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It's hard to see it as anything but that because cryptocurrency people don't collectively realize the gravity of the PR disaster they have on their hands. Cent

It's hard to see it as anything but that because cryptocurrency people don't collectively realize the gravity of the PR disaster they have on their hands. Central banks are looking for reasons to shut down the whole cryptocurrency space and in an ignorant public's eye, bitcoin's absurd energy waste is a perfect reason to do just that. Where is the coinmarketcap-like tool that indexes cryptocurrency projects' energy (in)efficiencies and e-waste footprints? Where is the tool that's easy to use and shows how efficient cryptocurrency projects are in real time? Without that, the whole space is in serious jeopardy, including those few projects that actually have the potential to benefit people and the planet.

nietzsch3 6y ago
Bitcoin uses 7% of the energy the global banking system uses and its energy use doesn't scale with adoption
- K0nserv 6y ago
  Does that follow? Surely as Bitcoin becomes more and more valuable there's more and more incentive to mine and the more entranched it becomes more important to defend against 51% attacks become. It seems to me that what has happened historically i.e. ever more people starting to mine will continue as long as Bitcoin remains valuable.
  - nietzsch3 6y ago
    Yeah and I simply don't see 51% attacks working or going on for long periods of time due to adoption and game theory. Nation states simply can't afford gain 51% because it would mean they're already losing legitimacy of their currency IMO.
solosoyokaze 6y ago
Bitcoin is probably the most important social/technological innovation since the internet (which uses how much energy?). Most people realize that moving humanity forward requires energy. There's loud neo-luddite contingent that missed the boat on crypto (it's actually not too late), but I wouldn't take angry anti-crypto HN comments as public sentiment. The public is in desperate need of a finance system not tied to the existing oppressive establishment.
- hahahahe 6y ago
  That’s such a laughable thing to say. Edit: You just compared crypto to the invention of the internet. If that’s not a laughable hyperbole I don’t know what is. Thanks for the flag.
- SantalBlush 6y ago
  This is such a vague explanation of bitcoin's usefulness that I'm even more glad to use US dollars after reading it. "Most important social/technological innovation since the internet." "Moving humanity forward." "Not tied to the existing oppressive establishment." These are not real, concrete reasons for anyone to switch to bitcoin. These are statements I would expect to hear from someone who is trying to recruit me into a pyramid scheme.
  - throwaway829 6y ago
    People who save in FedBucks are no closer to owning a home in California. If you’re saving in FedBucks you’re treading water as the printer goes burrrr. Mostly likely you know saving in FedBucks is a fool’s errand and convert your money to Wall Street assets. Crypto is an alternative store of purchasing power that’s not currently run by New York bankers.

nietzsch3 6y ago

Bitcoin uses 7% of the energy the global banking system uses and its energy use doesn't scale with adoption

K0nserv 6y ago
Does that follow? Surely as Bitcoin becomes more and more valuable there's more and more incentive to mine and the more entranched it becomes more important to defend against 51% attacks become. It seems to me that what has happened historically i.e. ever more people starting to mine will continue as long as Bitcoin remains valuable.
- nietzsch3 6y ago
  Yeah and I simply don't see 51% attacks working or going on for long periods of time due to adoption and game theory. Nation states simply can't afford gain 51% because it would mean they're already losing legitimacy of their currency IMO.

solosoyokaze 6y ago

Bitcoin is probably the most important social/technological innovation since the internet (which uses how much energy?). Most people realize that moving humanity forward requires energy. There's loud neo-luddite contingent that missed the boat on crypto (it's actually not too late), but I wouldn't take angry anti-crypto HN comments as public sentiment. The public is in desperate need of a finance system not tied to the existing oppressive establishment.

hahahahe 6y ago
That’s such a laughable thing to say. Edit: You just compared crypto to the invention of the internet. If that’s not a laughable hyperbole I don’t know what is. Thanks for the flag.
SantalBlush 6y ago
This is such a vague explanation of bitcoin's usefulness that I'm even more glad to use US dollars after reading it. "Most important social/technological innovation since the internet." "Moving humanity forward." "Not tied to the existing oppressive establishment." These are not real, concrete reasons for anyone to switch to bitcoin. These are statements I would expect to hear from someone who is trying to recruit me into a pyramid scheme.
- throwaway829 6y ago
  People who save in FedBucks are no closer to owning a home in California. If you’re saving in FedBucks you’re treading water as the printer goes burrrr. Mostly likely you know saving in FedBucks is a fool’s errand and convert your money to Wall Street assets. Crypto is an alternative store of purchasing power that’s not currently run by New York bankers.