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So don't use it duh
It’s an externalities problem. I can not use it, but I can’t opt out of the climate impact. (Save the “it’s not really that bad” arguments, I’ve heard all the industry’s gaslighting, but their claims don’t match reality)
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That’s not exactly how it works.
Regardless of law, intent, etc, this is how it functionally ends up happening, a nonzero amount of the time.
I hope the rest of world follows. There is nothing more volatile than a decentralised crypto currency. The amount of people making a profit from it is less than 5% and energy consumption is beyond acceptable. Crypto as a tech to serve something different is totally fine of course.
Crypto's, especially Bitcoin, are too enshrined in the financial world to be banned in the West.
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Only PoW cryptos need extensive electricity and hardware. Its completely absurd to ban crypto. Thats like if you would ban all motorized vehicles to get rid of coal blasting diesel trucks without catalytic converter. Needless to say that its also technically impossible to ban crypto. Its like banning torrents or even harder and we all know torrent was attacked heavily in the past but it did not go away.
If its banned then not only can government shutdown large mining operations but government resources can be spent on 51% attacks to discredit them.
I hope the rest of world follows. There is nothing more volatile than a decentralised crypto currency. The amount of people making a profit from it is less than 5% and energy consumption is beyond acceptable. Crypto as a tech to serve something different is totally fine of course.
So don't use it duh
/s
I hope the rest of world follows. There is nothing more volatile than a decentralised crypto currency. The amount of people making a profit from it is less than 5% and energy consumption is beyond acceptable. Crypto as a tech to serve something different is totally fine of course.
There is plenty of profit being made from selling hardware and software services in the space. Also, are you suggesting banning all assets whose volatility crosses a certain threshold? As for energy consumption, does this also apply to Proof of Stake networks?
I hope the rest of world follows. There is nothing more volatile than a decentralised crypto currency. The amount of people making a profit from it is less than 5% and energy consumption is beyond acceptable. Crypto as a tech to serve something different is totally fine of course.
I hope the rest of world follows. There is nothing more volatile than a decentralised crypto currency. The amount of people making a profit from it is less than 5% and energy consumption is beyond acceptable. Crypto as a tech to serve something different is totally fine of course.
Only PoW cryptos need extensive electricity and hardware. Dont make crypto just bitcoins. If you really want to help make a dent in the energy consumption then people need to move away from PoW coins not from crypto in general.
How exactly do you think you could dethrone Bitcoin, overcoming its gigantic first-mover advantage?
I believe BTC could only come down with the rest of that "economy".