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To be honest, this is my reason for not jumping mindlessly on the cryptocurrency bandwagon: it's wasting so much resources and power, especially when you take a
by pmlnr 9y ago
To be honest, this is my reason for not jumping mindlessly on the cryptocurrency bandwagon: it's wasting so much resources and power, especially when you take a look at videos of mining farms.
- wwwv 9y agoI'm not really in this world, but you'd save more power by recycling aluminium cans (%5+ of US power consumption) than by killing off cryptocurrency mining.
- pmlnr 9y agoPersonally I bring everything I can to recycling points, sometimes even if it's not my own garbage. But I'm aware people don't care. On the other side the crypto mining is not only the power consumption: it's all the hardware and it's production as well. The ASIC antminers can't be used for anything else, hard to recycle as well and they constantly need to get bigger and faster. For Ethereum, people are buying shitloads of high end GPUs. I also don't like the idea of storing insane amount of data, hoping to find correlations to make more money, but this is also nothing I can do anything about.
- wscott 9y agoYou understand that this article is about a cryptocurrency that uses a service (long term file storage and access) and the proof of work function instead of pointless computation.
- pmlnr 9y agoYes, I do, and this sounds like a good idea - emphasis on the sounds, because it's not new, see primecoin.
- pavlov 9y agoThe whole thing reminds me of one Arthur C. Clarke short story, probably from the 1950s, where a group of Tibetan monks has purchased a computer to generate "all the one billion possible names of God". Before the computer, the monks had been doing the work by hand for centuries. An American computer engineer is sent to install the machine. He chuckles at the monks' superstition: they claim that generating the billion gibberish strings is a task from God and the fundamental purpose of the universe.
- woofyman 9y agoThen the Universe is destroyed when the billionth name is generated.
- Johnny555 9y agohttps://en.wikipedia.org/wiki/The_Nine_Billion_Names_of_God https://en.wikipedia.org/wiki/The_Nine_Billion_Names_of_God
- heavenlyblue 9y agoThey made a mistake by not increasing the search space (or difficulty in Bitcoin terms) in order to make that computer faith-compatible.
- deleted 9y ago[deleted]
- detaro 9y agoFilecoin at least isn't based in competition who can do "useless" computation the fastest, but computation only happens to verify data is actually being stored by those claiming they do so.
- igorgue 9y agoAww you're such a good person caring about not wasting the resources of the world :)