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Bill Gates Says that Bitcoin is bad For the Planet

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Re: Bill Gates Says that Bitcoin is bad For the Planet

#161

Post by nelsontodd »

lmilcin wrote: post #137
nelsontodd wrote: post #72

Earlier quoted context omitted.

With bitcoin, you are paying for security. I know if I send you a bitcoin transaction there is a high probability it won't be reverted in our lifetime, possibly ever. I'm not a maxi but these new projects don't have that guarantee yet; likely they never will.

This is repeatedly cited delusional conclusion. The reality is that consensus only requires people to agree on something. It does not require burning tons of energy or military action. Prisoner's dilemma is only a thing if you consider finite games, ie. played for your immediate benefit. If you consider an infinite game (for example the good and survival of humanity in perpetuity), it can be clearly shown that there…

Well. Have fun inventing the protocol where we all just agree to play nice w/o military force (incl police) or PoW. I'm not really sure how this would work

Re: Bill Gates Says that Bitcoin is bad For the Planet

#162

Post by adolph »

“Bitcoin uses more electricity per transaction than any other method known to mankind, and so it’s not a great climate thing"

The article doesn't compare electricity usage of other transaction methods and their relative qualities on balance to energy consumption. This makes it difficult to evaluate Gate's claim. Maybe he said more in Clubhouse but as it stands its an assertion without evidence.

For example, my assumption is that paper checks would have relatively high overall energy consumption and that society has thought the costs worth it.

In the larger picture, the article and Gates apparently see electrical utilization as waste, which seems short-sighted. For example, computations performed with geothermal energy available in Iceland can support people around the world. Or similar to a co-generation plant bitcoin mining could be performed to soak up base load that must be used during off hours.

Re: Bill Gates Says that Bitcoin is bad For the Planet

#163

Post by akudha »

Pungsnigel wrote: post #117
akudha wrote: post #90

Earlier quoted context omitted.

If I want to learn blockchain, would these two be good projects to start with?

I started with a combination of crypto basics + bitcoin and Cardano. The combination was great imo.

Do you work in the blockchain space now? Is there a way I can get in touch with you?

Re: Bill Gates Says that Bitcoin is bad For the Planet

#164

Post by whoisninja »

tw04 wrote: post #142
whoisninja wrote: post #74

Steve Balmer and Bill also used to call Linux a cancer but look now: https://www.bloomberg.com/news/articles/2021-03-07/hackers-b... their OS filled with malicious stuff and who knows what kind of backdoors is when exploited by hackers, they blame it on China rather than taking responsibility of putting users at risk with vulnerable OS

I guess I don't follow the "Look now". Every large piece of software has security vulnerabilities. If MS were refusing to patch their software I guess you'd have a point - the fact they released a patch and people who didn't apply it are getting exploited isn't really relevant to whether or not bitcoin is bad for the planet. >their OS filled with malicious stuff and who knows what kind of backdoors is when exploited…

https://www.gnu.org/proprietary/malware-microsoft.html

Re: Bill Gates Says that Bitcoin is bad For the Planet

#167

Post by adflux »

rawtxapp wrote: post #82
adflux wrote: post #8

I feel like it's a matter of time until the central banks release a coin (gold backed?) and kick Bitcoin and all other crypto's out. Keeps them in power, uses the advantages of crypto.

Central banks will never truly produce a blockchain based crypto, they won't be able to control it and they will also never make it gold backed, they can't control it.

Blockchain =/= decentralized, read: Tether. Most popular stablecoin, yet one guy holds the power to create, alter or delete wallets/coins. Something that runs on the blockchain can be controlled by a singular entity.

Re: Bill Gates Says that Bitcoin is bad For the Planet

#168

Post by Qwertious »

whoisninja wrote: post #74

Steve Balmer and Bill also used to call Linux a cancer but look now: https://www.bloomberg.com/news/articles/2021-03-07/hackers-b... their OS filled with malicious stuff and who knows what kind of backdoors is when exploited by hackers, they blame it on China rather than taking responsibility of putting users at risk with vulnerable OS

By this same logic, we can ignore Bill Gates saying COVID is bad. Or that literal cancer is bad, for that matter.

I don't see how this logic is useful.

Re: Bill Gates Says that Bitcoin is bad For the Planet

#170

Post by tonetheman »

brighton36 wrote: post #14
kitcar wrote: post #11

Bitcoin is an almost perfect exploitation of humanities fatal flaws (greed, unwillingness to acknowledge externalities - i.e. selfishness). It's that old SF-trope that the cause of many of humanity's biggest problems is humans.

Everyone needs a thneed.

OMG .... I wish there were rewards ... something. Exactly this comment! Good job.
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