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Many bitcoin proponents believe that bitcoin can fully replace the current financial system so whenever the energy consumption problem comes up you should expec
by ufo 9y ago
Many bitcoin proponents believe that bitcoin can fully replace the current financial system so whenever the energy consumption problem comes up you should expect to hear someone talking about how much banks spend on air conditioning every year.
- SAI_Peregrinus 9y agoOf course banks wouldn't go away with Bitcoin. There are still physical branches despite the ubiquity of online banking and credit/debit cards. People like having humans to interact with. And Bitcoin is trying to add in the Lightning network, which requires large trusted entities where people can store their coins for off-chain transactions, IE banks.
- mstodd 9y agoYes, tech never 100% goes away, you can still find brick and mortar movie rental stores.
- QAPereo 9y agoI doubt that they still believe that, as much as they are highly incentivized to claim that. Bitcoin is a disasterous enterprise as it continues to scale poorly. But hey, some people get rich (for a while) and others get to have a waking ideological wet dream, so who cares if it’s a tragic exercise in “printing” entropy and calling it value. Whataboutism isn’t going to change that. Besides, hasn’t the world suffered enough for the sake of grasping ideologues? Does everything need to be seen through these same bland lenses? This is a truly maddening and mad use of a currently limited resource with globally damaging externalities, and it produces nothing except waste heat. If the average Joe really understood this, and just how modest the real potential of blockchain tech probably is, there would be lynchings.