How to fix Bitcoin’s energy-consumption problem

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Bitcoin mining consumes a lot of energy. Every once in a while, someone compares this to another random metric — say, the energy consumption of Ireland — and it induces a collective gasp. How can this thing be sustainable?

Well, it probably isn’t. But, long-term, it might not be that big of a deal.

It’s true that Bitcoin mining is an awful energy drain. Hundreds of thousands of application-specific integrated circuits or ASICs — specific hardware aimed exclusively for mining cryptocurrencies — hum in huge halls, mainly located in China, and use enormous amounts of electricity to create new bitcoins. They also power the Bitcoin transaction network, but they do it in a horribly inefficient way. The fact that a huge chunk of China’s electricity comes from fossil fuels makes the situation even worse.  Read more…

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How to fix Bitcoin’s energy-consumption problem

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Bitcoin mining consumes a lot of energy. Every once in a while, someone compares this to another random metric — say, the energy consumption of Ireland — and it induces a collective gasp. How can this thing be sustainable?

Well, it probably isn’t. But, long-term, it might not be that big of a deal.

It’s true that Bitcoin mining is an awful energy drain. Hundreds of thousands of application-specific integrated circuits or ASICs — specific hardware aimed exclusively for mining cryptocurrencies — hum in huge halls, mainly located in China, and use enormous amounts of electricity to create new bitcoins. They also power the Bitcoin transaction network, but they do it in a horribly inefficient way. The fact that a huge chunk of China’s electricity comes from fossil fuels makes the situation even worse.  Read more…

More about Bitcoin, Energy, Business, and Energy

View More How to fix Bitcoin’s energy-consumption problem

Tesla switches on the world’s largest lithium ion battery

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Tesla’s hit the switch on the world’s largest lithium ion battery.

After winning a bet to build the huge battery in 100 days, Musk and his team, along with the South Australian government, completed the installation of a Powerpack system with 100 megawatts of capacity on Nov. 23.

And now, it’s up and running.

SEE ALSO: This isn’t the first time Elon Musk made big promises

Representatives from Tesla, French renewable energy company Neoen, and Adelaide engineering firm Consolidated Power Projects will join South Australian Premier Jay Weatherill on Friday, local time, to officially launch the battery, although it was technically turned on Thursday, according to ABC.  Read more…

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Tesla’s new ‘Megachargers’ will give its Semis power for 400 miles in 30 minutes

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Tesla’s new Semi trucks are slated to boast a range of up to 500 miles per charge — but powering up those batteries will still be important to the truckers who have to drive long routes. 

The automaker will introduce an entirely new kind of charging station for its new big rigs: Megachargers. The units will be even more powerful than the Supercharger network Tesla already offers for its cars. 

Like the Supercharger network, the Megachargers will be built around the world to support the fleet, as Musk claimed truckers will be able to “travel anywhere in the world via the Megachargers.” Read more…

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Vespa’s first electric scooter will hit the streets in 2018

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Vespa is going green.  

The Piaggio Group, the parent company behind the iconic motor scooter brand, just announced at the Milan Motorcycle Show that Vespa will produce its first all-electric model in 2018. The Electtrica first debuted as a concept vehicle at last year’s show, but now, as more automakers embrace electrification and release all-electric and hybrid vehicles, the company will actually put the scooter on roads IRL. 

The EV doesn’t look much different from Vespa’s other offerings — it’s got the same design profile as the gas-powered Primavera, with a space-age chrome-and-blue color scheme in promo images (seven other color variations will also be produced).  Read more…

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Here’s why daylight saving time is pointless

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It’s that time of year again: “spring forward, fall back.” Losing an hour of sleep is what most people hate about daylight saving time. But the extra sunlight is often a blessing for those who hate leaving work in the dark. Do you ever wonder why we have daylight saving time, and if it actually helps us conserve energy? 

We’re here to answer the 5 most common questions about daylight saving time. Read more…

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