Better promote 'non-shit' shitcoins then instead? Because this 'plan' won't really work/do much.
Green hackers around the world, let’s destroy Bitcoin
11–20 of 266 posts
Re: Green hackers around the world, let’s destroy Bitcoin
#12I supported bitcoin when it first came out because I support the idea of decentralised, trustless money. Far too much money is redirected into the hands of financial workers who are not adding any value to the economy. Finance is good and necessary, but the way it currently works is not. But bitcoin simply does not work as money. There is really no doubt about this. Even the biggest proponents of bitcoin right now ca…
Completely agree. The core tenet has been lost. Monero is closer to digital private money than anything else right now. And in my view, worth the cost of POW.
Re: Green hackers around the world, let’s destroy Bitcoin
#13Let us use Solar Power to mine the coins.
Re: Green hackers around the world, let’s destroy Bitcoin
#14> If a group of hackers (real or fake) announced an impending attack, the price of Bitcoin would likely collapse. Look further: What would happen after the attacks failed, when not even the green hackers can do anything to their network ? Nobody can currently shut it down, that's also why it is valuable.
There's literally an internet requirement for it, to use it.
Also, using it locally has a delay of several days for being "up to date". So in practise, security for most people is dependant on 3rd parties.
Re: Green hackers around the world, let’s destroy Bitcoin
#15Let us use Solar Power to mine the coins.
Go ahead. Won't really make a difference. There's no authority to force miners to go solar. And even if they did so, energy markets are very liquid, so increased demand overall increases the pollution produced by energy production market wide. If miners started building massive new solar installations, that would help, but again that's just clean energy someone else could have used for something else. There's no particularly compelling case for miners to go solar vs. other users of electricity.
Re: Green hackers around the world, let’s destroy Bitcoin
#16I supported bitcoin when it first came out because I support the idea of decentralised, trustless money. Far too much money is redirected into the hands of financial workers who are not adding any value to the economy. Finance is good and necessary, but the way it currently works is not. But bitcoin simply does not work as money. There is really no doubt about this. Even the biggest proponents of bitcoin right now ca…
We do need digital gold to be able to have market of cryptocurrencies that are actually in use and not just being speculated on with fiat. Sidechains enable that.
The whole waste argument is ridiculous on so many levels. I imagine these people shouting at people houses - turn off that AC! You are wasting energy for which you have paid! We could have made so many aluminum cans with that!
And if you say that sure, let's have digital gold, but not Bitcoin, let's use Foo. Then without sidechains all value in Bitcoin gets destroyed. And I assure that there will be Bar that's going to be pareto optimal to Foo. It just doesn't work. To have a currency, it needs to represent some value. If it's not coming from a government, then people must trust the value will stay there (there's almost always a lot of trust involved in our value assignments).
Bitcoin is sooo far from perfect. But you can't have crypto future without it if you think long enough about it. Also on the long run, with everything being connected to the Internet and silicon being cheap, I think many heating elements will also be doing some computation. The fact that they are not - that is a waste.
Re: Green hackers around the world, let’s destroy Bitcoin
#17As a Bitcoin proponent who is also concerned about it's long term sustainability, this post is an embarrassing read.
The author clearly has a very poor understanding of what value Bitcoin currently has in our current macro-economic situation, and why investors (and corporations) are choosing to allocate larger parts of their portfolios in cryptocurrencies.
Calling out the BTC network on its energetic inefficiency completely misses the point that the work put into the network is exactly the scarce digital asset, and hence the store of value.
Re: Green hackers around the world, let’s destroy Bitcoin
#18I supported bitcoin when it first came out because I support the idea of decentralised, trustless money. Far too much money is redirected into the hands of financial workers who are not adding any value to the economy. Finance is good and necessary, but the way it currently works is not. But bitcoin simply does not work as money. There is really no doubt about this. Even the biggest proponents of bitcoin right now ca…
Completely agree. The core tenet has been lost. Monero is closer to digital private money than anything else right now. And in my view, worth the cost of POW.
Yeah, although a bunch of work on Monero is still a result of work from people that worked on Bitcoin.
There's some independent research there but AFAIK Bitcoin people did not stop working on confidential transactions or fungiblity.
Just explaining that the core tenet was not lost, but that it was still not researched. Bitcoin jump started a research movement that reaped all kinds of cryptocurrency variants as time went on.
https://electroneropulse.org/public/doc/Bulletproof%20RingCT...
Here's a paper whose coauthors belong to the Bitcoin team discussing efficient confidential transactions that were eventually implemented in Monero (not by the Bitcoin team).
Re: Green hackers around the world, let’s destroy Bitcoin
#19It would be easier to target and lobby politicians to ban crypto exchanges. A stranded asset isn't worth much.
Re: Green hackers around the world, let’s destroy Bitcoin
#20This post, aside from being very hopeful, misses one crucial point about bitcoin: its users don't give a shit about it being bad for transactions, or being slow. All they care about is that big number goes up and gets green.
The amount of bitcoin users that are truly excited about its potential for a decentralized currency are few. When 90% of the mining power is held by chinese farms... These guys do not care about decentralization.
As much as I wish we could destroy bitcoin because of how utterly fucking useless it is, the fact is, we now have to deal with people wasting this energy, forever.