"The atmosphere is among the factors that determines the Earth's atmosphere." --ZenMode
"Donald has failed in almost every endeavor he has attempted. " --floridafan
"Abortion is not a moral issue. " --BidenPresident
"Propaganda can also be factual." --Flash
"Even after being vaccinated, you shed virus particles." --Jerome
"no slavery is forcing another into labor" -archives
"Evs are much safer from fires" -- Nordberg
"Abortion has killed no one." -- LurchAddams
"The atmosphere is among the factors that determines the Earth's atmosphere." --ZenMode
"Donald has failed in almost every endeavor he has attempted. " --floridafan
"Abortion is not a moral issue. " --BidenPresident
"Propaganda can also be factual." --Flash
"Even after being vaccinated, you shed virus particles." --Jerome
"no slavery is forcing another into labor" -archives
"Evs are much safer from fires" -- Nordberg
"Abortion has killed no one." -- LurchAddams
"The atmosphere is among the factors that determines the Earth's atmosphere." --ZenMode
"Donald has failed in almost every endeavor he has attempted. " --floridafan
"Abortion is not a moral issue. " --BidenPresident
"Propaganda can also be factual." --Flash
"Even after being vaccinated, you shed virus particles." --Jerome
"no slavery is forcing another into labor" -archives
"Evs are much safer from fires" -- Nordberg
"Abortion has killed no one." -- LurchAddams
Hawkeye10 (12-19-2021)
"The atmosphere is among the factors that determines the Earth's atmosphere." --ZenMode
"Donald has failed in almost every endeavor he has attempted. " --floridafan
"Abortion is not a moral issue. " --BidenPresident
"Propaganda can also be factual." --Flash
"Even after being vaccinated, you shed virus particles." --Jerome
"no slavery is forcing another into labor" -archives
"Evs are much safer from fires" -- Nordberg
"Abortion has killed no one." -- LurchAddams
"The atmosphere is among the factors that determines the Earth's atmosphere." --ZenMode
"Donald has failed in almost every endeavor he has attempted. " --floridafan
"Abortion is not a moral issue. " --BidenPresident
"Propaganda can also be factual." --Flash
"Even after being vaccinated, you shed virus particles." --Jerome
"no slavery is forcing another into labor" -archives
"Evs are much safer from fires" -- Nordberg
"Abortion has killed no one." -- LurchAddams
McRocket (12-19-2021)
"The atmosphere is among the factors that determines the Earth's atmosphere." --ZenMode
"Donald has failed in almost every endeavor he has attempted. " --floridafan
"Abortion is not a moral issue. " --BidenPresident
"Propaganda can also be factual." --Flash
"Even after being vaccinated, you shed virus particles." --Jerome
"no slavery is forcing another into labor" -archives
"Evs are much safer from fires" -- Nordberg
"Abortion has killed no one." -- LurchAddams
"The atmosphere is among the factors that determines the Earth's atmosphere." --ZenMode
"Donald has failed in almost every endeavor he has attempted. " --floridafan
"Abortion is not a moral issue. " --BidenPresident
"Propaganda can also be factual." --Flash
"Even after being vaccinated, you shed virus particles." --Jerome
"no slavery is forcing another into labor" -archives
"Evs are much safer from fires" -- Nordberg
"Abortion has killed no one." -- LurchAddams
Yes, block chain amounts to a pyramid scheme, and cryptocurrencies are based wholly or in part on it.
https://scet.berkeley.edu/wp-content...ial%C2%A0world.
https://insights.sei.cmu.edu/blog/wh...is-blockchain/
https://www.pwc.com/us/en/industries...ocurrency.html
And, cryptocurrencies do require an ever growing amount of power and computing power to work.
https://techcrunch.com/2021/03/21/th...y-consumption/According to the University of Cambridge’s bitcoin electricity consumption index, bitcoin miners are expected to consume roughly 130 Terawatt-hours of energy (TWh), which is roughly 0.6% of global electricity consumption
That's current, and it will grow as cryptocurrencies grow in use.
https://www.thebalance.com/how-much-...ork-use-391280So exactly how much power does it take to create a bitcoin? According to Digiconomist, as of July 15, 2021, a single Bitcoin block requires 1,721.96 kWh, or nearly $26,000. When you put it all together, that’s a projection of 135.12 TWh in the year, or about as much power as is used annually by the country of Sweden
https://markets.businessinsider.com/...crypto-2021-12Iceland is turning away new bitcoin miners as island nation deals will power crunch
As you can see, Iceland has already banned new bitcoin / cryptocurrency mining due to the power it consumes. It's a harbinger of things to come.
The same problem is inherent in storage of the chains.
https://101blockchains.com/blockchai...ckchain%20size.In the last two years, the bitcoin blockchain ledger size has grown from 150 GB to 250 GB. That’s almost 50 GB per year. By 2030, we can see the blockchain ledger size cross more than 1 TB easily. However, not every node needs to download the whole blockchain to become functional. Some participants take part in the blockchain network to make transactions and not to validate one.
The rise in storage space is an exponential
https://www.statista.com/statistics/...ockchain-size/
That means at some point there won't be enough computing power to continue to produce the extant chains, let alone new ones. When that happens, the system crashes and these cryptocurrencies fail. It amounts to a pyramid scheme where the early entrants can extract large profits from the pyramid and leave before the late entries are stuck with no way to continue to grow the pyramid and it collapses.
The Bernie Madoff pyramid scheme shows how the largest ones can function for decades before failing but in the end, they eventually do fail.
McRocket (12-19-2021)
"Hatred is a failure of imagination" - Graham Greene, "The Power and the Glory"
"The atmosphere is among the factors that determines the Earth's atmosphere." --ZenMode
"Donald has failed in almost every endeavor he has attempted. " --floridafan
"Abortion is not a moral issue. " --BidenPresident
"Propaganda can also be factual." --Flash
"Even after being vaccinated, you shed virus particles." --Jerome
"no slavery is forcing another into labor" -archives
"Evs are much safer from fires" -- Nordberg
"Abortion has killed no one." -- LurchAddams
...and now for some mindless cut and paste from T.A. Gardner, since he can't seem to form his own argument...
Block chains are not a pyramid scheme. They are a data structure. False authority fallacy.
Block chain computing is done by the clients of the block chain. There is no central computing used.
Mining doesn't consume power. It consumes time. The government of Iceland cannot stop Bitcoin mining.
Storage doesn't require power.
Storage doesn't require power. The chain is not stored in any central location.
Block chains are not a pyramid scheme. They are a data structure.
Data structures do not fail.
You are mindlessly cutting and pasting. You are unable to form your own argument or even to analyze an argument. People that do this can't think for themselves. You are open to whatever claptrap anyone wants to put on a website.
"The atmosphere is among the factors that determines the Earth's atmosphere." --ZenMode
"Donald has failed in almost every endeavor he has attempted. " --floridafan
"Abortion is not a moral issue. " --BidenPresident
"Propaganda can also be factual." --Flash
"Even after being vaccinated, you shed virus particles." --Jerome
"no slavery is forcing another into labor" -archives
"Evs are much safer from fires" -- Nordberg
"Abortion has killed no one." -- LurchAddams
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