21–30 of 46 posts
Earlier quoted context omitted.
When you encounter your typical Bitcoiner, they'll do logical gymnastics and typically go the playbook, which is to deflect and talk about how much energy banks or treasuries use. However, the true answer is always greed.
That's what a typical anti-Bitcoiner would say.
Earlier quoted context omitted.
When you encounter your typical Bitcoiner, they'll do logical gymnastics and typically go the playbook, which is to deflect and talk about how much energy banks or treasuries use. However, the true answer is always greed.
Who gives a shit about energy usage if it is used for a cause that could potentially help humanity overcome adversity? Granted, energy usage is important but it is a question about trade-offs. If bitcoin helped solve cancer or some genetic diseases, I doubt anyone would say: "yea but it uses too much electricity!". The world is based on trade-offs, so why not have that electricity that the bitcoin network generate be…
and nothing of value was lost..
and nothing of value was lost..
I can't wait for the Tulip... err Blockchain hype to die down. Using the energy of a mid size european country for what is now essentially a pyramid scheme is just shitty. (And I make that statement after having made a few thousand bucks by mining BTC at 5$ per coin.)
Hey if anyone wants to use their computer spare cycles on something a little more worthwhile ( as far as humanity is concerned ) try: https://foldingathome.org/
This is something that has boggled my mind since 2010 when I first looked at crypto. Why the hell would anyone waste CPU cycles computing some arbitrary hash value that is then ejected as "waste" rather than having the computational workload itself run scientifically important problem and the result of that computation is rewarded with a token? why the hell is everyone using all of this computational power for... not…
> So why the hell are we not putting those to good use?
Some would argue that securing transactions that transfer value without trust is a good use
Hey if anyone wants to use their computer spare cycles on something a little more worthwhile ( as far as humanity is concerned ) try: https://foldingathome.org/
This is something that has boggled my mind since 2010 when I first looked at crypto. Why the hell would anyone waste CPU cycles computing some arbitrary hash value that is then ejected as "waste" rather than having the computational workload itself run scientifically important problem and the result of that computation is rewarded with a token? why the hell is everyone using all of this computational power for... not…
This is not possible for actual problems you'd want solved (i.e. "useful work") because you can't know beforehand how long it will take to find a solution.
Earlier quoted context omitted.
That's what a typical anti-Bitcoiner would say.
Except I'm not an anti-Bitcoiner. I was mining in 2011, and I'm very active in online communities (obviously under a different persona). I just am a very extreme pragmatist.
Who is not a pragmatist? Who could possibly insist on the impractical? This is ideological par excellence and the rejection of the impractical becomes, in a sense, ideology in itself. This ideology necessarily starts to reject criticism as "dogmatic" and this insistence and opposition to opposition becomes in itself a dogmatic principle.
Earlier quoted context omitted.
Who gives a shit about energy usage if it is used for a cause that could potentially help humanity overcome adversity? Granted, energy usage is important but it is a question about trade-offs. If bitcoin helped solve cancer or some genetic diseases, I doubt anyone would say: "yea but it uses too much electricity!". The world is based on trade-offs, so why not have that electricity that the bitcoin network generate be…
It's just unbelievably, mind-bogglingly inefficient, and no credible plans have been put forward to change that. Scaling up the current power consumption and waste generation to Visa-levels of transaction, a Bitcoin powered economy would consume 38X the entire worlds' generation capacity of electricity and yield 132 million metric tons of e-waste per year. All to replace what Visa does today. Just Visa. Not MC, Amex,…
Earlier quoted context omitted.
That's what a typical anti-Bitcoiner would say.
Except I'm not an anti-Bitcoiner. I was mining in 2011, and I'm very active in online communities (obviously under a different persona). I just am a very extreme pragmatist.