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Why Cheap Electricity Is Important To Mining Bitcoin: Salcido Enterprises CEO Malachi Salcido | CNBC

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Malachi Salcido, Salcido Enterprises CEO, discusses how his bitcoin mining service has taken over central Washington state. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Find CNBC News on Facebook: http://cnb.cx/LikeCNBC Follow CNBC News on Twitter: http://cnb.cx/FollowCNBC Follow CNBC News on Google+: http://cnb.cx/PlusCNBC Follow CNBC News on Instagram: http://cnb.cx/InstagramCNBC Why Cheap Electricity Is Important To Mining Bitcoin: Salcido Enterprises CEO Malachi Salcido | CNBC
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Text Comments (12)
Will Power (8 months ago)
Craig Wright says City Bank uses more electricity then the entire bitcoin network, if that's true new money is much more efficient
Jody Robert Ford (9 months ago)
So, the Model A came after the Model T. Just a little side note. I know facts don't really matter.
가정교육이국가얼굴이다 (9 months ago)
대한민국 만세.~!!   https://youtu.be/YO20a53o_Sk?t=548
TravelerPat (9 months ago)
This sounds so gimmicky and against my common sense. Bitcoin is a digital currency and to create something digitally in a computer system it's actually very easy--just one or a few lines of code. The creator of Bitcoin makes the process before those few lines of code can be executed, the mining process, difficult for the sake of being difficult simply to limit the number of coins and make each coin seem more scarce and valuable. This is like a design of a computer/console game in which the the first few levels are easy and things get tougher and tougher as you progress. A lot of people are playing to this Bitcoin craze for the potential of making money without asking why this kind of gimmicks and its effects on the environment in terms of energy usage. And more and more crytos are being created each day. Think of the magnitude of the effect on the environment. We are not there yet in terms of completely renewable energy resources...
Pierre Gleize (6 months ago)
Try measuring the energy consumption other global money transfers systems (banks, visa, swift, ...), including their computers, bank branches, fuel used for transporting their employees, ... It is huge, complex, expensive and not that efficient. Bitcoin is changing that. And it's not even sure that Bitcoin consumes more electricity than those alternatives.
TravelerPat (9 months ago)
Papa Ksjs There are lots of other trains. A train that simply makes money off of other people without creating any real value to the world and instead wastes electricity, I don't wanna be a part of.
paul gp (9 months ago)
Another one who missed the train? Cute.
TravelerPat (9 months ago)
Som fss People who are rude to others who have different opinions can't be taken seriously, man. It shows a lack of education and good judgement. And power to people? Wait until your coins get stolen. Then, power to the hackers who are free to use your coins anonymously.
Som fss (9 months ago)
stfu you tree hugger-crypto is about power to people once we have that we can worry about trees
Deff Pluto (9 months ago)
after that interviewer's arrogance ceiling look, the guy slam the S.Korea fake news with reality LMAO
Douch bag (9 months ago)
Litecoin
Better Help Shenanigans (9 months ago)
Crypto currency is one form of financial colonialism replacing the old system of financial colonialism.