovers. I am not advocating either the current system either. I am suggesting that its just human nature to have those at the top and those at the bottom who will invariably become the victims of those who abuse resources which do not provide any tangible benefit to society in general. | |||
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"I hear Rishi has some QNT and XRP Guess which technologies will be used for the digital gbp
CBDCs are coming - soon!
There is however so much more to crypto than BT C and finance.
Blockchain technology is being developed and used in so many industries - supply chain is a perfect example.
"I hope yo in got some QNT as doubled over the weekend... | |||
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"I hear Rishi has some QNT and XRP Guess which technologies will be used for the digital gbp
CBDCs are coming - soon!
There is however so much more to crypto than BT C and finance.
Blockchain technology is being developed and used in so many industries - supply chain is a perfect example.
I hope yo in got some QNT as doubled over the weekend..."I’ve been in for a while - it’s done more than double
VXV is another that is worth following | |||
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"Crypto mining burns energy just like these forum posts or any form of social media. An extremely valid point, both use extreme amounts of energy, one in crypto mining farms, one in over a billion users are using devices which require charging and systems to provide content. Extending the problem, what about video streaming? Maybe there are degrees of usefulness, Should the question change to is crypto mining useful and does it benefit all? Or only a small few. Should there be a ranking of usefulness? Maybe they are all useless, a distration. Maybe some are useful, as they are shaping society, maybe they are all useful. I am sure the people in here could come up with some overall agreement on this. Crypto is all about the blockchain and the energy and users needed to keep it active. the blockchain does and will level the playing field and stop the theft. But is it levelling the playing field? Or will it just become unbalanced as the system it aims to replace? That is probably the ultimate reality, no matter what system is in place it will eventually become the thing it hated. It just the nature of people I guess. No the blockchain can not be f**ked about with it is a permanent open audit and with crypto you miss out the middle men, central banks and government and there is no debt attached to it unlike fiat currencies. " Except the blockchain can and has been fked about with! | |||
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