71–80 of 578 posts
Not to sound pedantic, but our future generations are going to come to regret this when our planet is a toasted marshmallow, because we couldn't stop being greedy.
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It's perverse, just like almost every other form of economic activity on this planet, eg. farming (fertilizer/herbicide run-off), mining (tailing ponds), factories (air/ground/water pollution). The underlying reason is simple: externalities aren't being priced in, which allows the owners of such operations to make money while everyone pays the price.
None of what you listed are similar cases. Farming produced food to eat. Mining produces minerals to build things with. Factories produce goods. Bitcoin produces... A series of bits that some people will pay money for? It seems like bitcoin is basically fine art at this point.
trust.
It's only a moral judgement that bitcoin energy use is somehow worse than say, transport, or heating, or anything else that people pay money for.
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Simpler: ban banks and credit card companies from dealing with anything related to cryptocurrency
That sounds rather rash.
Is it possible for people to source or certify sustainable Bitcoin? Since there is a transaction chain, can you choose to buy or boycott “dirty coins”?
What’s the bandwidth from a probe close to the sun with a Bitcoin miner on it? Beam back the coin, we can wait. Or, mine it near the sun and then bring it back. Could take 20 years, but the returns should be better than the SPY. We’d need a spaceship I guess with the largest solar panels ever. Park it near the sun, mine Bitcoin, come back to earth.
Mining is a race. If you have X seconds latency because you are millions of miles away, you’ll loose $Y over the long run. You can figure out the function which ties X and Y together.
This crypto-currency nonsense is getting out of hands.
When profits are being made, who cares what happens to future generations. Cryptocurrency is, for the most part, a contagion. We opened Pandora's box and the genie is out of the bottle. Short of some kind of cataclysmic black swan event, I'm not sure this insanity will end anytime soon. :(
The question is if Bitcoin will ever try to switch to it. Unfortunately, it seems like they probably won't anytime soon.
Well its the cost of a decentralized safe currency, at the end of the day its the users who pay for it, and I gladly pay for it. Keep using your fiat if you want.
Earlier quoted context omitted.
It's perverse, just like almost every other form of economic activity on this planet, eg. farming (fertilizer/herbicide run-off), mining (tailing ponds), factories (air/ground/water pollution). The underlying reason is simple: externalities aren't being priced in, which allows the owners of such operations to make money while everyone pays the price.
None of what you listed are similar cases. Farming produced food to eat. Mining produces minerals to build things with. Factories produce goods. Bitcoin produces... A series of bits that some people will pay money for? It seems like bitcoin is basically fine art at this point.
>Mining produces minerals to build things with
are you forgetting the yellow stuff that we hoard in vaults and hang on our bodies, or carbon crystals that we put on our fingers?