521–530 of 1001 posts
What was the "toxic environmental narrative"?
I appreciate it wasting less precious energy. But this change also means that "Decentralisation" and "Power to the people" are fading away right? The wealthy actors are the ones dictating the transaction now and they also on top get paid for being rich. This does not sound like a "better financial system" for me. Also, don't forget the DAO Fork[0] where with the "ungovernable Blockhain" it was decided a transaction w…
I wonder what the ETH miners are doing now. Did they switch to other coins? I doubt that they actually switch off their stuff. That makes no sense economically.
The people with actual mining rigs with multiple GPU's will either sell their stuff or start renting them for services like vast.ai. I assume most will end up selling because of the cost of getting a server-grade Motherboard/CPU + lots of RAM isn't exactly cheap and the effort required to set everything up is much higher.
Earlier quoted context omitted.
Not using up a goat load of electricity is like 99% of why this change is great. Let people speculate on their funny money without harming everyone. A lateral move on the other details is rather unsurprising.
Using electricity isn't the problem. Anyone could use vast amounts of electricity as long as they are willing to pay the price for it. The problem is carbon emissions. The switch to PoS is a non-issue from my perspective: a centralized system changed from using method A to method B, I don't understand why I should care. Bitcoin mining is increasingly being used to prevent methane emissions in stranded gas reserves. H…
This statement caused me to do some light research. I discovered that methane is 25 times as potent as carbon dioxide at trapping heat in the atmosphere.
Quote from the article: > “I feel very proud, you know, that I'll be able to look back and say I've had a role to play in removing a megaton of carbon from the atmosphere every week." -- Edgington There's a very important difference in not emitting carbon into the atmosphere and actively removing carbon from the atmosphere. Both are critically necessary and complementary, but I don't see how Edgington thinks that swi…
"We are ruining the environment more slowly." er, I mean... "We are saving the environment!"
"The wall is very close"
"We're going too fast, shouldn't we brake?"
"Oh at least, we're not accelerating, look, constant speed, everything is fine!"
Earlier quoted context omitted.
Why bother paying more for a slow database if you’re not going to rely on the one feature which can’t be done faster, cheaper, and more reliably than the current financial system?
It’s pretty clear to anyone under 40 working in finance that there’s room for improvement.
The merge is freaking incredible. Switching the engine of a $60 billion financial network in-flight. Permanent power savings the scale of a country. An incredible coordination between a huge number of diverse parties all over the world. Everything open source. And all we get is a rehash of tired old arguments against cryptocurrencies.
This was originally a forum for hackers, makers and entrepreneurs. It does not seem like that anymore.
It looks like the new Blockchain is quite centralized. 45% of blocks are mined by just two addresses: https://twitter.com/santimentfeed/status/1570339602346684416...
Those could be exchanges ? Which would mean they represent very large numbers of users. Seems the most likely explanation. The idea that this isn’t true in BTC or PoW seems like a wild fiction to me.
Perhaps, it's my ignorance about this technology that makes me question and prevent me from adopting this technology.
Does this mean GPU prices will go down? At least according to this article the validator nodes can be run on a Raspberry Pi [1] [1] https://ethereum.org/en/energy-consumption/
Quote from the article: > “I feel very proud, you know, that I'll be able to look back and say I've had a role to play in removing a megaton of carbon from the atmosphere every week." -- Edgington There's a very important difference in not emitting carbon into the atmosphere and actively removing carbon from the atmosphere. Both are critically necessary and complementary, but I don't see how Edgington thinks that swi…
He's not saying it is "carbon-negative" --- he's saying it is more efficient and avoids a megaton of carbon that would otherwise have been released.
I appreciate it wasting less precious energy. But this change also means that "Decentralisation" and "Power to the people" are fading away right? The wealthy actors are the ones dictating the transaction now and they also on top get paid for being rich. This does not sound like a "better financial system" for me. Also, don't forget the DAO Fork[0] where with the "ungovernable Blockhain" it was decided a transaction w…
But this change also means that "Decentralisation" and "Power to the people" are fading away right? Don't look now but "decentralization" and "power to the people" are already gone in the crypto market. Blockchain is a novel accounting system. But has any organization * ever * derived any real power from an accounting system? Are Google and Apple and Amazon market leaders because of a novel accounting system? I don't…
You have Coinbase, Kucoin, Gateio, Crypto.com, Kraken, Bitfinex, Uniswap, Sushiswap, Pancakeswap, ...
Competition is also a form of decentralization.