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> We should stop using the word "waste" to describe the energy consumption of the Bitcoin miners. All you bitcoin shysters can keep telling yourself that to sl
by spookthesunset 8y ago
> We should stop using the word "waste" to describe the energy consumption of the Bitcoin miners.
All you bitcoin shysters can keep telling yourself that to sleep at night, but you are lying to yourself and you know it.
Bitcoin consumes massive amounts of energy for a pathetically small amount of transactions per second. ON a per transaction basis, Bitcoin uses several orders of magnitude more energy than anything used by modern day financial systems.
Like, embarrassingly, shamefully large amounts of electricity. Y'all should bow your heads in shame for the harm you are doing to the world.
> The service it provides is to guarantee the integrity of the blockchain without the requirement of a central authority.
The blockchain, whose only use case is to enable rampant speculation and amazingly large quantities of fraud.
The whole "space" needs to go away.
- aje403 8y agoBbbut... the blockchain?
- arebop 8y agoYour biggest mistake is comparing energy use. You need to compare the total overhead of bitcoin to the total overhead of the competitive financial system. The second mistake is comparing a per-transaction basis; this is of interest when we are comparing suitability for particular applications, but if you want to talk more generally about whether bitcoin is efficient for payments you need to look at things on a value basis (use usd, eur, cny, or gold ounces).
- hobs 8y agoWhy? Why does a new system need to be just as bad as the old one?
- thaumasiotes 8y agoIt doesn't. But if the new system is better than the old one, why would comparing it to the old one imply that anyone using the new one should be ashamed of doing so?
- TeMPOraL 8y agoIt wouldn't. But it turns out that the new system is significantly worse than the old one, for little to no practical benefit. That's why people are comparing and complaining.