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The processing world of the Bitcoin network is leaps and bounds larger than all three of these alternative networks combined. Bitcoin submitted 1 year ago by MfJonesy. New merchants are welcome to announce their services for Bitcoin, but after those have been announced bitcoin are no longer news and should not be network. The entire Bitcoin network now consumes more energy than a number of countries, based on a report published by the Network Energy Agency. Much of the value of the community is the feedback from people with an interest and technical understanding that can help people world their ideas.

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Join the Network Be part of the Bitcoin network by running a Bitcoin full node, e. The analogy is right on the mark and the fact that you are too immature to see it aligns perfectly with the immature behavior represented in your badgering. We previously collected donations to fund Bitcoin advertising efforts, but we no longer accept donations. Bitnodes is currently being developed to estimate the size of the Bitcoin network by finding all the reachable nodes in the network. No referral links in submissions.

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Network comment will be published. Toxic world behavior is not welcome. Btw, your name calling, isn't that one of those bitcoin you wouldn't do in person but you feel empowered to do on the net? Join the Network Be part of the Bitcoin network by running a Bitcoin full node, e. If one would like bitcoin contribute, and are presumably doing self promotion world garner interest, you better be prepared network answer tough questions.

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World bitcoin network

Today in Bitcoin News Podcast (2017-12-22) - Coinbase Fractional Reserve? - Bitcoin $13,200

Frankly if you approached me like that I wouldn't bother to give you my time either. You should really lay off people. At least he is trying to contribute to our community How have you brought value towards this community? I see haters spewing garbage from their mouths all too often when they have not lifted a finger to help. His ideas will add value and take off, or they won't.

But there's no point in badgering him over his ideas. That's just some negative bullshit we don't need. Toxic hostile behavior is not welcome. Please be more specific regarding toxic or hostile behavior. I was asking him specific questions and he eluded. If you didn't notice most of the comments in that thread were negative except for the clear shills that got downvoted into oblivion.

There were plenty of other people greeting him with negativity and skepticism. This was also not my first run in with the guy and last time questions and constructive criticism were met with a dismissive and superior attitude - the likes of "who the hell are you? I've witnessed him treating others in exactly the same way.

It seems to be his MO. If one would like to contribute, and are presumably doing self promotion to garner interest, you better be prepared to answer tough questions. Do you disagree he was using shill accounts? I've been busier lately and have not had the time to comment as much.

Also, if you haven't noticed, he never came back with Part 2 which he suggested would fill in the gaps of his new supposedly amazing technology. So history is proving me and the other skeptics right. Btw, he was suggesting bitcoin based IDs via facial recognition so I think it only prudent to get some answers to important privacy related questions. He could not make the connection as to how one could identify the person and their account without having a local identity database.

This is a community that should and does tolerate dissent and we are all entitled to our opinions. Much of the value of the community is the feedback from people with an interest and technical understanding that can help people vet their ideas. This is a valuable service provided for free.

You dont see how you were badgering him to death? Look, just because you feel a certain way and "ask nicely" does not mean that others are forced to engage with you. See how you are writing endless blocks of text at him, and how he's not engaging with you?

Thats like walking up to a woman at a bar without asking if you can sit down, then sitting down, and proceeding to "spit your game" at her for the next hour even though she's clearly indicated she's not interested. You are being a annoying troll. Just because you want to engage does not mean others must engage. This is really basic common respect principles. Just because you are online does not mean that there are not two humans involved.

Just because you are not face to face does not remove your basic responsibility towards others in society. Your analogy is a bit off the mark. His video was posted on reddit and he joined the discussion.

Hardly like a girl at a bar minding her own business. Badgering or just trying to get an actual answer from him rather than an insult? Seems like the redditors in that post saw it pretty clearly as evidenced by their up and down votes. If you actually read the thread you'd see he was the one that lacked general socialization skills. He also deleted his own posts which clearly indicates damage control and regretting his own words.

I noticed you didn't say anything about his shilling for himself, yet another indication that he was trying to misrepresent reality, yet you focus on my taking him to task. You might want to separate any idol worship if you'd like to stay objective.

If he was a nobody I don't think you would be defending him or his actions in that thread. The analogy is right on the mark and the fact that you are too immature to see it aligns perfectly with the immature behavior represented in your badgering. As I already explained, I did read the thread. That's why i commented, because all I saw was a hyper emotional kid getting worked up and incessently badgering someone over something, and that he clearly did not wish to engage with you and told you so repeatedly.

What you dont understand is that the merits of his idea's will be judged regardless of your existence. You are not needed in the picture. This was recreational mock outrage or virtue signaling. If you dont want to take valid criticism, fine. Just understand that when people get pissed off when you are around, thats why.

Also, I find the fact you are using karma as a measure hilarious. Dude, your account is 6 years old and you have shit karma. Clearly its not working well for you.

Maybe its because your communication skills blow? But hey, dont listen to me, just listen to your own thoughts. Have fun reflecting to your inner voice because you are only going to hear what you want to. Btw, your name calling, isn't that one of those things you wouldn't do in person but you feel empowered to do on the net?

This "kid" probably has at least a decade on you. Please point to some emotion or be specific as I asked in response to your first post or spare me your interpretation. By the way, apart from commenting on my approach perhaps instead you can do something productive like defend James' ideas. For example a congress of elected people deciding which transactions are valid instead of voluntary miners who can choose to remain anonymous. Or how about a face based identity system for bitcoin?

Seem like great ideas right? As mining can provide a solid stream of revenue, people are very willing to run power-hungry machines to get a piece of it. Over the years this has caused the total energy consumption of the Bitcoin network to grow to epic proportions, as the price of the currency reached new highs. The entire Bitcoin network now consumes more energy than a number of countries, based on a report published by the International Energy Agency.

If Bitcoin was a country, it would rank as shown below. The result is shown hereafter. Coal-based electricity is available at very low rates in this country. Even with a conservative emission factor , this results in an extreme carbon footprint for each unique Bitcoin transaction.

To put the energy consumed by the Bitcoin network into perspective we can compare it to another payment system like VISA for example. We also know VISA processed With the help of these numbers, it is possible to compare both networks and show that Bitcoin is extremely more energy intensive per transaction than VISA note that the chart below compares a single Bitcoin transaction to , VISA transactions.

Of course, these numbers are far from perfect e. More energy efficient algorithms, like proof-of-stake, have been in development over recent years. In proof-of-stake coin owners create blocks rather than miners, thus not requiring power hungry machines that produce as many hashes per second as possible.

Because of this, the energy consumption of proof-of-stake is negligible compared to proof-of-work. The only downside is that there are many different versions of proof-of-stake, and none of these have fully proven themselves yet.

Even though the total network hashrate can easily be calculated, it is impossible to tell what this means in terms of energy consumption as there is no central register with all active machines and their exact power consumption. This arbitrary approach has therefore led to a wide set of energy consumption estimates that strongly deviate from one another, sometimes with a disregard to the economic consequences of the chosen parameters.

The Bitcoin Energy Consumption Index therefore proposes to turn the problem around, and approach energy consumption from an economic perspective. The index is built on the premise that miner income and costs are related. Since electricity costs are a major component of the ongoing costs, it follows that the total electricity consumption of the Bitcoin network must be related to miner income as well.

To put it simply, the higher mining revenues, the more energy-hungry machines can be supported. How the Bitcoin Energy Consumption Index uses miner income to arrive at an energy consumption estimate is explained in detail here , and summarized in the following infographic:. Note that one may reach different conclusions on applying different assumptions.

The chosen assumptions have been chosen in such a way that they can be considered to be both intuitive and conservative, based on information of actual mining operations. In the end, the goal of the Index is not to produce a perfect estimate, but to produce an economically credible day-to-day estimate that is more accurate and robust than an estimate based on the efficiency of a selection of mining machines.

Over time, the Bitcoin Energy Consumption Index has been subject to a fair amount of criticism. Entrepreneur Marc Bevand, who argues that there are serious faults in the way the Bitcoin Energy Consumption Index is calculated, is often quoted in this regard.

Of course, the Bitcoin Energy Consumption Index is also very much a prediction model for future Bitcoin energy consumption unlike hashrate-based estimates that have no predictive properties. At the moment January , miners are spending a lot less on electricity. This increase appears to be in line with expected miner production. Altogether, it can be concluded that the relatively simple Bitcoin Energy Consumption Index model is supported by both emprical evidence from real-world mining facilities, as well as Bitcoin ASIC miner production forecasts.

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A beginner's guide to all things bitcoin. Play next; Play now. Bitcoin Nodes vs. Noses - An Axiom For Discussing Bitcoin's Scaling & Centralization Problem - Duration: 8 minutes, 54 seconds. CRI. 21, views; 2 years ago. Play next; Play now. Bitcoin - idchains - Part 1 - The Basics Of A Bitcoin-Based. James De’Angelo is well-known in the Bitcoin industry for his YouTube Channel: World Bitcoin Network. De’Angelo’s videos provide simple explanations about basic Bitcoin concepts, making it easy for beginners to understand the new technology. Bitcoin articles by or related to. I always enjoyed James' videos but they seemed to have disappeared. Any one know what happened?.

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