{"id":5983,"date":"2022-06-13T07:37:12","date_gmt":"2022-06-13T05:37:12","guid":{"rendered":"http:\/\/costops.com\/index.php\/2022\/06\/13\/as-energy-prices-soar-the-bitcoin-miners-may-have-struck-fools-gold-john-naughton\/"},"modified":"2022-06-13T07:37:12","modified_gmt":"2022-06-13T05:37:12","slug":"as-energy-prices-soar-the-bitcoin-miners-may-have-struck-fools-gold-john-naughton","status":"publish","type":"post","link":"http:\/\/costops.com\/index.php\/2022\/06\/13\/as-energy-prices-soar-the-bitcoin-miners-may-have-struck-fools-gold-john-naughton\/","title":{"rendered":"As energy prices soar, the bitcoin miners may have struck fool\u2019s gold | John Naughton"},"content":{"rendered":"

The rising price of electricity and the plunging value of the cryptocurrency could burst the speculative bubble for today\u2019s prospectors<\/p>\n

In the bad old days, prospecting for gold was a grisly business involving hysterical crowds, pickaxes, digging, the wearing of appalling hats, standing in rivers panning for nuggets, \u201cstaking\u201d claims and so on. The California gold rush of 1848-55<\/a>, for example, brought 300,000 hopefuls to the Sierra Nevada and northern California and involved the massacre of thousands of Indigenous people<\/a>.<\/p>\n

In our day, the new gold is bitcoin<\/a>, a cryptocurrency, and prospecting for it has become a genteel armchair activity, although it is called \u201cmining\u201d, for old times\u2019 sake. What it actually involves is using computers to perform unfathomably complicated calculations to create cryptographic \u201chashes\u201d<\/a> \u2013 codes that are, in practical terms, uncrackable.<\/p>\n

Continue reading…<\/a>
\nThe rising price of electricity and the plunging value of the cryptocurrency could burst the speculative bubble for today\u2019s prospectors
\nIn the bad old days, prospecting for gold was a grisly business involving hysterical crowds, pickaxes, digging, the wearing of appalling hats, standing in rivers panning for nuggets, \u201cstaking\u201d claims and so on. The California gold rush of 1848-55, for example, brought 300,000 hopefuls to the Sierra Nevada and northern California and involved the massacre of thousands of Indigenous people.
\nIn our day, the new gold is bitcoin, a cryptocurrency, and prospecting for it has become a genteel armchair activity, although it is called \u201cmining\u201d, for old times\u2019 sake. What it actually involves is using computers to perform unfathomably complicated calculations to create cryptographic \u201chashes\u201d \u2013 codes that are, in practical terms, uncrackable. Continue reading…Technology | The Guardian<\/p>\n","protected":false},"excerpt":{"rendered":"

The rising price of electricity and the plunging value of the cryptocurrency could burst the speculative bubble for today\u2019s prospectors In the bad old days, prospecting for gold was a grisly business involving hysterical crowds, pickaxes, digging, the wearing of appalling hats, standing in rivers panning for nuggets, \u201cstaking\u201d claims and so on. The California …<\/p>\n

As energy prices soar, the bitcoin miners may have struck fool\u2019s gold | John Naughton<\/span> Read More »<\/a><\/p>\n","protected":false},"author":0,"featured_media":5984,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/5983"}],"collection":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/comments?post=5983"}],"version-history":[{"count":0,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/5983\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media\/5984"}],"wp:attachment":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media?parent=5983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/categories?post=5983"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/tags?post=5983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}