On 17/12/2017 09:39, Bernard Robertson-Dunn wrote:
The Hard Math Behind Bitcoin's Global Warming Problem
https://www.wired.com/story/bitcoin-global-warming/
In this article Adam Rogers points out that rather than use more
efficient hardware to save electricity, bitcoin miners use it to mine
more bitcoins.
This effect is well known in economics as the "Jevons paradox", from
William Stanley Jevons in 1865:
https://books.google.com.au/books?id=gAAKAAAAIAAJ&q=It+is+a+confusion+of+ideas
ps: Jevons lived for some time in Sydney:
http://www.ramin.com.au/walks/50s-Annandale-A-Short-Walk.shtml
--
Tom Worthington, MEd, FHEA, FACS CP. http://www.tomw.net.au t
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https://cecs.anu.edu.au/research/profile/tom-worthington
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