Pilot currency represents some progress. Long way to go.
Big Picture: US seizing that 300 Billion a major error. Hence the Saudi [and other Petro princes] angst at possibility of US seizing their mega-Petro Dollar funds.
No thank you, for the “monetary sovereignty” BoC… your reputation is in tatters for following the FED jacking interest rates (when the fed said shortly beforehand that they weren’t even thinking of thinking of increasing rates)… so now you need even more power and control to digitally debt enslave?!
How much energy does Russia use for heating in the winter?
Hook up those Bitcoin ASICS in the utility rooms and circulate the generated heat all while mining those “dirty” bitcoins ( boiler or air system heating)
Though it is more efficient to site ASICS near the source of power generation (due to transmission line losses and for ease and scale of load balancing)
Hook up some idle gensets to those and cheaply mine those sweet bearer asset bitcoins with no counterparty (unless you count the entire Wild West internet as a counterparty)
1. Conflating crypto both Bitcoin is an error (not sure why Putin uses crypto when all that electricity is a super-majority being used to mine Bitcoin, even ethereum has abandoned proof of work
2. Corollary, The (proof of) work of a fair financial and monetary policy began with Bitcoin (and even after 15 years, it is still a relative drop in the bucket of world financial flows and ergo the USD price can be relatively easily manipulated, but the monetary policy DOES NOT CHANGE even if more electricity is applied)
3. … on that note, Quebec hydro alone wastes/dumps so much over generation that could basically power all exisiting ASICS… plus, miners are the only type of electric load that can be almost instantly powered on and off for load balancing (try that with a Google cloud centre or steel mill!)
4. Bitcoin has 15 year proven censorship resistance and doesn’t care if you are American or Russian , flaming homosexual or raging homophobic!
Y’all need to dig deeper (including Putin apparently)
Who is forcing them to use power for this?? Go ahead and do what China did in ‘21 if they like… it just would be a stupid move
What is the “right” amount of electricity to secure an un-falsifiable ledger AND monetary policy? Why would BRICS try to reinvent the wheel when Bitcoin is well proven in a very adversarial environment? They don’t accept Bitcoin because they (just like ‘Murica ) want complete transactional and monetary policy control , no?
PS it seems like you still don’t understand that the application of more electricity does not produce additional bitcoins… the difficulty adjustment happens every ~2 weeks
PPS thank you for at least some response this time
Grids need load balancing , ASIC bitcoin miners are a great option for load balancing, as already stated, please let me know if you think of any other large power consumer that can compete with their capability to almost instantaneously power up and down!
Pilot currency represents some progress. Long way to go.
Big Picture: US seizing that 300 Billion a major error. Hence the Saudi [and other Petro princes] angst at possibility of US seizing their mega-Petro Dollar funds.
https://thelogic.co/news/bank-of-canada-cbdc-report-2024/
No thank you, for the “monetary sovereignty” BoC… your reputation is in tatters for following the FED jacking interest rates (when the fed said shortly beforehand that they weren’t even thinking of thinking of increasing rates)… so now you need even more power and control to digitally debt enslave?!
How much energy does Russia use for heating in the winter?
Hook up those Bitcoin ASICS in the utility rooms and circulate the generated heat all while mining those “dirty” bitcoins ( boiler or air system heating)
Though it is more efficient to site ASICS near the source of power generation (due to transmission line losses and for ease and scale of load balancing)
How much gas does Russia flare?
Hook up some idle gensets to those and cheaply mine those sweet bearer asset bitcoins with no counterparty (unless you count the entire Wild West internet as a counterparty)
Sorry, but:
1. Conflating crypto both Bitcoin is an error (not sure why Putin uses crypto when all that electricity is a super-majority being used to mine Bitcoin, even ethereum has abandoned proof of work
2. Corollary, The (proof of) work of a fair financial and monetary policy began with Bitcoin (and even after 15 years, it is still a relative drop in the bucket of world financial flows and ergo the USD price can be relatively easily manipulated, but the monetary policy DOES NOT CHANGE even if more electricity is applied)
3. … on that note, Quebec hydro alone wastes/dumps so much over generation that could basically power all exisiting ASICS… plus, miners are the only type of electric load that can be almost instantly powered on and off for load balancing (try that with a Google cloud centre or steel mill!)
4. Bitcoin has 15 year proven censorship resistance and doesn’t care if you are American or Russian , flaming homosexual or raging homophobic!
Y’all need to dig deeper (including Putin apparently)
You miss the point that the excessive power use is detrimental to Russia's development plans.
Who is forcing them to use power for this?? Go ahead and do what China did in ‘21 if they like… it just would be a stupid move
What is the “right” amount of electricity to secure an un-falsifiable ledger AND monetary policy? Why would BRICS try to reinvent the wheel when Bitcoin is well proven in a very adversarial environment? They don’t accept Bitcoin because they (just like ‘Murica ) want complete transactional and monetary policy control , no?
PS it seems like you still don’t understand that the application of more electricity does not produce additional bitcoins… the difficulty adjustment happens every ~2 weeks
PPS thank you for at least some response this time
Grids need load balancing , ASIC bitcoin miners are a great option for load balancing, as already stated, please let me know if you think of any other large power consumer that can compete with their capability to almost instantaneously power up and down!