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Lagarde (WTO) Says Cryptocurrency Mining Is Consuming Too Much Power

This is the best tl;dr I could make, original reduced by 28%. (I'm a bot)
Mining cryptocurrencies is far too energy intensive and is consuming as much electricity as a G-20 economy, International Monetary Fund Managing Director Christine Lagarde said.
"The Bitcoins mining, which is this accelerated and augmented use of computers to actually determine the value and incentive the functioning of the mechanism, is energy angry," Lagarde said in Bloomberg TV interview with Francine Lacqua and Tom Keene at the World Economic Forum's annual meeting in Davos, Switzerland.
The electricity needed by the global network of computers running the blockchain technology behind Bitcoin has more than tripled in the last year to more than 37 gigawatt-hours a day, according to Bloomberg New Energy Finance.
Bitcoin Power Consumption Cryptocurrency's power needs have tripled and hit a record 43 GWh in December.
The amount of electricity needed to mine Bitcoins could fall if there are improvements in computing technology.
"In times of climate change and when we look at how much coal is being used in some Chinese provinces to actually mine Bitcoin it's a big concern," Lagarde said.
Summary Source | FAQ | Feedback | Top keywords: mine#1 Bitcoin#2 energy#3 electricity#4 much#5
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Cryptocurrency Mining Is Consuming Too Much Power

This is the best tl;dr I could make, original reduced by 28%. (I'm a bot)
Mining cryptocurrencies is far too energy intensive and is consuming as much electricity as a G-20 economy, International Monetary Fund Managing Director Christine Lagarde said.
"The Bitcoins mining, which is this accelerated and augmented use of computers to actually determine the value and incentive the functioning of the mechanism, is energy angry," Lagarde said in Bloomberg TV interview with Francine Lacqua and Tom Keene at the World Economic Forum's annual meeting in Davos, Switzerland.
The electricity needed by the global network of computers running the blockchain technology behind Bitcoin has more than tripled in the last year to more than 37 gigawatt-hours a day, according to Bloomberg New Energy Finance.
Bitcoin Power Consumption Cryptocurrency's power needs have tripled and hit a record 43 GWh in December.
The amount of electricity needed to mine Bitcoins could fall if there are improvements in computing technology.
"In times of climate change and when we look at how much coal is being used in some Chinese provinces to actually mine Bitcoin it's a big concern," Lagarde said.
Summary Source | FAQ | Feedback | Top keywords: mine#1 Bitcoin#2 energy#3 electricity#4 much#5
Post found in /Amd, /worldnews, /JustBadNews and /CryptoCurrency.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

HOW TO MINE BITCOIN CASH (BCH) WITH CGMINER AMD AND NVIDIA GPU Mining Bitcoin Laptop AMD A8 quad core What to Mine with AMD GPU's!!! - YouTube How to mine BitCoal? Bitcoin mining with 2 amd 7770's - YouTube

However, Bitcoin/Litecoin is almost impossible to mine for the average user. It requires expensive equipment called ASICs that are made by a controversial, centralized company called Bitmain. These ASIC chips consume high amounts of electricity, and ASIC mining farms often use cheap & ecologically-destructive coal power. These centralized mining cartels mint the vast majority of new Bitcoin ... Mining is a crucial part of the Bitcoin network. But to most Bitcoin holders it’s a relatively mysterious business. Mining is where Bitcoin connects the internet to the real world. A lot of… The carbon footprint of Bitcoin is real, but the hysterical proclamations that it’s using more energy than certain countries are both overblown and leave out important factors. The environmental concerns about Bitcoin have led to the creation of several alternative algorithms, including proof-of-stake, which will be adopted by Ethereum in part due to the ecological concerns that mining presents. There are two ways by which you can mine Bitcoin Diamond: utilizing the cloud mining method or making use of a mining pool. For the purposes of this guide, we will be using a mining pool. To mine Bitcoin Diamond (BCD), you will need: A mining rig/contract; A wallet to store and manage your funds; A miner that is compatible with the X13-BCD algorithm ; An uninterrupted power supply; Mining Rig ... This particular issue is the power used to mine Bitcoin and to conduct transactions. Alarmists worry that the environment is doomed as coal is one of the primary power sources behind Bitcoin. I’m Just a Coal Miner’s Cryptocurrency. The angst concerning coal being a major component of Bitcoin’s rise is a real one. The majority of Bitcoin ...

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HOW TO MINE BITCOIN CASH (BCH) WITH CGMINER AMD AND NVIDIA GPU

196 Mhash/s per 7770, about 400 combined. Overclock settings are: Power Limit: -2 Core Clock: 1149 Memory Clock: 654 Fan: 100% Brief introduction video on how to mine BitCoal for those of you who might struggle with the setup. For BitCoal mining use you need to access following link in order to download wallet : https ... In this video we'll go over mining Bitcoin LE with you GPU. Pool URL https://honorpool.org/ NVIDIA Miner: https://github.com/honorpool/ccminer/releases AMD M... Earn free 0.1 bitcoin/days: http://linkshrink.net/7g6U2O Trust site earn free Bitcoin. Live withdraw satoshi direct wallet video ini berisi cara atau tutorial mining bitcoin cash di suprnova.cc dengan menggunakan amd dan nvidia card 1. ...

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