There has been a lot of talk about energy consumption in regards to mining and transactions. I like to believe that the core heart of crypto would like to steer towards a greener path. There are plenty of ICOs trying to fund their projects to do so. But the current tech that's available just isn't efficient enough! Soon, we will have something tangible and people will look back at this article - in fact I will most likely post similar content in the future. We are developing world changing technologies that will get us all off fossil fuel electricity for good. Plain and simple.
Most new people coming into crypto trading wonder why there are fees. And, of course, none of us like fees but once we understand our transactions can't happen without miners we accept the fees for what they provide. The thing is a lot of those fees are for overheads like electric bills. So the power companies are getting a piece of the pie. A big piece of the pie. Resources better spent on more investment. Not to mention the risk all miners face with power outages. And having an effective back up supply like generators and batteries can be very expensive.
As I'm sure most of you are all aware the criticism Bitcoin mining and transactions has received over its alleged energy consumption. For those who don't - Energy consumption for 1 BTC transaction has been compared to 100,000 Visa transactions - shown in this digiconomist article ( https://digiconomist.net/bitcoin-energy-consumption ). Probably bias. Nonetheless, miners have to run their equipment which alone consumes large amounts of energy alone. Keeping a facility cool enough to run at optimal performances is another challenge miners face driving up electric or gas bills. Regardless of the credibility for such claims, miners still face huge electricity bills and in turn Users are stung for the services. If a transaction cost miners a fraction of what it does today, transaction fees could also be a fraction. We seek to remove fees almost completely (apart from labor/services).
We can't be a decentralized currency system using centralized bank-owned energy.
https://i.redd.it/2pz2t690utz01.jpg
There is a simple solution to this problem and that is renewable energy. Not just any renewable energy but unmetered localized and truly clean energy, that any miner could possess and be literally off-the-grid (apart from WiFi of course). On that point, not to mention the security implications that will greatly benefit the crypto world with localized free energy... GAEA has technology that will provide this unmetered electricity. You may be wondering what we mean exactly. Its not solar power or wind turbines - that stuff just isn't efficient enough. We have a Radiant Power Panel (RPP) which harnesses stellar radiation - charging capacitors and batteries or even directly providing energy. Some may call us crazy and that may be true, but others love us.
Thank you for reading and have a great day!
Submitted May 25, 2018 at 12:08AM by GAEA_Research http://bit.ly/2IHOtEM
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