The Monetary Paradox: Bitcoin Mining To Consume More Power Than The World By 2020

Earth Custodians do not believe that human activity is  to blame for “climate change” but geoengineering. So Bitcoin is not causing any colossal carbon footprint. 

Now this said, the real problem is that world electric grid infrastructure was/is either not designed to support such an activity like mining or the grid already is obsolete to start with (and something about it should have been done a long while ago). On the other side of the ocean, there is a long way to go: Western Europe to invest $133.7 billion in smart grid by 2027. In 2016,  China, Japan, Russia, & South Korea Plan Renewable Energy Super Grid, meaning that if their electric grids are in better shape, there is still room for improvement. 

According to the US Department of Energy, 70 percent of the transmission lines and power transformers in the country are at least 25 years old. The power grids are valued at trillions of dollars, and can’t be replaced in a timely manner when the U.S. government is more than $18 trillion in debt. (dailycaller.com)

However, the grid as conceived by the Consensus is a deception, those aware of the work of Nikola Tesla know this. We should be able to get electricity without any cables nor wires, unfortunately it not deemed profitable by the world monopolies. Wikipedia list of Telsa’s patents

So The Question Is:

Will greed that is responsible for the “outdated” or “not inefficient enough” world power grid will also be responsible for bitcoin miners causing massive grid failures in the future, when trying to crack a code – as it takes more than 1.7billion attempts each time using an enormous amount of computing power as well  as electricity.  Indeed how long will bitcoin continue to skyrocket as it is obvious that cracking a code will require more and more attempts/electricity as the bitcoin value continues to rise? 

The article below already delivers an important detail: … for the average person, the costs involved with mining are so high that it is no longer worth getting involved. So eventually, a bitcoin slowdown will occur at some point…. and most likely, when that happens, most will seek to cash out, causing a bitcoin crash. Something to chew on. It is kind of difficult to foreshadow how things might cool off but…. they surely will. 

Bitcoin mining ‘is using so much energy that it is  causing electricity blackouts’ amid fears it will consume more power  than the world by 2020 | 8 December 2017   (dailymail.uk)

  • Experts say Bitcoin mining is consuming more power than used by 159 countries

  • The hardware uses approximately 31 terrawatt hours of energy per year

  • That compares with 23TWh in Ireland and 309TWh for the whole of the UK

  • It  is creating a ‘colossal’ carbon footprint as the value of one coin  surges to more than £12,000 amid violent swings in the cryptocurrency  market 

We live in a world of scams caused by the “follow the money” mantra blindly, and we should keep that one too in the back of our mind. Another sad and upsetting reality check: We can definitely trust the human mind to turn just anything into insane profits.

Renewable Energy Is Bigger ‘Scam’ than Bernie Madoff and Enron.The greatest scam being perpetrated against taxpayers and consumers is  renewable energy, according to a new analysis published by the  Australian, greater even than Ponzi, Madoff and Enron.  While sinking enormous financial resources into propping up  renewable energy prospectors, national governments are providing no  perceptible benefits to their citizens, writes Judith Sloan, a renowned  Australian economist who has served on the Australian government’s  Productivity Commission. “With very few exceptions, governments all over the world have  fallen into the trap of paying renewable energy scammers on the basis  that it is necessary, at least politically, to be seen to be doing  something about climate change,” Sloan writes, before providing readers  with an avalanche of economic data to back up her assertion. In Australia, more than 2 billion taxpayer dollars a year are  funneled to renewable energy handlers by virtue of the operation of the  renewable energy target and the associated renewable energy  certificates, Sloan observes.  At the same time, the Australian Renewable Energy Agency  “shovels out hundreds of millions of dollars annually to subsidise  renewable energy companies, many of which are overseas-owned,” she  states, and the Clean Energy Finance Corporation was given $10 billion  in equity by the Gillard Labor government “to lend or grant money to  renewable energy companies.”’  Read more: Report: Renewable Energy Is Bigger ‘Scam’ than Bernie Madoff and Enron 

feel free to discus this blog in our forum:  http://www.earthcustodians.net/forum/index.php?topic=61.msg64;boardseen#new

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