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Kodak also detailed plans to install rows of Bitcoin mining rigs at its headquarters in Rochester, New York. For a few years now I've debated writing up a post about why a "blockchain-based DRM" is an idea that people frequently talk about, but which is a really dumb idea. Because the key point in the blockchain is that it "solves" Also at Bloomberg , The Verge , and Futurism. Perhaps they'll finally be able to deliver the super8 camera they announced back in ?
Rather the central government called on local governments to tell the miners to wind down gracefully. China has good reason to forbid mining: Mining is cheap there because coal is cheap. However the miners aren't just shutting down; they are relocating to other countries, mostly the US and Canada. Here in the Pacific NorthLeft I only pay 8. Insane compared to what? The amount of energy used to mine, extract and refine precious metals like Gold? Or the amount of energy used all across the worlds financial sectors to process transactions?
Bitcoins energy use is a small fraction of the energy costs of current transaction systems. As Bitcoin aficionados work on the pretext that Bitcoin will be a replacement for the above transaction system, its current consumption is not a problem, because a it is temporary until the switchover is complete, and b further tech developments and refinements will result in a reduction in energy consumption.
However until that fateful day comes if it comes at all Bitcoin will run in parallel with the existing system, so there will be increased energy usage costs. However, it still doesn't seem that large at least to me. Sorry to burst your bubble, but bitcoin mining energy is orders of magnitude above existing financial transaction systems.
The current hash rate is astronomically high, and makes the worlds financial industry look like a desktop calculator.
They will overlock and run as hot as possible, not giving a damn for energy consumption, and there are thousands of them all chasing one trade, and only the fastest one actually gets the profit not unlike bitcoin itself actually.
Bitcoin is supposed to replace all of the above really At least that is the goal of some of the more devout followers, the way I read it. You can estimate the electricity just used to support the retail banking buildings in the US and it is about double that bitcoin mining uses however for fewer transactions per second; but bitcoin transactions per second do not scale with energy by design.
I've yet to see anyone do an actual comparison though include the energy use of btc exchanges, credit cards, atms, secure transport, fraudulent chargebacks vs hacks, support employees needed, etc. Here's a rough top-level starting point: That would not seem to scale well Actually we see that has nothing to do with it. It depends on the exchange rate and number of each in existence. After the switch to Digital why did they never come out with anything of significance, Nikon and and Cannon survived the switch, also I'm I misremembering wasn't the CCD developed by Kodak?
After the switch to Digital why did they never come out with anything of significance, Nikon and and Cannon survived the switch. They did have a range of half-decent consumer digital cameras in the late 90s, and tried to create a camera OS with a proper API that could run custom software that added features to the camera.
Sort of like small applications, but obviously nobody wants to install custom applications on a mobile device like a camera perhaps they should have called them "plics" or "cations" or some other shortened form of "applications" that currently eludes me - and maybe opened a "Plic Store" on the internet However, imagine it's years ago, you walk into a store to buy a "prosumer" digital camera. Kodak made film, film processing equipment and ran film processing franchises.
Yes they made cameras - cheap and cheerful cameras sold on the razor-blade business model with film and processing services as the blades. Even if Kodak could have sold lots of cameras, their owners would no longer buy a dozen rolls of Kodachrome to go on holiday or pay for 6x4 prints on their return. If Kodak had followed on their research and taken an early lead in digital cameras, the practical upshot would still have been to obliterate their major line of business a few years sooner.
Instead, they tried to prolong the life of the processing business: There was the APS system that tried to make film more like digital, by adding metadata etc.
Its one thing to adapt to a changing market - but if you are a huge company and your main business model goes bye-bye in the space of a couple of years, you are probably shafted whatever you do. We'll have to sell the coaching inn, unless someone invents a new car with limited range that takes an hour to refuel - fat chance of that!
It could be a way to artificially inflate a balance sheet. I hope that accounting firms are wise to this, and SEC rules make it clear how much of a company's net worth is "backed up" by questionable cryptocurrencies.
So since they have proven themselves to be complete and total whores, perhaps the will go all the way? What comes out, cannot be worth nothing, because that is one famous ass, not like khallow, or RunawayASS at all. Can I interest anyone in tulips? Stock going for pennies on the dollar! Do you need a blow job? Get out of here, Donald! Mostly suckers, with money. This is a very great libertarian investment! Only half your ammo stocks, and you could be rich!
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China wants to put an end to mining China wants to put an end to mining Score: Perhaps the PRC is dismayed at the short life expectancies of children with asthma. China wants to put an end to mining Re: China wants to put an end to mining Score: I always believed that wasting energy on production of bitcoins is insane. Are there any numbers?
I am genuinely curious, knowing the sheer amount of energy used in: Why did Kodak never make cameras? Soylent Upgrade v14 [soylentnews. OK but they made the first digial camera in Accounting scam Accounting scam Score: I think it's the pump-and-dump of the week. Announce business X is making its own cryptocurrency. Announce "We didn't mean it. Visits always give pleasure: