Viewing profile — bitcoinmonger

I don't know how anyone can defend cryptocurrencies after reading this lucid argument. I hope this provokes more discussion on the problem. Excellent work again from Stephen Diehl.…

Electric vehicles are a disaster for the environment. The hype around them is insane.

Correction: you need more energy than Norway to attack the system.

Why does it cost so much energy to make a single transaction? Can anyone explain why it's so inefficient, and why nobody has thought to try and improve it?

Has anyone considered the environmental impact of electric vehicles? The electricity is generated in the most part by fossil fuels, so how are they in any way a green alternative?

Why is this being downvoted? There needs to be a conversation about the inefficient energy usage of Bitcoin. Are we just going to ignore it?

> How, exactly, would one argue that? Banks use energy.

Why not just perform a 51% attack? That's the obvious weakness.

This is a big win for the environment. Government currency dramatically reduces the amount of energy wasted in running a cryptocurrency, so this should replace them. Anyone advocat…

Whilst simultaneously boiling the oceans.

Are you suggesting that the energy usage of Bitcoin prevents attack, and that more energy usage would prevent government-scale attacks? This seems to insinuate that the energy usag…

Quantum computers breaking the underlying cryptography. Governments can try and regulate it, but it wouldn't kill it.

Why is this comment being downvoted? We need to have these conversations about energy usage until a solution is found.

We need more people with years of experience in finance to warn against the risks of cryptocurrency. The existing financial system has been designed fairly and has systems in place…

It's not quite the number of zeros. The hash digest is interpreted as a 256 bit integer, and this has to be below another 256 but integer (the target) for the block to be mined. So…

This needs to be brought to an end. The energy usage of Bitcoin has been discussed ad nauseum, and I think we've all concluded that it serves no useful purpose. The current banking…

You sound like you're the type of person who would enjoy working for yourself instead of for someone else. Have you ever considered it?

Like rats off a sinking ship.

It's safer for everyone if government controls the currency we use.

It's security issues like this that are the reason why we should not allow anyone to have complete control of their money. Another nail in Bitcoin's coffin.

I don't understand why Bitcoin has been designed to burn fossil fuels when it should just as easily be able to be run using green energy. Until this is changed I can't see cryptocu…

Why is Bitcoin still allowed to exist? It's clear from the conversations over recent weeks that it's a waste of energy.

Are we just going to ignore the environmental impact of Bitcoin?

This will not be good for the environment.

I don't think we want to live in a society where individuals have complete control over their money, which is was cryptocurrencies like Bitcoin enable.