Ethereum will use around 99.95% less energy post merge

Post by csomar » Tue, May 18, 2021, 5:18 PM UTC

selfhoster11 wrote: post #201

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…

So burning electricity on running a cryptocurrency is not right, but burning electricity on running servers for Facebook or user tracking is all right? If that's the case, who's the arbiter of what's "too much" power for a use case? If that's not the case, how do you propose to enforce that all use cases use less electricity, and how do you punish those who use too much?

Post by Graffur » Tue, May 18, 2021, 5:19 PM UTC

helmholtz wrote: post #313

selfhoster11 wrote: post #201

Earlier quoted context omitted.

So burning electricity on running a cryptocurrency is not right, but burning electricity on running servers for Facebook or user tracking is all right? If that's the case, who's the arbiter of what's "too much" power for a use case? If that's not the case, how do you propose to enforce that all use cases use less electricity, and how do you punish those who use too much?

Why do HN comment threads always end up as Pedantry Pageants where all ye who dare comment must address all the fucking edge cases or be called out by the immediate first child comment about failing to do so. It's SO trite, predictable, wearisome and boring . It always follows the same pattern too. "Where do you draw the line?" "Who decides what's the truth?" Always the same fucking slippery slope fallacy. Every fuck…

Post by aloer » Tue, May 18, 2021, 5:20 PM UTC

fredfoobar wrote: post #479

luka-birsa wrote: post #433

Fully support this, as PoW protocols - from an efficient market perspective - consume as much as they are currently worth to mine, which would mean that if we believe that the value of BTC will go up (in line with past increases, for orders of magnitude) then also the consumption of power will go up just as much. When BTC hits 250K per coin next year, expect 5x as much energy consumption to what it does use today. At…

Consider not rabbitholing into a narrative and understanding reality: https://bitcoinmagazine.com/business/bitcoin-uses-less-than-...

Post by chrisan » Tue, May 18, 2021, 5:20 PM UTC

selfhoster11 wrote: post #201

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…

So burning electricity on running a cryptocurrency is not right, but burning electricity on running servers for Facebook or user tracking is all right? If that's the case, who's the arbiter of what's "too much" power for a use case? If that's not the case, how do you propose to enforce that all use cases use less electricity, and how do you punish those who use too much?

Post by rawtxapp » Tue, May 18, 2021, 5:21 PM UTC

turbinerneiter wrote: post #127

I hope I'm not being lazy, but does POS not just mean the more you have, the more you get? Wouldn't it converge to 1 wallet controlling everything? Or to rephrase the question: where can I find the "POS for dummies" page?