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Bitcoin is hugely problematic from an energy consumption point of view. Do we actually need it? Is there any mainstream use of it outside of speculation and g
by AndrewSChapman 6y ago
Bitcoin is hugely problematic from an energy consumption point of view. Do we actually need it? Is there any mainstream use of it outside of speculation and gambling? Largely it seems to be a tool to make money, exploited by the rich and powerful with machine learning and automatic trades.
If we really need a way to transact without using banks, there's alternatives that have massively lower energy footprints such as Nano. Do we need Bitcoin? Should there be regulations around digital currencies and energy usage given the state of play with global warming?
- katbyte 6y agoBuying drugs. Figured that was what most Bitcoin transactions were for
- CyberDildonics 6y agoNo one is using bitcoin for transactions since the average transaction fee is $28.
- katbyte 6y agoare you sure? the first link when i googled this: https://www.researchgate.net/publication/333388187_Sex_Drugs_and_Bitcoin_How_Much_Illegal_Activity_Is_Financed_through_Cryptocurrencies#:~:text=We%20estimate%20that%20around%20%2476,European%20markets%20for%20illegal%20drugs https://www.researchgate.net/publication/333388187_Sex_Drugs.... "We estimate that around $76 billion of illegal activity per year involve bitcoin (46% of bitcoin transactions), which is close to the scale of the U.S. and European markets for illegal drugs"
- CyberDildonics 6y agoWhat you linked is dated June 2017
- gge 6y agoWhy are you shilling Nano? No one uses it, and no one will ever use it.
- AndrewSChapman 6y agoI'm not shilling Nano. I don't use it. It just happens to be the one cryptocurrency I know that has energy efficiency on its side. Why are you so sensitive to me mentioning it?
- gge 6y ago> Why are you so sensitive to me mentioning it? Cause its a shitcoin and I'd prefer people don't lose their money