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from @umanwizard: >The market could solve this problem properly if there were a global carbon tax, but unfortunately, there isn't. "Solve it"? How so? Crypto
by dumbfounder 6y ago
from @umanwizard:
>The market could solve this problem properly if there were a global carbon tax, but unfortunately, there isn't.
"Solve it"? How so? Crypto mining is largely powered by renewables (40% according to one source in Sep 2020). It is a race to find the most energy efficient way create power to make it worthwhile to mine, which has some positive effect on society by driving innovation. No idea if that is a net positive, but this is not black and white issue at all the way many here are framing it.
- acdha 6y ago> Crypto mining is largely powered by renewables (40% according to one source in Sep 2020). That’s one source and less than half does not mean “largely” in standard English usage. More importantly, almost nobody uses Bitcoin so a key question would be how that’d change if usage could be scaled up to, say, even 0.1% of daily transactions.
- UncleMeat 6y agoFor bitcoin to use an equivalent amount of carbon as visa per transaction, it'd need to be 99.9999% powered by renewables and visa would need to be 100% powered by fossil fuels.