or persons responsible are referred to by the name Satoshi Nakamoto. • Bitcoins come into being as a result of brute force computing by miners • The bitcoin ledger and system are decentralized. • Bitcoins can be transferred person
money system and provides for extremely anonymous transactions. • Therefor, the ideology that bitcoin is most associated with is anarcho/libertarianism • The Nakamoto entity wrote “The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breeches of that trust.” • Economist Paul Krugman on crypto: “Something of a cult based on fantasies of government power. • Yale economist Shiller “Bitcoin in its present form doesn’t really solve any sensible economic problem.”
3 or 4 gigawatts. For reference, a conventional U-235 fission plant produces approximately 1 gigawatt each. *Crime: A team of Australian researchers in 2017 estimated that 25% of all bitcoin users and 44% of all bitcoin transactions were directly associated with illegal activity. *Speculative bubble: Bitcoin’s price action and its and underlying utility (or lack thereof) raise concern for bubbliness.
conventional batteries is dominated by lithium-ion (the same kind that is in smart phones and teslas). Technological advances have led to large decreases in the cost of manufacture. • Other kinds of batteries including molten salt and solid state batteries are under development but are not commercially available (except for molten sodium sulphur). • A common problem that renewables share with nuclear plants is that their production cannot be timed. Renewables work only when God allows them to. Nuclear plants have the opposite problem: Once you turn it on, slowing its production doesn’t really save any money.
most commonly used grid battery in the world. • Total world capacity measured in gigawatts, all other sources combined measured in megawatts. • Efficiency is approximately 70-85%. • This beats compressed air handily, however that might not be true if compressed air with heat capture is developed.
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