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Cryptocurrencies’ Carbon Footprint Underestimated

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Re: Cryptocurrencies’ Carbon Footprint Underestimated

#281

Post by elvatoloco55 »

imtringued wrote: post #189
jackt89 wrote: post #18

Earlier quoted context omitted.

You will have your money's value stolen from you through inflation. You will be forced to consume. And you will be happy.

Does a rotting apple steal itself from you? Maybe you should think about eating it before it spoils? Ever thought about how human labor cannot be stored and money is basically a labor coupon via debt? Alternatively, if you truly insist on maintaining value, then you should try to buy the most durable good you can get your hands on because human labor spoils very quickly during unemployment. >You will be forced to con…

Oh so savings is dead money doing nothing? How about you make something that is worthwhile to invest in? How about we save up to produce capital goods instead of fueling consumption for no reason?

The main purpose of money is saving. That's hard to do since they steal it from you if you do that.

Keynesian economics has done so much damage to people and the world.

Re: Cryptocurrencies’ Carbon Footprint Underestimated

#282

Post by lrvick »

endisneigh wrote: post #3

There's some good data here - that being said, even if the carbon footprint were literally zero, I couldn't personally support cryptocurrency. Fundamentally it's the antithesis to democracy. Say whatever you will about all forms of government, but ultimately no matter the form, there's some level of accountability. Some governments use elections to facilitate this, others use the threat of rulers being killed. One wa…

Accountability could be even easier in cryptoassets in the form of smart contracts and public ledgers.

Imagine if the wallet addresses of every politician were public and we could all see every donation -and- large donations would be automatically rejected by a smart contract unless they are signed and identified by the keys of a public notary they have disclosed their identity to.

(There is already one public Notary in Washington that can certify identity with their registered RSA key as a form of seal)

Cryptoassets can allow us to write our financial laws into code so we don't have to rely on the honor system as much.

Re: Cryptocurrencies’ Carbon Footprint Underestimated

#283

Post by cwkoss »

imtringued wrote: post #170
Trias11 wrote: post #153

Earlier quoted context omitted.

>>> our current system isn't here by accident And dinasaurs weren't on earth by accident. They were part of evolution and then replaced with other species more appropriate for evolving earth and conditions.

Bitcoin is just the gold standard but worse. With gold you can at least dig up more of it as your economy grows. Bitcoin doesn't care about the real economy.

The idea that bitcoin should be the sole currency for a nation is silly and only promoted by shallow-thinking "to the moon" bulls.

Bitcoin (if successful) will serve as an international safe haven from reckless monetary policy. It counterbalances fiat, it doesn't replace it.

Re: Cryptocurrencies’ Carbon Footprint Underestimated

#284

Post by fleddr »

NoGravitas wrote: post #48
Freestyler_3 wrote: post #42

Earlier quoted context omitted.

All crypto bad because PW bad. And I do not see how PS is greenwashing, since it is fundamentally changing the business. This is like going from burning brown coal to solar power, and then you would say solar power is just greenwashing. I do not mind criticism, so give some.

How long has Etherium been "planning" to move to PoS? How widely used are other PoS systems? Even beyond that, a PoS system is still, like all cryptocurrencies, functionally, a pyramid scheme.

Correction, like all assets.

Real estate is a pyramid scheme. So are stocks. And even money itself. Anything of value is ultimately hoarded and concentrated in the hands of a few. It's not an issue unique to crypto.

Re: Cryptocurrencies’ Carbon Footprint Underestimated

#285

Post by NoGravitas »

MelonTree wrote: post #175
endisneigh wrote: post #3

There's some good data here - that being said, even if the carbon footprint were literally zero, I couldn't personally support cryptocurrency. Fundamentally it's the antithesis to democracy. Say whatever you will about all forms of government, but ultimately no matter the form, there's some level of accountability. Some governments use elections to facilitate this, others use the threat of rulers being killed. One wa…

100 years ago, you would've used the same argument to try ban cars. They're fundamentally antithetical to democracy, as they allow anyone to .. commit crimes and get away with it.

Banning cars 100 years ago would, in retrospect, have clearly been the correct decision.

Re: Cryptocurrencies’ Carbon Footprint Underestimated

#286

Post by elvatoloco55 »

lottin wrote: post #251
reedjosh wrote: post #176

Earlier quoted context omitted.

I disagree that the middle class is hurt the most. Whoever can leverage the most debt for assets benefits the most under an inflationary scheme. This tends to be banks and generally wealthy people. Stated inversly the poorest are hurt the most as they are least a part of this wealth generating scheme. Cash savings is largely irrelevant. Most Americans are net negative cash wise via credit cards. So stating the middle…

Basically everything you say is wrong. Inflation is typically priced in and therefore has little effect on debts.

You have no idea what you are talking about lol

There is no inflation Inflation is transitory Inflation is actually good

That was priced in? How about in other countries? Where the next day the currency devaluates 50%?

Re: Cryptocurrencies’ Carbon Footprint Underestimated

#287

Post by geysersam »

danuker wrote: post #90
pjc50 wrote: post #55

Earlier quoted context omitted.

> Make universally applied carbon taxes across all industries and let the market sort it out Globally?

I'd apply the tax globally, but make it proportional to GDP/capita. A way to enforce this is tariffs.

Problem is, some people barely afford important things, while others easily affords unimportant things. Taxing everything at the same level will either: 1. Push millions of people into extreme poverty. 2. Or, be so low impact that it is ineffective for reducing carbon emissions.

What's the solution? We should not tax all things equal.

In a perfect market, a global carbon tax would be excellent. Unfortunately we do not live in (anything resembling) a perfect market.

Re: Cryptocurrencies’ Carbon Footprint Underestimated

#288

Post by dqx »

twofornone wrote: post #247
dqx wrote: post #195

Earlier quoted context omitted.

Makes you wonder why congressman Mo Brooks (R-Alabama) wore body armor to the riot, huh? Maybe to protect against the stun guns, pepper spray, baseball bats and pipe bombs? 14 suspects in the attack are facing federal charges related to bringing dangerous weapons inside the Capitol, 2 are facing firearms-related charges. Why didn't you tell DC's US Attorney’s Office that they were actually unarmed?!

>14 suspects in the attack are facing federal charges related to bringing dangerous weapons inside the Capito There hasn't been a single conviction related to insurrection or anything more sinister than rioting or trespassing to date. Don't get your hopes up. Further, note the misleading language used in reporting, "armed", "dangerous weapons", but not guns (save the two facing ambiguous "firearms related charges") w…

Thanks for providing evidence of a capitol rioter carrying a firearm. No True Scotsman I guess.

Most of the rioters were armed. There are a couple videos of the riot if you don't believe me. You're moving the goals posts so that beating a cop with a flagpole until he's dead, throwing fire extinguishers, swinging axes, or planting pipe bombs counts as being "unarmed". Christopher Alberts was caught inside with a loaded handgun.

"DC is no guns," wrote an Oath Keepers member on Facebook, "so mace and gas masks, some batons." They had to remind them to only bring certain weapons to their peaceful protest.

Officer Mike Fanone claims Trump supporters reached for his weapon shouting "kill him with his own gun." He must be exaggerating!

> There hasn't been a single conviction related to insurrection or anything more sinister than rioting or trespassing to date.

Oh wow, you really didn't know. Jon Schaffer plead guilty to entering a restricted building with a dangerous weapon. Why didn't you remind him he was unarmed before he plead guilty?!

> given the lack of firearms and damage

Damage estimates range from $1.5 to $30 million. Do you read the news?

Re: Cryptocurrencies’ Carbon Footprint Underestimated

#289

Post by chowells »

mavhc wrote: post #179
tornato7 wrote: post #65

Earlier quoted context omitted.

Ethereum has been planning to move to PoS since the beginning. PoS is already working and devs are making incredible progress toward The Merge. PoS chains such as Solana and more efficient L2s are already starting to see wide adoption.

How does Proof of Stake not cause the rich to grow richer?

The exact same way proof of purchase of massive bespoke mining rigs doesn't cause the rich to grow richer.

The people making significant money from mining cryptocurrencies are the ones with multiple warehouse-scale operations filled with custom hardware. These people aren't getting rich, they were already rich. Moving to PoS just removes some middlemen, not changes the fundamental economics.

Re: Cryptocurrencies’ Carbon Footprint Underestimated

#290

Post by elvatoloco55 »

imtringued wrote: post #198
philwelch wrote: post #162

Earlier quoted context omitted.

> These are appointed by the President and confirmed by the Senate, both of which are elected by people democratically. Do you know a single person who, in their entire lives, has ever voted for either their President or their Senator primarily on the basis of Federal Reserve Board appointments? Most voters don't even know the constitutional duties of the President. Presidential candidates are (mostly) front men for…

Why would you care? All the Fed is doing is kill inflation as much as it can. The only thing that they should stop doing is QE because it literally does nothing. It's as if we swapped names. My comments wouldn't change.

Yeah expanding the money supply by 50% causes no inflation.

Just like in every country where the printing press has been abused. Literally 0 precedent right?

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