How Sports And Bitcoin Exemplify Low Time Preference And Efficient Energy Exp...
Sports and Bitcoin both transform energy through low time preference into appreciable proof-of-work rewards.Preface: All human action stems from the desire to increase our supply of accessible energy reserves. Humans act to transform energy from inaccessible to accessible. We seek to acquire energy reserves to provide security for an unpredictable future. The more energy reserves we have access to the higher the likelihood we are able to survive periods of stress or hardship.If our main goal is increasing energy reserves then this can be the lens through which we view all human action.....
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ASICRising, a German start-up is trying to find investors to produce a new high-performance microchip that it says would make bitcoin mining much cheaper and energy efficient. The process of mining is becoming increasingly expensive. While mining requires enormous amounts of energy to feed the computing power and cooling systems needed to get the hashing done, ASICRising happily says it has found a solution to this problem: an energy-efficient, low-voltage chip that together with specific software will reduce by more than half the energy needed to mine bitcoin.
The blockchain could serve as the foundation of a system for connecting energy grids, delivering more efficient and environmentally sustainable energy, according to Greentechmedia.com, a news site for the global clean energy market. One company, L03 Energy, is building an “open source cryptographically secure” blockchain to manage transactions across a microgrid. Lawrence Orsini, the founder of L03 Energy, said the blockchain’s impact on energy could be much bigger than bitcoin. L03 Energy has built two nodes collecting generation and consumption data across the microgrid and sending it to....
There is no denying the fact that mining cryptocurrencies and processing decentralized transactions demand large amounts of energy. As per the Bitcoin Energy Consumption Index, the total energy consumption of the Bitcoin network tops 131.12 TWh – that’s almost equal to the total power consumption of Argentina. Experts claim that the energy consumption and electronic […]
In this episode of “Meet The Taco Plebs,” Mind/Matter and I discussed the connections between the low time preference effect of bitcoin and health.
The Bitcoin podcaster and influencer said: “we shouldn’t apologize for Bitcoin’s energy usage, crucial things in the world use energy.” Bitcoin influencer and podcaster Anthony “Pomp” Pompliano said that there is no need to “apologize” for Bitcoin’s energy use, because “crucial things in the world use energy.” He made the comments in a Dec 27 interview on CNBC’s morning news and talk program, “Squawk Box” with Joe Kernen. During the interview, he claimed that many people are missing “key points” in the “climate argument” against the Bitcoin (BTC) ecosystem, especially in terms of....