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Who cares? Bitcoins power use is hardly linked to it's transaction rate.
by ryanlol 9y ago
Who cares? Bitcoins power use is hardly linked to it's transaction rate.
- annabellish 9y agoIndeed, transaction rate at bitcoin's highest points has been very low. Power usage is strongly correlated to price, while price isn't correlated to... anything.
- tim333 9y agoPrice is correlated to power usage. There's an odd sort of feedback loop where a rising bitcoin price causes more mining which raises the price of bitcoin and so on exponentially. You may ask why not just walk away and let bitcoin return to zero but there are a large number of people in the mining industry and similar with incentives to promote and prop it up.
- s73v3r_ 9y agoI would imagine people who like to breathe clean air and drink clean water would care.
- ryanlol 9y agoOnly the people who pay little attention and wildly overestimate bitcoins impact on these things. Besides, the "Who cares?" was mostly aimed at the irrelevant comparisons made by gascan.
- deadmetheny 9y agoBitcoin mining is proportional to how many there are, it will suck up more power with more miners performing difficult hash operations by design. Bitcoin is a fucking blight on the planet.
- tim333 9y agoThe guy who probably designed it writes "its prolific resource consumption and poor computational scalability is buying something even more valuable: social scalability." Not quite sure about that one myself. You can motivate a lot of people to do something social pretty well with fiat currency.