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Energy Consumption of Bitcoin versus Visa

 
Anonymous Coward
User ID: 78423995
Germany
10/15/2021 10:07 PM
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Energy Consumption of Bitcoin versus Visa
[imgur] [link to imgur.com (secure)]
Anonymous Coward (OP)
User ID: 78423995
Germany
10/15/2021 10:15 PM
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Re: Energy Consumption of Bitcoin versus Visa
Computer Network Time Synchronization: The Network Time Protocol on Earth and in Space, Second Edition, Edition 2

by David L. Mills

Synopsis: Carefully coordinated, reliable, and accurate time synchronization is vital to a wide spectrum of fields—from air and ground traffic control, to buying and selling goods and services, to TV network programming. Ill-gotten time could even lead to the unimaginable and cause DNS caches to expire, leaving the entire Internet to implode on the root servers. Describes the principal components of an NTP client and how it works with redundant servers and diverse network paths Provides an in-depth description of cryptographic and other critical algorithms Presents an overview of the engineering principles guiding network configuration Written by the original developer of the Network Time Protocol (NTP), Computer Network Time Synchronization: The Network Time Protocol on Earth and in Space, Second Edition addresses the technological infrastructure of time dissemination, distribution, and synchronization—specifically the architecture, protocols, and algorithms of the NTP.
Anonymous Coward (OP)
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Germany
10/15/2021 10:19 PM
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Re: Energy Consumption of Bitcoin versus Visa
REDUCE. REUSE. REFRESH. HOW MANY TREES HAVE BEEN SAVED BY ECOMMERCE?


[link to wpengine.com.au (secure)]




While a catalog can fit many items onto one page, a .com catalog would still weigh 15.5 pounds, have 2,824 pages, and contain nearly 300,000 products. Its dimensions would be 11.1 inches high, 9 inches wide, and 6.8 inches deep, and it would take 1.9 percent of a pine tree to make just one catalog.Even more, if you were to calculate the total number of trees saved based on unique visitors, more than 55,000 trees would be needed to give every single visitor their own catalog—nearly 124 acres of pine!
Anonymous Coward
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10/15/2021 10:19 PM
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Re: Energy Consumption of Bitcoin versus Visa
Basically they want people to cut their energy consumption to North Korea standard (2h of electricity monthly!) and use all save energy to run an hungry control system.

Those 60 GHz towers won't fry you without first a blackout.
Anonymous Coward (OP)
User ID: 78423995
Germany
10/15/2021 10:24 PM
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Re: Energy Consumption of Bitcoin versus Visa
Basically they want people to cut their energy consumption to North Korea standard (2h of electricity monthly!) and use all save energy to run an hungry control system.

Those 60 GHz towers won't fry you without first a blackout.
 Quoting: Anonymous Coward 80712177


That's the frequency of short wave radio pirates.
Anonymous Coward
User ID: 80124667
10/15/2021 10:34 PM
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Re: Energy Consumption of Bitcoin versus Visa
 Quoting: Anonymous Coward 78423995


what is XRP? (i know its a coin, why this one?)


what if we had free energy? which coin is most secure?
Anonymous Coward
User ID: 75953087
United States
10/15/2021 10:38 PM
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Re: Energy Consumption of Bitcoin versus Visa
XRP is a fast and cheap transacting Crypto. It does not use proof of work cause it relies on consensus to validate transactions.

It literally takes under 4 seconds to transact and costs fractions of a penny. Unlike bitcoin that takes an hour sometimes or like ETH where the fees are stupid high.
Anonymous Coward
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10/15/2021 10:42 PM
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Re: Energy Consumption of Bitcoin versus Visa
Anonymous Coward
User ID: 80124667
10/15/2021 10:46 PM
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Re: Energy Consumption of Bitcoin versus Visa
XRP is a fast and cheap transacting Crypto. It does not use proof of work cause it relies on consensus to validate transactions.

It literally takes under 4 seconds to transact and costs fractions of a penny. Unlike bitcoin that takes an hour sometimes or like ETH where the fees are stupid high.
 Quoting: Anonymous Coward 75953087




then why did Jack jump on Bitcoin today?

why didn't he correct me with expert ideas?

Square mining Bitcoin seems strange if it sucks.

Are they thinking XRP for consumers and Bitcoin for B2Business and .gov?

Fraud limits on XRP? Buying a car with it? house?
Anonymous Coward
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10/15/2021 10:48 PM
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Re: Energy Consumption of Bitcoin versus Visa
XRP is a fast and cheap transacting Crypto. It does not use proof of work cause it relies on consensus to validate transactions.

It literally takes under 4 seconds to transact and costs fractions of a penny. Unlike bitcoin that takes an hour sometimes or like ETH where the fees are stupid high.
 Quoting: Anonymous Coward 75953087


Yet another Rothschild scam.

So sorry but is no from me
Anonymous Coward
User ID: 80982767
Greece
10/15/2021 10:55 PM
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Re: Energy Consumption of Bitcoin versus Visa
 Quoting: Anonymous Coward 78423995


It doesn't account for the fiat money system as the back-end necessary for VISA to work, while bitcoin is both a transaction system AND the currency. Thus you would have to add government, central bank and commercial bank overhead that are required for VISA to operate. The banks alone consume an enormous amount of energy for their operations, buildings, offices, worker movements, all of which are several classes above bitcoin energy consumption.
Anonymous Coward
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United States
10/15/2021 10:56 PM
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Re: Energy Consumption of Bitcoin versus Visa
They do own some of the Asset via SBI holdings. But they own bitcoin and ETH too.
Anonymous Coward
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10/15/2021 10:57 PM
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Re: Energy Consumption of Bitcoin versus Visa
 Quoting: Anonymous Coward 78423995


It doesn't account for the fiat money system as the back-end necessary for VISA to work, while bitcoin is both a transaction system AND the currency. Thus you would have to add government, central bank and commercial bank overhead that are required for VISA to operate. The banks alone consume an enormous amount of energy for their operations, buildings, offices, worker movements, all of which are several classes above bitcoin energy consumption.
 Quoting: Anonymous Coward 80982767


coins, printed bills, shipping, etc.. gonna close the gap quick.
Anonymous Coward
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10/15/2021 11:02 PM
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Re: Energy Consumption of Bitcoin versus Visa
XRP is a fast and cheap transacting Crypto. It does not use proof of work cause it relies on consensus to validate transactions.

It literally takes under 4 seconds to transact and costs fractions of a penny. Unlike bitcoin that takes an hour sometimes or like ETH where the fees are stupid high.
 Quoting: Anonymous Coward 75953087




then why did Jack jump on Bitcoin today?

why didn't he correct me with expert ideas?

Square mining Bitcoin seems strange if it sucks.

Are they thinking XRP for consumers and Bitcoin for B2Business and .gov?

Fraud limits on XRP? Buying a car with it? house?
 Quoting: Anonymous Coward 80124667





Trump Officials Formally Meet Ripple

[link to www.coinwire.com (secure)]




Ripple revealed in September that it has set aside $25 million to promote different charitable causes.

Johnson also underscores that the company has already devoted almost $100 million to charity. He also states the need for the Blockchain community to play a more active role in terms of philanthropic projects. Johnson adds:

“So corporate philanthropy is more important in society than it used to be. Businesses need to consider responsibilities to society that go beyond paying taxes.”
Anonymous Coward
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10/15/2021 11:02 PM
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Re: Energy Consumption of Bitcoin versus Visa
XRP is a fast and cheap transacting Crypto. It does not use proof of work cause it relies on consensus to validate transactions.

It literally takes under 4 seconds to transact and costs fractions of a penny. Unlike bitcoin that takes an hour sometimes or like ETH where the fees are stupid high.
 Quoting: Anonymous Coward 75953087


XRP has literally zero innovation. It's a centralized coin whose issuer can, and has, issue as many new coins as he wants. Like FED. The novelty of bitcoin is its decentralized nature. Centralized "money" and tokens have been around for forever. Electronically, it's like in-game currencies where the game issues a currency for the players to play with. There's nothing investable there.

All centralized currencies, based on centralized databases or semi-centralized databases, are by definition more efficient transaction systems at the expense of centralization. But again there is no novelty there. It's like banks moving money, or paypal moving money.
Anonymous Coward
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10/15/2021 11:03 PM
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Re: Energy Consumption of Bitcoin versus Visa
Its not Centralized you just repeat what other bitcoin maxi's tell you.
Anonymous Coward
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10/15/2021 11:05 PM
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Re: Energy Consumption of Bitcoin versus Visa
When queried how high in the White House he has been able to speak with, he replies:

“I’m Episcopalian, and the joke is we don’t talk about God or money, but we have lots of both. So we haven’t said who we’ve talked to. But we’re in regular talks throughout Washington, and we meet with regulators as well as politicians. We’ve got a whole team that’s devoted to doing that, not just in the U.S., but worldwide. Our regulatory team, they jump on planes like their pants are on fire.”
Anonymous Coward
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Greece
10/15/2021 11:13 PM
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Re: Energy Consumption of Bitcoin versus Visa
Its not Centralized you just repeat what other bitcoin maxi's tell you.
 Quoting: Anonymous Coward 75953087


Yeah I guess the SEC is among bitcoin maximalists too for noticing that some people made a company, issued tokens and then ...sold them.

The U.S. Securities and Exchange Commission (SEC) initiated legal proceedings against Ripple Labs, CEO Brad Garlinghouse, and co-founder Chris Larsen on December 21, 2020, for allegedly selling unregistered securities. In the lawsuit, the SEC claimed that XRP was a security instead of a commodity, because it was generated and distributed by Ripple Labs in a centralized fashion and was not being adopted by financial institutions for its advertised use cases.[3] The SEC stated that Ripple executives sold 14.6 billion units of XRP for more than $1.38 billion to fund the company’s operations and enrich themselves.
Newandimproved

User ID: 80863141
Canada
10/15/2021 11:14 PM

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Re: Energy Consumption of Bitcoin versus Visa
What do y'all think of the theory that cryptocurrency is part of the great reset in that it will be how people are paid their universal basic income?
Supposedly, it will be connected to people's social credit scores and whether they've been vaxxed or not.
"We must be clear that when it comes to atoms, language can be used only as in poetry."--NIELS BOHR
Anonymous Coward
User ID: 80982767
Greece
10/15/2021 11:20 PM
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Re: Energy Consumption of Bitcoin versus Visa
What do y'all think of the theory that cryptocurrency is part of the great reset in that it will be how people are paid their universal basic income?
Supposedly, it will be connected to people's social credit scores and whether they've been vaxxed or not.
 Quoting: Newandimproved


This is going to be done with the current currencies albeit in a centralized electronic format. Why? Because that's the way they can control the population. You don't comply? You can't buy shit because they close access to your bank account and transactions. Cryptocurrencies are not suitable for this type of control because unlike government money they are permissionless on the way they transact. Governments can block bank wires, SWIFT between countries, cancel your credit cards, freeze your funds because they control a permission-based system. But they are totally useless in controlling the spending of funds from a private key in a blockchain (=permissionless).
Anonymous Coward
User ID: 65611088
United States
10/15/2021 11:23 PM
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Re: Energy Consumption of Bitcoin versus Visa
this threads got some intelligence
Anonymous Coward
User ID: 76722105
United States
10/15/2021 11:29 PM
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Re: Energy Consumption of Bitcoin versus Visa
Ripple Lawsuit: Suspected Conflict of Interest Between SEC and XRP



Empower Oversight founder Jason Foster wrote in his letter to the Chief FOIA officer Olivier Girod, “We write today seeking information regarding the appearance of conflicts of interest by former high-level officials at the SEC relating to cryptocurrencies.”

The firm explained that in a suspicious move “Senior SEC official William Hinman reportedly participated in the SEC’s regulation of cryptocurrencies while receiving millions of dollars from his former employer, the law firm Simpson Thacher.”


[link to coinquora.com (secure)]
Anonymous Coward
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10/15/2021 11:32 PM
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Re: Energy Consumption of Bitcoin versus Visa
[imgur] [link to imgur.com (secure)]
Anonymous Coward
User ID: 80994506
United States
10/15/2021 11:36 PM
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Re: Energy Consumption of Bitcoin versus Visa
Its not Centralized you just repeat what other bitcoin maxi's tell you.
 Quoting: Anonymous Coward 75953087


it has to be to operate that quickly.

it's a semantic argument, sustitute "peer to
peer" for "not cenralized" and see how that goes.
.
Anonymous Coward
User ID: 76722105
United States
10/15/2021 11:42 PM
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Re: Energy Consumption of Bitcoin versus Visa
Its not Centralized you just repeat what other bitcoin maxi's tell you.
 Quoting: Anonymous Coward 75953087


it has to be to operate that quickly.

it's a semantic argument, sustitute "peer to
peer" for "not cenralized" and see how that goes.
.
 Quoting: Anonymous Coward 80994506


Wouldn't you say that Ripple IS the centralisation?






GLP