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Updated figures on BTC costs
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jzarnett committed Jul 13, 2024
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2 changes: 1 addition & 1 deletion lectures/L23-slides.tex
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Expand Up @@ -326,7 +326,7 @@ \part{Bitcoin Mining}

\begin{center}
\includegraphics[width=\textwidth]{images/Bitcoin-usage.png}\\
\hfill https://digiconomist.net/bitcoin-energy-consumption As of Dec 2019
\hfill https://digiconomist.net/bitcoin-energy-consumption As of July 2024
\end{center}


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2 changes: 1 addition & 1 deletion lectures/L23.tex
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Expand Up @@ -125,7 +125,7 @@ \section*{GPU Application: Password Cracking}
Yikes. There is obviously a little bit more complexity to how the rainbow tables work (such as dealing with collisions and loops), but it is clear just how devastatingly effective GPU computations are on breaking passwords.

\section*{The World is Not Enough}
GPUs are great at this, but there are some problems where even the GPU isn't quite the right choice. You have probably guessed it; we're going to talk about Bitcoin. Let's get it out there: I don't think you should mine Bitcoin. This tweet sums up how I would explain Bitcoin to my parents: \url{https://twitter.com/theophite/status/1030225104234373121?lang=en}... and in any case it's pretty uneconomic to mine it and it's terrible for the environment. At the time of writing, the Bitcoin network's carbon footprint is comparable to that of the entire country of Denmark and it uses electricity comparable to the entire power consumption of the country of Austria (source, and for updated figures, see: \url{https://digiconomist.net/bitcoin-energy-consumption}). Alright, enough of that: if you want to know more about why you shouldn't mine Bitcoin, talk to me after class.
GPUs are great at this, but there are some problems where even the GPU isn't quite the right choice. You have probably guessed it; we're going to talk about Bitcoin. Let's get it out there: I don't think you should mine Bitcoin. This tweet sums up how I would explain Bitcoin to my parents: \url{https://twitter.com/theophite/status/1030225104234373121?lang=en}... and in any case it's pretty uneconomic to mine it and it's terrible for the environment. At the time of writing, the Bitcoin network's carbon footprint is comparable to that of the entire country of Uzbekistan and it uses electricity comparable to the entire power consumption of the country of Poland (source, and for updated figures, see: \url{https://digiconomist.net/bitcoin-energy-consumption}). Alright, enough of that: if you want to know more about why you shouldn't mine Bitcoin, talk to me after class.

Our guide in this section is~\cite{bitcoin}, a paper that roughly overviews the history of Bitcoin, how it works, and the trend of mining rigs.

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