Ethereum will use around 99.95% less energy post merge

Post by f6v » Tue, May 18, 2021, 3:32 PM UTC

bufferoverflow wrote: post #141

roel_v wrote: post #75

Maybe this is a good time and place to ask - let's say I want to buy something using Ethereum. Is it correct that when I look at, say, https://ycharts.com/indicators/ethereum_average_transaction_... , you have to pay USD 20 just as payment fees? I wrote off Bitcoin as a payment mechanism a long time ago because of this (although it seems BTC tx costs are now lower than ETH?), is this the direction tx costs for all cr…

No, there are coins like Bitcoin Cash that have ridiculously low fees and are accepted in tons of physical stores across the world. BTC refuses to scale, Lightning is permanently broken. Ethereum will reduce the fees with sharing, but that will take time.

Post by dd36 » Tue, May 18, 2021, 3:32 PM UTC

Aqua wrote: post #159

DCKing wrote: post #133

Good. Very good. This may be a radical take, but I think nations should introduce some unprecedented legislation: ban trade of proof-of-work cryptocurrencies. Don't ban their trade because they make poor financial products, either because of rampant fraud or criminal activity. That's a different argument and requires different approaches. Ban their trade because global society shouldn't accept rampant incentives to l…

I cringe every time I see such comments. Ban bitcoin or ban beef because it uses too much energy. Humanity will continue to require energy as it advances and banning anything "because it uses too much energy" is a ridiculous advice. How about we ban gold mining, or set quotas on the number of children people may have, that will surely contribute to our CO2 reduction goals. It's also Orwellian and reminiscent of how t…

Post by chrischattin » Tue, May 18, 2021, 3:33 PM UTC

dboat wrote: post #152

DCKing wrote: post #133

Good. Very good. This may be a radical take, but I think nations should introduce some unprecedented legislation: ban trade of proof-of-work cryptocurrencies. Don't ban their trade because they make poor financial products, either because of rampant fraud or criminal activity. That's a different argument and requires different approaches. Ban their trade because global society shouldn't accept rampant incentives to l…

Many industries do a lot of harm to the environment for profits. On the spectrum of those, where do cryptos fall? I don't know and personally hold only a little bit, nothing I would be very pained to lose, but it would certainly cause a lot of economic harm to a lot of people to do what you propose. The idea cannot be taken seriously without first answering my question.

Post by jaggs » Tue, May 18, 2021, 3:33 PM UTC

tootie wrote: post #123

TechBro8615 wrote: post #84

I was fairly into the space in 2014-2016 but stopped paying attention the last few years. It seems like lots of theorized applications actually exist and have a proof-of-concept now. If I’m building a marketplace business in 2021, where I want to be “crypto-first” instead of relying on PayPal and Stripe Connect, where do I start? The marketplace sells access to resources with an off-chain ACL system. It facilitates t…

Realistically, you can't. Unless you want to be a very early adopter, no mainstream businesses are accepting payments in crypto. Techwise, Coinbase has a thing: https://commerce.coinbase.com/ But I've absolutely never seen it in the wild.

Post by X6S1x6Okd1st » Tue, May 18, 2021, 3:33 PM UTC

55555 wrote: post #165

TheCapn wrote: post #113

Earlier quoted context omitted.

Just to put an anecdote to the question, I made a withdrawal from my mining pool to my wallet 2 days ago and for an nearly instant transaction it cost me ~$2USD. Higher than I'd want in any currency, but it definitely wasn't $20USD

Strange. I made ~5 ETH transactions a few days ago (interacting with a smart contract) and paid ~$90 each. Around the same time I made a few transfers, and spent about $25 each.