New Google Ad Jokes About the Sky-High Cost of Mining Cryptocurrencies

2018-10-10 19:00

In a recent ad about its Call Screen service, Google has revealed its feelings about Bitcoin and other cryptocurrencies, jibing at the massive electricity costs associated with mining them.

Call Screen service is a new Android feature developed by the search giant, which will help put an end to telemarketing calls. The feature, which involves Google Assistant answering a call and transcribing it for the user to help them decide whether to pick it up or not, has been explained in the ad using cryptocurrencies as a context.

Cryptocurrencies Are a Lie – Google’s Call Screen Ad

The ad explains the Call Screen feature with the help of a dialogue between two actors – Teddy and Abby. Abby tells Teddy that he’s getting a call from his electric company about his electricity bill being super high.

Teddy responds by saying that “cryptocurrency mining takes a lot of energy”. Abby then scoffs at cryptocurrencies saying that they are not “real” money, to which Teddy responds by saying that “money isn’t real.” Abby then questions Teddy: “You wanna live that lie?”

Among the various issues for which cryptocurrencies are criticised, two of the most recurring themes are the argument that cryptocurrencies are not backed by anything, and the high costs associated with cryptocurrency mining.

Jamie Dimon, CEO of JPMorgan, is one such critic, who’s said that cryptocurrency is a bubble and that it is “worse than tulips“. Jack Bogle, the legendary investor, index fund revolutionary and Vanguard founder, has argued that there is nothing to support Bitcoin except the hope that you will sell it to someone for more than you paid for it.

Bitcoin mining has also been criticised for the massive amount of energy it consumes.

According to PwC, the servers that run Bitcoin’s software require a minimum of 2.55 gigawatts, which amounts to energy consumption of 22 terawatt-hours (TWh) per year – almost as much as the energy output of Ireland. In a study conducted by economist Alex de Vries, it has been revealed that Bitcoin’s energy usage is expected to double by the end of 2018, and in the future, Bitcoin might consume as much as 5% of the world’s energy.

Given these criticisms, blockchain startups across the world are exploring energy-efficient blockchains, and cryptocurrencies backed by real-world assets such as fiat currencies and metals.

Crypto Ads – To Allow or Not to Allow

Google’s relationship with Bitcoin and other cryptocurrencies is bittersweet.

In 2017, Google’s liberal ad policy impacted the growth of cryptocurrencies positively as many crypto and blockchain startups reached out to consumers with the help of Google ads. However, in March this year, Google announced that it would be banning cryptocurrency ads.

Scott Spencer, the director of sustainable ads at Google, told CNBC at the time of the ban that:

“We don’t have a crystal ball to know where the future is going to go with cryptocurrencies, but we’ve seen enough consumer harm or potential for consumer harm that it’s an area that we want to approach with extreme caution.”

In September, Google relaxed the ad ban allowing only regulated cryptocurrency exchanges to buy ads in the U.S. and Japan. Google’s ad policy is applicable to advertisers all across the world, but they will first be required to apply for certification to serve ads in each country.

Featured image from Shutterstock.

The post New Google Ad Jokes About the Sky-High Cost of Mining Cryptocurrencies appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Speed Mining Service (SMS) íà Currencies.ru

$ 1.9622 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.00 %
Cåãîäíÿ L: $1.9622 - H: $1.9622
Êàïèòàëèçàöèÿ $205.406k Rank 99999
Öåíà â ÷àñ íîâîñòè $ 9.1882 (-78.64%)

google new cryptocurrencies mining call feature screen

google new → Ðåçóëüòàòîâ: 126


Liberals Love Immigration Unless Google or Amazon Wants to Move to Their Neighborhood

Why does the media keep reporting on Amazon, Google, and other tech giants building new offices and data centers as if their desire to expand is an affront to basic human decency? This article by Elizabeth Dwoskin at the Washington Post covers Google’s expansion into a new data center near Dallas, TX as if the author was a muckraker uncovering a dirty secret.

2019-2-18 00:30


Ôîòî:

Google: ‘Money Isn’t Real’

The search engine mogul Google subtly revealed its feelings on Bitcoin and cryptocurrencies through an ad for its new Call Screen service. ‘Well, I’ve Got News For You – Money Isn’t Real’ Google recently released an ad for its new Call Screen service which allows users to interact with callers prior to answering the phone.

2018-10-11 06:00


September in Africa: Alibaba saves wildlife and Google Partners comes to Nigeria

Pan-African ecommerce giant Jumia may be about to launch an initial public offering (IPO), if reports are to be believed, valuing the company at around $1 billion USD. According to Reuters, Jumia, which already claims to be Africa’s first “unicorn” based on how much investment it has received, is considering a possible New York listing early next year.

2018-10-2 15:55


Ôîòî:

An entrepreneur’s guide to Toronto’s tech scene

If you’re interested in the Canadian tech scene, Toronto is on your radar. Certainly the hype surrounding this tech scene is not undeserved. Among other good news to come out of Canada’s financial capital, the city has cemented its reputation as a global center for AI, thanks to a $5 million investment by Google into the Vector Institute last year and an aligned buy-in from the city’s academic, government and corporate sectors.

2018-9-28 20:44