An energy black hole? The dirty truth about bitcoin mining

an-energy-black-hole?-the-dirty-truth-about-bitcoin-mining

09-10-19 01:05:00,

Bitcoin and crypto miners do consume vast amounts of power, but how much power do they really use, and are they actually a big burden on the grid?

For some crypto buffs, critics who squawk at the vast amounts of energy supposedly consumed by crypto mining and how it contributes to climate change are little more than churlish, pedantic party poopers. 

In one camp are the PoW (Proof-of-Work) maximalists who argue that bitcoin is the “most secure public chain” as measured by hashrate, but denying that bitcoin is an energy hog.

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In the other camp are crypto apologists (such as CoinShare) who concede that bitcoin and crypto mining are indeed power-hungry processes, but immediately go on the defensive by claiming that most of the energy is derived from renewable sources.

You probably already know where this is going. The long and short of it: bitcoin and crypto mining do consume vast amounts of power, as we shall see shortly.

Securing crypto networks is costly

By necessity, the most secure cryptographic networks such as bitcoin and ethereum are also the most energy intensive since they rely on heavy resource consumption to defend their networks from malicious attackers. PoW projects, like bitcoin, rely on mining to secure their blockchains and require the hashing power to continue even after every coin has been mined. Less resource-intensive networks do not employ such rigorous processes and are, consequently, almost certainly less secure.

Mineable coins belong to the PoW category, of which CoinMarketCap lists a total of 581. These are the main culprits as far as energy guzzling is concerned. Non-mineable coins such as Ripple, EOS, Stellar, Tezos, NEO and NEM are more energy efficient as they don’t require tons of energy to validate transactions and secure the network as their PoW brethren.

And now to the million-dollar question: how much energy does bitcoin and crypto mining suck off our power grids every year?

Available data varies quite a bit depending on whom you ask, and is, quite frankly, all over the place.

Figures of sub-10 TWh per year have been thrown about,

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Clean energy dream fuels a dirty mineral rush

clean-energy-dream-fuels-a-dirty-mineral-rush

08-08-19 09:19:00,

A future of environment-friendly energy, where dirty engines and power plants rust in history’s scrapyard, is an idyllic vision. In the cynical real world, the rush for green batteries is fueling a harmful mining boom.

By 2030, there will be 140 million electric cars on Earth, and by 2040 every third vehicle will be powered by green electricity instead of the fossil fuels that have been slowly choking the environment for the past couple centuries. That’s according to assessments by Glencore Plc and BloombergNEF.

Sounds like we’re on the right track and Greta Thunberg’s zero-emission dream could be achieved within her lifetime. Humanity is finally coming to its senses.

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Let them sail yachts: Why Greta Thunberg and the environmental elite hate you

Get digging

Not quite. All those cars will need batteries, and all those batteries will need to be built with a small periodic table of minerals. And all those minerals need to be mined – in some cases strip-mining the rest of the planet’s explored deposits.

The rush is already on. The world’s top mining corporations are starting to carve up the growing market for lithium, nickel, cobalt, copper, platinum and palladium – all key materials in making electric vehicle (EV) batteries.

And they will have to start digging if they want to keep up. It’s estimated that 3 million more tons of copper will have to be mined per year to feed the production of 140 million EVs by 2030 – and that’s copper, the most recycled metal on Earth. Nickel mining will have to increase by 1.3 million tons per year, and cobalt by 263,000 tons.

Those are just batteries. Electric cars also need engines, and solar and wind generators – without which a green future is unimaginable – will also gobble up those materials, including more obscure ones like tellurium and neodymium.

Demand is set to exceed supply – which is why those mining giants are rushing to increase theirs (and make a good buck along the way). In some cases, demand will exceed the supply offered by the planet – at least the feasibly-minable reserves we have discovered so far.

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Environmental impact

Lithium,

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The Post-Carbon Energy Eugenics Hoax : The Corbett Report

the-post-carbon-energy-eugenics-hoax-:-the-corbett-report

03-06-19 07:56:00,

The Corbett Report

Corbett • 06/03/2019

Podcast: Play in new window | Download | Embed

Watch this video on BitChute / DTube / YouTube

James Corbett joins Ricky Varandas of The Ripple Effect and Jeffrey Wilson and Pat Miletich of Conspiracy Farm for another roundtable swapcast. This time they break down the history of Big Oil carbon eugenics agenda and the future of the technocratic post-carbon world.

CLICK HERE for show notes and mp3 audio for this conversation

Filed in: Videos
Tagged with: climate changeeugenicsoiltechnocracy

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  1. Corbett says:


    06/03/2019 at 7:22 am

    To avoid any confusion I will close the comments on this post. To comment on this conversation please go to the interview post:

    https://www.corbettreport.com/?p=31368

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US Energy Dept. blindsides Nevada with secret delivery of half a ton of weapons-grade plutonium

us-energy-dept.-blindsides-nevada-with-secret-delivery-of-half-a-ton-of-weapons-grade-plutonium

31-01-19 10:09:00,

The US Department of Energy secretly shipped half a metric ton of weapons-grade plutonium to Nevada despite the state’s strong opposition to receiving the nuclear material. The state government fears more deliveries may follow.

The Energy Department infuriated Nevada’s government with the admission that it had shipped weapons-grade plutonium from South Carolina to a nuclear security site 113km north of Las Vegas before November, when state authorities asked for a court order blocking such a move. They didn’t specify when the cross-country journey had occurred – merely that enough time had elapsed since then to disclose it without compromising national security.

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The state of Nevada is seeking an emergency injunction to block further shipments of plutonium, Governor Steve Sisolak announced at a press conference, noting that the Energy Department’s nuclear surprise has created the “palpable suspicion” that more plutonium is on its way to his state. Sisolak is pursuing “any and all legal remedies,” including contempt of court orders to be filed against the federal government, in fighting back against what he called “reckless disregard” for Nevadans’ safety.

They lied to the state of Nevada, misled a federal court, and jeopardized the safety of Nevada’s families and environment,” Sisolak said, describing negotiations with the Energy Department as a “total sham.” The state insists the department has not sufficiently studied the dangers of moving the hazardous material into an area subject to earthquakes and flash floods, and warns the plutonium would have to travel through Las Vegas to get to the nuclear site – endangering the city’s 2.2 million residents and 40 million annual tourists.

An earlier legal request to block the Energy Department from shipping a full metric ton of plutonium from South Carolina is winding its way through the courts and is currently before US District Judge Miranda Du. She declined to immediately block the shipment, opting to wait until February to rule. Meanwhile, she said, “I hope the government doesn’t ship plutonium pending a ruling by this court.”

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The Justice Department,

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Why Nuclear Energy Is Critical For Russia

Why Nuclear Energy Is Critical For Russia

16-07-18 07:09:00,

Authored by Vanand Meliksetian via Oilprice.com,

As the world’s largest natural gas and oil producer and exporter, Russia plays an important role in setting the global geopolitical agenda. The recent agreement with OPEC is evidence of Moscow’s ability to set prices. However, in another field of energy production Russia captures an even more dominant position: nuclear technology.

The Russian nuclear industry is one of the oldest and most mature in the world. After the end of the Second World War and the start of the Cold War, nuclear technology was not only essential for security purposes as a deterrent towards the competing power bloc, but also as a sign of prestige. The first nuclear power plant connected to the grid was opened in 1954 in the USSR. Global nuclear power plant construction in later years was dominated by three countries: France, the U.S., and the Soviet Union.

The demise of communism and the end of the Cold War significantly reduced the development of nuclear technology by the Soviet Union’s successor: the Russian Federation. In 2007 President Putin signed a decree in which a government owned holding company was created to solidify the domestic civil nuclear technology sector. The downward spiral steadily reclined and has turned out to be a resounding success.

The order book of Russia’s state owned Rosatom has steadily increased to $300 billiondollars in recent years. Currently, 34 reactors in 12 countries are under construction while several other states have shown interest. The order book adds up to a global market share of 60% of all nuclear power plants planned or under construction.

(Click to enlarge)

China also hosts an ambitious civil nuclear power sector where the largest number of reactors in a single country is under construction. Beijing’s export-oriented nuclear power technology development, renders risks for Rosatom in the long term. However, despite significant progress made by Chinese developers, Russian reactors remain popular in the Asian country – as illustrated by the recent approval of another four reactors during a state ceremony in Beijing.

Russian civil nuclear technology appeals to a host of customers due to attractive agreements.

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