Comments on: Cryptocurrency’s Thirst: A Single Bitcoin Transaction Consumes a Pool’s Worth of Water https://scitechdaily.com/cryptocurrencys-thirst-a-single-bitcoin-transaction-consumes-a-pools-worth-of-water/ Science, Space and Technology News 2023 Sun, 03 Dec 2023 13:42:10 +0000 hourly 1 https://wordpress.org/?v=6.4.1 By: Marshall Cypress https://scitechdaily.com/cryptocurrencys-thirst-a-single-bitcoin-transaction-consumes-a-pools-worth-of-water/#comment-822009 Sun, 03 Dec 2023 13:42:10 +0000 https://scitechdaily.com/?p=333369#comment-822009 it seems that whoever wrote this article does not understand that water does not just disappear.

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By: Boogaloo https://scitechdaily.com/cryptocurrencys-thirst-a-single-bitcoin-transaction-consumes-a-pools-worth-of-water/#comment-821921 Sun, 03 Dec 2023 07:07:35 +0000 https://scitechdaily.com/?p=333369#comment-821921 More bulls*** accounting. It is wrong to do the accounting on a per transaction basis. Bitcoin has evolved so that it is not primarily a payments network. Most of the bitcoin does not move. 70% has not moved in a year. The accounting need to take into account that the network is now a long term store of value network, and value is not derived on a per transaction basis. For the same reason, externalities should not be accounted on a per transaction basis.

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By: An Outsider Perspective https://scitechdaily.com/cryptocurrencys-thirst-a-single-bitcoin-transaction-consumes-a-pools-worth-of-water/#comment-821862 Sun, 03 Dec 2023 00:36:45 +0000 https://scitechdaily.com/?p=333369#comment-821862 In reply to John Pleb.

The study authors found bitcoin mining involved hydroelectric power using water, and in other types of powerplants, but also water being used locally as coolant. They suggest it is being lost due to evaporation. Do bitcoin miners use evaporative cooling? I’m hoping you know, but I’m not sure that they do, because computer watercooling tends to be a closed loop, or a loop with a sealed reservoir. If not, the phase-change itself would be useful for cooling, like in a heat-pipe, just condensing at the other end.

“This cooling water is evaporated and not available to be reused”, well…it is vapourized. It isn’t destroyed. I think the study authors will find that it sometimes falls back out of the sky.

The article seems to conflate “a single bitcoin transaction” with the mining of a single bitcoin. As far as I know, a single bitcoin transaction is computationally trivial, when mining one intentionally isn’t.

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By: John Pleb https://scitechdaily.com/cryptocurrencys-thirst-a-single-bitcoin-transaction-consumes-a-pools-worth-of-water/#comment-821696 Sat, 02 Dec 2023 11:39:06 +0000 https://scitechdaily.com/?p=333369#comment-821696 By posting this article, you showed that you’re not journalists. You’re propagandists. Bitcoin miners join up with other miners to “pool” together their resources and split the rewards. The pool has nothing to do with water. This whole “Bitcoin mining uses a POOL of water” FUD is based on Jack Dorsey mentioning the word “pool” in a tweet.

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