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RE: How Many Barrels Of Oil Are Needed To Mine One Bitcoin?
Renewable energy will cut the cost and is just another area where the US is missing the boat. China certainly took the bull by the horn and made the commitment. Leaving the environmental aspects aside, it simply is more economical to go this route.
One of the companies, perhaps it is HIVE, I read is allowing regular people to invest in much like a gold miner. They simply mine for Bitcoin and share the proceeds with all who own the stock.
Welcome to the 21st century.
IT seems like the BRICS countries are doing way better with new technologies than 'the west'.
China, India and Russia already stated interest in crypto currencies. While most politicians in Europe haven't even considered it.
Unfortunately coal is still the cheapest way to produce energy. Oil and natgas is spent in manufacturing and delivery of renewables. The negative to the article is oil is not really used to make energy. Natgas and coal are much more common methods. Where i live I enjoy .06 kwh prices and all the energy is from coal.
That is true. Oil is used mostly as a back up.