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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: Eric who wrote (78485)	7/22/2017 1:01:13 PM
From: Brumar89	Read Replies (1) \| Respond to of 86355

People h/b predicting the imminent running out of FF's for over a hundred years. Human ingenuity finds more and finds new ways to use them.

To: Eric who wrote (78485)	7/22/2017 1:07:24 PM
From: Brumar89	Read Replies (1) \| Respond to of 86355

Bitcoin and energy: The blockchain. It is the much-hyped, virtually foolproof digital ledger that allows cryptocurrencies such as bitcoin to flourish without the need for banks and governments, and promises to enable everything from the creation of ethical supply chains, to the ensuring of instantaneous payment on delivery of goods and services agreed to in immutable smart contracts. The techno-utopian predictions for this system ignore one crucial detail, however. The intense data processing required by blockchain pulls in an extraordinary amount of electricity, and widespread use of it would drag global energy markets into the abyss – and bring the world’s carbon emissions budget down with it. As an example, just a single bitcoin transaction has been calculated to devour as much energy as what powers 1.57 US households for a day – roughly 5,000 times more energy-hungry than a typical credit card payment. ......... theguardian.com