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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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?
Cryptoloons REFUSE to address this MASSIVE waste of energy and fossil fuels burned JUST to make these POINTLESS calculations.
Elon : bitcoin unefficient, not good
Market : crash
Elon : bitcoin wasn't that bad afterall. Im buying tho
Market : confused screaming
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?
It wasn’t the tweet that crashed the market it was his Saturday night live that crashed it
maybe their responsible for the chip shortage too
Some day bitcoin is gonna be like tulipans in netherlands
That actually cracked me up. CNBC never miss a beat.
The solution…. Mass Electricity thief….. Didnt solve the problem but hey it free energy to support our crypto future
Bitcoin is the future, investing in it now will be the wisest thing to do especially with the current rise in bitcoin
VRAU.bani.mej CHES 990.Milliarde DE EURO VRAU CHES DATA 7.jul.,2021,fa,PACET,NAME.VARGA,SANDOR,ADRESZA:GLORIA:NR;92(LOC:GIROC:JUD;TIMISOARA,,ROMANIA.TEL,,0752621579,
I am really confused
VRAU.bani.mej.ches.999990000000p.billon.2021.jul.3.
When cost soo much energy?…. BECAUSE ITS FUTURE!!!
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?
INVESTING IN CRYPTO NOW SHOULD BE IN EVERY WISE INDIVIDUALS LIST, IN SOME MONTHS TIME YOU'll BE ECSTATIC WITH THE DECISION YOU MADE TODAY
I make huge profits on my investment since i started
trading with Ryan Jeffries her trading strategies are top notch
Before bitcoin, the monitor in this video may fall off the table!!
the Bitcoin network uses 0.5% of global electricity consumption and we are crying about this why??