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Author: PucksFool ⎊🐝  😊 😞
Number: of 48467 
Subject: Crypto question: Who pays?
Date: 12/28/2024 7:06 AM
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I've read that crypto currencies require massive amounts of electricity. The coins have to be "mined" and solving the pointless problems to mine them requires energy. Every transaction has to be accounted for and recorded in perpetuity, which again requires data storage and electricity. Who is paying the electricity bills for all these crypto costs? I never hear any of the crypto advocates complaining about their high energy bills. That leads me to think that the costs are being borne by others.
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Author: g0177325   😊 😞
Number: of 48467 
Subject: Re: Crypto question: Who pays?
Date: 12/28/2024 7:58 AM
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The miners pay the costs for mining and are rewarded in bitcoins.

https://www.nerdwallet.com/article/investing/bitco... :

Bitcoin mining is a process by which computers can generate new Bitcoins by doing work that validates transactions and keeps the network secure.

The current Bitcoin mining reward is 3.125 BTC per block, and it shrinks by half roughly every four years.

The hardware and electricity costs required to make real money from Bitcoin mining are substantial.
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Author: EchotaSheeple   😊 😞
Number: of 15064 
Subject: Re: Crypto question: Who pays?
Date: 12/28/2024 8:22 AM
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Just like $7500 new-car cash for upper income white people is a cost being borne by others.

Or things like Kyoto and Paris had more costs being borne by Americans, versus other countries.



BUT this is one more step into becoming cyborgs.

Someone here warned exactly of humans being cyborgs, and held it up as just part of the "culture" problem.

I forget who.....
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Author: PucksFool ⎊🐝  😊 😞
Number: of 15064 
Subject: Re: Crypto question: Who pays?
Date: 12/28/2024 8:01 PM
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But who pays the cost of the energy for maintaining the transaction records in perpetuity?
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