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Why bitcoin makes use of a lot power | CNBC Explains



In mid-Could 2021, billionaire Elon Musk despatched a tweet that crashed the cryptocurrency market. The Tesla CEO introduced the electrical automobile firm would now not settle for bitcoin for purchases resulting from its large power consumption. So why does crypto-mining use a lot electrical energy, and is there a sustainable various? CNBC’s Nessa Anwar is joined by Ryan Browne to elucidate.

Contents of this video:
0:00 – Intro
0:34 – What makes crypto completely different?
1:19 – Why was crypto-mining launched?
1:49 – How does crypto-mining work?
2:19 – The massive downside with crypto-mining
3:23 – How a lot power does Bitcoin use?
4:17 – Is it simply Bitcoin with these points?
4:35 – Bitcoin’s largest mining international locations
5:04 – Bitcoin blackouts
5:20 – Governments hit again at miners
5:46 – The advantages of crypto
6:00 – Crypto vs on-line banking
6:55 – Ethereum’s plan to decrease power use
7:40 – Is crypto-mining price it?

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19 Comments

  1. What would happen if all those computers and servers doing all that mining got wiped out by an asteroid or volcano or nuclear bomb or tsunami?
    Anything important or practical or relevant to the real physical world? (FYI: I am a mathematician and math is the real abstract world. But, math is proving theorems. Not pointless repetitive calculations.) What would Bitcoin be worth then?

  2. I'M NEW TO BTC AND I'VE BEEN MAKING LOSSES TRYING TO MAKE PROFIT MYSELF IN TRADING…I THOUGHT TRADING DEMO ACCOUNT IS JUST LIKE TRADING THE REAL MARKET… CAN ANYONE HELP ME OUT OR AT LEAST ADVISE ME ON WHAT TO DO?

  3. This video is just a repeat of other videos in the many past.. i want to know the truth about u.s pipeline hacker, how the u.s manage to hack the hackers account and get back the money they pay in bitcoin. I thought u cant hack bitcoin so how come?

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