231–240 of 1001 posts
It worked. And it reduces the world's energy bill by 0.5%: https://twitter.com/JonathanBeuys/status/1570305323629527046 I feel a great disturbance in the force. As if a million miners cried out all at once and then were suddenly silenced.
It’s so wasteful to be using electricity when we could all be playing chess or Yazee instead.
This was always going to happen. Eth was never going to realistically compete with Bitcoin for energy. Now Bitcoin is the only PoW network remaining, as it should be.
Looking forward to seeing Bitcoin play a pivotal role in renewable energy infrastructure build-out and capturing flared and vented methane to be one of the biggest carbon-negative industries on the planet.
It arrived right when we needed it to tackle carbon emissions.
It worked. And it reduces the world's energy bill by 0.5%: https://twitter.com/JonathanBeuys/status/1570305323629527046 I feel a great disturbance in the force. As if a million miners cried out all at once and then were suddenly silenced.
Now all we need to do is shutdown the gaming industry. It’s so wasteful to be using electricity when we could all be playing chess or Yazee instead.
This doesn't really change anything, I still cannot find any legitimate use cases for blockchain, Proof of Stake or not. I would happy to be proven wrong, but this is extremely rare as I can't find any legitimate actual useful use case since Bitcoin and Ethereum's existence.
> I still cannot find any legitimate use cases for blockchain Blockchains solve the double-spend problem. Allows for scarcity in the digital realm. Ethereum is a platform for decentralized finance, anyone can borderlessly lend and borrow in seconds. Endless possibilities.
You can only do _secured_ lending and borrowing, and only where the security is, itself, a highly liquid digital token.
Person A lending USDC to person B, taking ETH for security, isn't doing much for the world at large except allowing B to defer his capital gains tax.
Unsecured lending, backed only by the faith or expectations we have around future cash flows, is how the world creates opportunity for true investment and growth... and impossible in a trustless and anonymous system like crypto.
Hardly limitless possibilities
> The Merge is one of the largest technological events in the industry to date. I feel kinda ashamed. I work in the IT industry and I claim to have knowledge about ("good") software engineering practices, distributed systems, compilers, algorithms, etc. Nevertheless, I didn't understand a word of what the article is saying. Could you recommend serious references (preferably books and not random blogs) I could read to…
Nothing is going on. You are on the right track. There's an incredible amount of word salad piled on the fact that people are playing a negative sum game when getting involved with any cryptocurrency that has transaction fees.
I think this is great news because it reduces wasted energy. The sooner cryptocurrency stops boiling the ocean, the sooner the rest of us can ignore it. I have no problem with weird nerds having their own hobbies (I have a model train set!) as long as they are not actively hurting anyone. Now do the same for bitcoin.
So, boiling the ocean is not done by this anyway, my point.
Great, now all that energy can be "wasted" rendering pixels with GPUs instead. This was always going to happen. Eth was never going to realistically compete with Bitcoin for energy. Now Bitcoin is the only PoW network remaining, as it should be. Looking forward to seeing Bitcoin play a pivotal role in renewable energy infrastructure build-out and capturing flared and vented methane to be one of the biggest carbon-neg…
Just like it was supposed to.
Earlier quoted context omitted.
A recent study by an American governmental organisation (I don't remember which) recently showed that Bitcoin can be used to reduce methane emissions. This in turn would make Bitcoin mining and Proof-of-work net carbon negative (significantly so if my memory of the graph accompanying the news isn't letting me down). edit: also, this is a new frontier that combines the best of both worlds for energy suppliers, bitcoin…
Let's be clear: Bitcoin is NOT reducing methane emissions or carbon emissions. Crypto mining cannot reduce anything. This is just a straw man. The study you reference discussed burning waste methane to turn into electricity, rather than gas flaring. That electricity could be used for anything. Water desalination, stored for grid balancing, powering agricultural needs or offsetting the electrical needs of the gas faci…
No it precisely could not, because there's no transport infrastructure, storage or grid balancer there.
That's why they were flaring in the first place.
> The Merge is one of the largest technological events in the industry to date. I feel kinda ashamed. I work in the IT industry and I claim to have knowledge about ("good") software engineering practices, distributed systems, compilers, algorithms, etc. Nevertheless, I didn't understand a word of what the article is saying. Could you recommend serious references (preferably books and not random blogs) I could read to…
Read 'Mastering Ethereum' https://www.amazon.com/Mastering-Ethereum-Building-Smart-Con... The short of it is: - The block chain is a distributed ledger database, where all peers hold a full copy to avoid manipulation (faking an entry is only possible by controlling >50% of machines in this peer-to-peer network). - Spending money is implemented by adding a transactional record to the blockchain ledger at the end sayin…
For those interested in understanding the tech rather than the typical bashing things as beneath them, I wrote up a detailed technical explainer of how Ethereum PoS works: https://0xfoobar.substack.com/p/ethereum-proof-of-stake