71–80 of 325 posts
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The planet doesn’t care, it will go on. With climate change, humans are at risk, not the planet.
Humans are at risk of resource shortages. Many species are facing extinction. Nothing bad will happen to the dirt, but if 'planet' means 'biosphere' then it's at the most risk.
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Yeah but if California banned mining in the state during the gold rush, not many shovels or picks would be sold.
I mean, China is not the only place you can mine Bitcoin...
That said, reducing the energy consumption of Bitcoin should be an absolute priority. Lightning Network and other such technologies help.
Good. There are few things more wasteful in energy and minimal in doing good for the world. Widespread bitcoin adoption would be catastrophic for the Earth and climate change efforts [1]. [1] https://www.nature.com/articles/s41558-018-0321-8
Why don't people rail like this against the aluminum industry? It's just as wasteful. Bitcoin provides substantial utility and value to society, the energy to secure bitcoin is a cost just the same as the energy to smelt aluminum.
Only for speculation and money laundering. Bitcoin's exaggerated volatility makes it unusable as a currency. If it would you wouldn't be making fun of the guy who spent N bitcoins on 2 pizzas instead of holding it. And conversely, if everyone would hold bitcoin, it wouldn't bring any utility to society.
Good. There are few things more wasteful in energy and minimal in doing good for the world. Widespread bitcoin adoption would be catastrophic for the Earth and climate change efforts [1]. [1] https://www.nature.com/articles/s41558-018-0321-8
there are few things on this planet that are less wasteful and more useful/important for our civilization than bitcoin. it's the first time in history we've been able to express and implement monetary value and security thereof in terms of pure energy without any middlemen.
Good. There are few things more wasteful in energy and minimal in doing good for the world. Widespread bitcoin adoption would be catastrophic for the Earth and climate change efforts [1]. [1] https://www.nature.com/articles/s41558-018-0321-8
Why don't people rail like this against the aluminum industry? It's just as wasteful. Bitcoin provides substantial utility and value to society, the energy to secure bitcoin is a cost just the same as the energy to smelt aluminum.
Equating the cost of Bitcoin and aluminum doesn't seem like a sound argument unless you can also equate the value (or show that they are approximately close.
Could you credibly claim Bitcoin brings the nearly the same value to society that aluminum does?
Good. There are few things more wasteful in energy and minimal in doing good for the world. Widespread bitcoin adoption would be catastrophic for the Earth and climate change efforts [1]. [1] https://www.nature.com/articles/s41558-018-0321-8
there are few things on this planet that are less wasteful and more useful/important for our civilization than bitcoin. it's the first time in history we've been able to express and implement monetary value and security thereof in terms of pure energy without any middlemen.
When people realize that Bitcoin mining is a mechanism to prevent fraud, the energy consumption suddenly makes a lot more sense. How much waste in the world is the result of fraud and lack of trust? Quite a lot of it. That said, reducing the energy consumption of Bitcoin should be an absolute priority. Lightning Network and other such technologies help.
If you buy counterfeit goods with bitcoin there's not much you can do. A credit card protects you from fraud over $50.
What exactly is this bitcoin waste getting us?
Earlier quoted context omitted.
there are few things on this planet that are less wasteful and more useful/important for our civilization than bitcoin. it's the first time in history we've been able to express and implement monetary value and security thereof in terms of pure energy without any middlemen.
If you exclude gold and every other physical commodity ever.