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The Crypto-Chernobyl

stephendiehl.com

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Re: The Crypto-Chernobyl

#2

Post by emteycz »

All this talk about waste without mentioning waste electricity one single time. Why nobody puts any thought into these criticisms? Anybody can calculate the total energy consumption and we've seen it a million times already. How about uncovering where that energy actually (not theoretically) comes from?

Re: The Crypto-Chernobyl

#3

Post by devname »

The energy usage is for mining new bitcoin and collecting fees, not "7 transactions per second". Newly mined bitcoin will be used for infinite future transactions.

If you want more settlement with same store-of-value properties, use Bitcoin Cash.

Re: The Crypto-Chernobyl

#5

Post by justforyou »

It's disengenuous to make that argument without a comparison to the full manifold energy consumption required to support fiat cash... (including things like burning gasoline and jet fuel to move paper and metal for shredding/melting.)

Re: The Crypto-Chernobyl

#6

Post by paul_f »

justforyou wrote: post #5

It's disengenuous to make that argument without a comparison to the full manifold energy consumption required to support fiat cash... (including things like burning gasoline and jet fuel to move paper and metal for shredding/melting.)

I don't think we need a detailed study for most everyone to accept that fiat cash is several orders of magnitude less energy costly than bitcoin

Re: The Crypto-Chernobyl

#7

Post by tal8d »

The whole "Cryptographically securing your currency is wasteful, you should fold proteins!" talking point has popped up several times over the years, despite the fact that it is silly to complain about when considered in relation to the present solution.

> Whataboutism arguments regarding traditional currencies and the financial sector are a completely absurd response. Yes, a real currency like the Euro and by proxy the Eurozone absolutely emits more CO2 than bitcoin.

lol, and there it is.

I've never seen such a concerted effort to hammer this misinformation into peoples heads as I have for the last few days. Like I said, the concern has been raised and addressed before, but this volume of messaging is new.

Re: The Crypto-Chernobyl

#9

Post by dcolkitt »

An off-topic segue since Stephen Diehl is being linked... Does anyone know if he plans to finish his exotic programming ideas series? He was suppose to do one every week, but stopped with three left in early December. I quite enjoyed the series, and was hoping he'd get around to the remainder.
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