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I dont think we have any real evidence that cryptocurrencies are predominantly using polluting methods of power generation. The entire argument falls over if it
by celticninja 8y ago
I dont think we have any real evidence that cryptocurrencies are predominantly using polluting methods of power generation. The entire argument falls over if it is all renewable energy.
- Scarblac 8y agoThen it's still using up renewable energy that could have been used on something else. Electricity is mostly fungible.
- keymone 8y agoEnergy is a product on the market. Whoever wants to pay for it is free to do it, what’s your problem? Besides you seem to be missing one important fact about energy - it is very expensive to store much of it, which is why many bitcoin farms use up available excessive energy because that way it makes them more profitable and the grid more stable.
- Nursie 8y ago> Energy is a product on the market. Whoever wants to pay for it is free to do it, what’s your problem? Carbon output, on a global scale, which is already hard enough to keep under control. We don't need yet another massive source of energy use, particularly one that gives us virtually nothing in return.
- saint_fiasco 8y agoHow is electricity fungible? Conductors waste power proportional to the distance. Bitcoin, like aluminum before it, can be used to "export" electricity from places where it's cheap and hopefully renewable, like a hydro power plant.
- mightybyte 8y agoThis is decidedly not true. Electricity transmission has substantial losses over long distances. Check out this article for more information about how the crypto mining industry uses electricity. https://hackernoon.com/the-reports-of-bitcoin-environmental-damage-are-garbage-5a93d32c2d7 https://hackernoon.com/the-reports-of-bitcoin-environmental-...
- rplnt 8y agoNo it doesn't fall over as long we are still making "dirty" energy, which we absolutely do.