`"Mining" Bitcoin takes more energy than mining gold '

'Independent researchers Max Krause and Thabet Tolaymat calculated that it takes about 17 megajoules of computer power to generate US$1 in Bitcoin, even when the energy used for peripheral activities, such as cooling computers, is not factored in. By comparison, it takes 5 megajoules to mine US$1 in gold and 7 megajoules to mine an equivalent value of platinum. Aluminium-mining energy requirements, at 122 megajoules, topped the researchers' list. Over 30 months from 2016 to 2018, the authors report, Bitcoin mining produced an estimated 3 million to 13 million tonnes of carbon dioxide. That range does not account for mine operation and maintenance; even so, it is roughly equivalent to the range of carbon dioxide produced by about 1 million cars, although it is still less than 0.01% of global emissions.'

http://www.nature.com/articles/d41586-018-07283-3

...so bitcoins are more precious than gold... /s

More expensive than gold, more like.

Originally Posted by frankbell More expensive than gold, more like.

Like how aluminium is more expensive than gold? Something seems a bit off about this metric...

Aluminum is at least tangible and useful.

As P. T. Barnum is reputed to have said, "There's one born every minute."

And if that one has a computer, he or she will mine bitcoins.

(I have read that Napoleon once had a banquet at which the meals were served on aluminum dishes, because, at the time, an economical way of refining bauxite had not yet been developed, so the service was quite ostentatious.)

Originally Posted by ntubski Like how aluminium is more expensive than gold?

Not more expensive, but requiring more energy.

Originally Posted by frankbell Aluminum is at least tangible and useful.

About 5% of gold's value is tangible and useful, in electronics, medicine, teeth...

Originally Posted by frankbell (I have read that Napoleon once had a banquet at which the meals were served on aluminum dishes, because, at the time, an economical way of refining bauxite had not yet been developed, so the service was quite ostentatious.)

Before they figured out to electrolyse bauxite in a bath of molten cryolite alumin(i)um was as expensive as gold.

Thanks a lot for your replies

How is this news ?. For years there have been reports that the energy consumption equals/nears that variously of New Zealand, Chile, Belgium ...

^ the previous poster necrobumped yet another thread with a meaningless post.

- arrgh, sorry I missed that - I hate that ....

^ yep. A tad more moderation would really help with spammers like this one.

Originally Posted by ondoho A tad more moderation would really help with spammers like this one.

What makes it spam? Perhaps that person appreciated the colloquy. I did.

Originally Posted by RandomTroll What makes it spam? Perhaps that person appreciated the colloquy. I did.

Spambots tend to post these kind of vague empty replies that sort of fit anywhere.

Originally Posted by ntubski Spambots tend to post these kind of vague empty replies that sort of fit anywhere.

What does it get them?

Originally Posted by RandomTroll What does it get them?

i think they try to get more traffic to their spam/scam sites.

googles search algorithms raise them higher on search results if their site is linked to popular website.