- Re: In the interest of balance... Archived Message
Posted by Gerard
on February 9, 2019, 10:46 am, in reply to "In the interest of balance..."
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To me Crypto is like the emperor flogging off the clothes he wasn't actually wearing.. "Crypto-currencies are based on similar errors despite the fact that many have been set-up with the best-of-intentions (attempting as they do to ameliorate the consequences of the major-markets "hedging their bets"); however, one cannot sit either on the fence or in/on the hedge forever, as has been proven time and time again throughout human evolution, there comes a time when one must act or one will be swept-away and this is what Nemesis will do with us now if we don't put our house in order. Figures were recently released, quote; "The skyrocketing value of Bitcoin is leading to soaring energy consumption. According to one widely cited website that tracks the subject, the Bitcoin network is consuming power at an annual rate of 32TWh—about as much as Denmark. By the site's calculations, each Bitcoin transaction consumes 250kWh, enough to power homes for nine days. Naturally, this is leading to concerns about sustainability. Eric Holthaus, a writer for Grist, projects that, at current growth rates, the Bitcoin network will "use as much electricity as the entire world does today" by early 2020. "This is an unsustainable trajectory," he writes.".. .."Bitcoin mining—the process that generates new bitcoins while maintaining the network's shared transaction ledger—is a secretive global industry. No one knows exactly how much energy it consumes*. However, we can make some educated guesses. For starters, we know the industry's revenue: Bitcoin miners currently generate 75 bitcoins per hour, which, at the current price of around $12,500 per bitcoin, translates to $937,500 per hour, or more than $8 billion per year. Moreover, the industry is highly competitive, and electricity is one of its biggest costs. So when the price of bitcoins rises, we can expect miners to spend more and more on electricity until electricity costs are roughly on par with revenues." Go to: https://arstechnica.com/tech-policy/2017/12/bitcoins-insane-energy-consumption-explained/ for full article. This may seem insane but the truth is desperate people do desperate things. It has surely been such desperation that has lead to a blind-eye being turned throughout the British media and wider society to the true level of the exposure of our financial system to the Credit Crunch that the LIBOR scandal attempted (and still attempts), to obfuscate. A "paradigm shift" is not just a new experimental method it is a new criteria that suggests the nature of the observations which inform experimentation and therefore must be based on proven theories ("if I hit a watch with this hammer it will break" is not a good theory as the results have been proven many times -and may instead indeed be, "the proof of insanity"-), and this is where Emergence Theory comes in. So far however those scientists studying emergence have not linked the disciplines together to form a "whole picture" but this is what a paradigm shift away from the exploitative model of economics requires, "biodiversity is the engine of sustainability" and its pursuit and protection are antithetical to mono-cultural short-term "quick-fix" profit taking enterprises. "Posturing is the method (or "vehicle"), by which denial transfers the shame that is its genesis."" http://www.arafel.co.uk/2018/03/the-whole-story-epidemiology.html "By their works etc." Max Keiser continually lauds crypto-currency to the detriment of decent economic analysis..if me dears it is the un-sustainability of our current economic structure that should be our primary concern how can a currency based on massive energy use and also utterly dependent on vulnerable technologies for both its production and its transfer possibly be our saviour? Max determinedly refuses to embrace the emergent model of bio-diverse sustainability instead he would rather we put all our eggs in the basket of this mathematical falsehood...Sorry but I'm convinced that algorithmic profiling (based on the neo-con/neo-liberal agenda), standard deviation particle beam analysis, Wi-Fi tech and Bitcoin are all part of the same deal... a candy-wrapped poison of short term fixes and apparent ameliorations full of sound and fury and signifying nothing! |