Future sponsorship?

[Grantysghost]

One thing I have always wondered/been confused about. When they talk about mining in regards to crypto currency or block chain does that mean that somebody somewhere is digging a hole in the ground or is it more of a virtual mine?

It's just a euphemism / virtual.

I assume because you get a "coin" they came up with the mining paradigm.

[The Adelaide Connection]

Blockchain tech is almost impossible to tamper with so it is trusted to manage the data in the blocks (unit of data).

For crypto like Bitcoin, much like a bank is trusted in our society to record transactions (the ledger of transactions, eg you transferred 20 bucks to the Bulldogs for a scarf) , the block chain is trusted to maintain the ledger for bitcoin transactions, and without going into detail you can't tamper with it and its decentralised across the network (no one person has the power).

Where the environmental issue comes in is to process a block in the chain you use compute resources (think your CPU in your PC, it's called mining) to solve a complex puzzle the network provides as an entry fee; the reward for getting it right is you become the banker (process the transaction) and you receive bitcoin.

So the more processing power you have (think clusters of computers joined together all working on this puzzle to get coins) the more chance of solving the puzzle and being rewarded, and the more energy you need. If your energy is derived from fossil fuels then there's your issue.

They estimate bitcoin mining uses more power than some small countries.

But it's essential to "power" the network and process the transactions and it gets increasingly harder as the network tries to control the rate of bitcoin creation (it's finite).

Hope that makes sense?

I am not into Crypto, but I did see that Elon Musk spoke out publicly about this last week and reversed the decision to let people buy Tesla’s with Bitcoin owing to how horrific the mining of this particular coin is environmentally (which kinda goes against their ethos). This was apparently the start of some volatility and pretty huge losses across the crypto world in the last week or so.

There are apparently some much ‘greener’ alternatives to Bitcoin that use a fraction of the energy to mine. I could have this wrong, but it sounds like because it was the first (one of the firsts?), Bitcoin is a bit of a fossil and the tech is a bit outdated (works slower, needs more resources to mine, etc.).

[EasternWest]

I am not into Crypto, but I did see that Elon Musk spoke out publicly about this last week and reversed the decision to let people buy Tesla’s with Bitcoin owing to how horrific the mining of this particular coin is environmentally (which kinda goes against their ethos). This was apparently the start of some volatility and pretty huge losses across the crypto world in the last week or so.

There are apparently some much ‘greener’ alternatives to Bitcoin that use a fraction of the energy to mine. I could have this wrong, but it sounds like because it was the first (one of the firsts?), Bitcoin is a bit of a fossil and the tech is a bit outdated (works slower, needs more resources to mine, etc.).

It's weird to me that Tesla care about the environment when Musk hates his workers.

[Grantysghost]

I am not into Crypto, but I did see that Elon Musk spoke out publicly about this last week and reversed the decision to let people buy Tesla’s with Bitcoin owing to how horrific the mining of this particular coin is environmentally (which kinda goes against their ethos). This was apparently the start of some volatility and pretty huge losses across the crypto world in the last week or so.

There are apparently some much ‘greener’ alternatives to Bitcoin that use a fraction of the energy to mine. I could have this wrong, but it sounds like because it was the first (one of the firsts?), Bitcoin is a bit of a fossil and the tech is a bit outdated (works slower, needs more resources to mine, etc.).

Yes I think the issue with Bitcoin's system is the puzzle you need to solve becomes increasingly more complex requiring more compute requiring more power.
So at beginning (yes my friends told me and I ignored them) people were doing parallel processing (mining) with home made rigs.
A few motherboards in milk crates linked together; a home made compute cluster. They were getting Bitcoins back in 2010 doing this.
Now it would take the same rig 1000 years or something (complete guess to explain).
Newer currencies have probably learnt from this.

[Grantysghost]

It's weird to me that Tesla care about the environment when Musk hates his workers.

Elon's workflow loop :

Buy => Endorse => Sell => Discredit

[comrade]

Elon's workflow loop :

Buy => Endorse => Sell => Discredit

Funny Elon cares so much, but doesn’t mind destroying the environment and exploiting his workers to extract basalt for his batteries.

[bulldogtragic]

Good week to buy the rear of the jumper. Stock soared.

[Twodogs]

Good week to buy the rear of the jumper. Stock soared.

Ironically the last time that we beat St Kilda by 100+ points we had announced a major sponsorship in the week leading up to it. It was in 1978 and we had just announced the Pyrox (home heaters) sponsorship.

[bornadog]

Ironically the last time that we beat St Kilda by 100+ points we had announced a major sponsorship in the week leading up to it. It was in 1978 and we had just announced the Pyrox (home heaters) sponsorship.

I love your stories TD, please don't change

[Twodogs]

I love your stories TD, please don't change

There was an advert on TV showing the players in the dressing room after training all standing around a newly installed heater. I reckon that Geoff Jennings and Kelvin Templeton got speaking parts. I can only remember seeing it a couple of times.

[Bulldog4life]

Where I live.

More than 30 businesses in Agnes Water and the Town of 1770 in central Queensland now accept cryptocurrency as a form of payment, with the beach community billing itself as Australia's first "digital currency-friendly" tourist town.

The aim is to attract a niche market of international tourists, who can pay for goods with digital currency like bitcoin that can be instantly converted to Australian dollars.

This started in 2018 and nearly all businesses accept it now.

https://www.abc.net.au/news/2018-06-...y-town/9828306

[Prince Imperial]

There was an advert on TV showing the players in the dressing room after training all standing around a newly installed heater. I reckon that Geoff Jennings and Kelvin Templeton got speaking parts. I can only remember seeing it a couple of times.

Same here. It was exciting as a boy to see our team on the tele as Channel 7 ignored us most of the time.

[LostDog]

I'm into crypto can't stress enough that whilst not good at the minute XRP got 20k invested

[Grantysghost]

Ironically the last time that we beat St Kilda by 100+ points we had announced a major sponsorship in the week leading up to it. It was in 1978 and we had just announced the Pyrox (home heaters) sponsorship.

That's the first sponsor I remember, classic. I remember we had KB lager maybe next?

Found this on ebay ah the memories :

[Happy Days]

While we’re on the subject, something I’ve always wanted to know is what on earth was up with our jumper sponsors in 2002? Seemed like we had a different one each week.