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CloudJumper@ani.social to Technology@lemmy.worldEnglish · 5 months ago

The Rise of Digital Currencies: What It Means for Traditional Banking

wealthari.com

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The Rise of Digital Currencies: What It Means for Traditional Banking

wealthari.com

CloudJumper@ani.social to Technology@lemmy.worldEnglish · 5 months ago
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The Rise of Digital Currencies: What It Means for Traditional Banking - Wealthari
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Digital currencies are fundamentally changing the way we think about money and banking. The rapid rise of cryptocurrencies like Bitcoin, along with the
  • 0x0@programming.dev
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    5 months ago

    I’m sure a single mainframe consumes considerably more that some mining farms.

    • catloaf@lemm.ee
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      5 months ago

      Define mainframe, because modern mainframes are just sets of regular rack servers (or rack form factor chassis servers). If you mean the old ones then yes, because they’re far less power efficient.

    • zergtoshi@lemmy.world
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      5 months ago

      You’re dead wrong.
      Have you ever heard of Bitcoin mining farms? Their electric energy consumption dwarfs a league of mainframes.
      Am IBM Z16 may need several dozen kW at full load: https://www.ibm.com/docs/en/systems-hardware/zsystems/Z16M-A01?topic=requirements-general-electrical-power
      Fully equipped with 8 PDUs and 4 BPAs a single mainframe is limited to an electric power of 173 kW.

      Well, the Bitcoin miners are estimated to use around 175 TWh of energy annually, which equals an electric power of around 20 GW : https://www.statista.com/statistics/881472/worldwide-bitcoin-energy-consumption/
      This is several orders of magnitude above that of all the mainframes in the world - unless there are more than 116 million mainframes of that type in operation and running at full load.

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