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> despite my general misgivings about the huge energy cost of crypto. Are you really concerned about people utilizing electricity, or are you actually concerne
by px43 6y ago
> despite my general misgivings about the huge energy cost of crypto.
Are you really concerned about people utilizing electricity, or are you actually concerned about carbon footprint? If the carbon thing, look where crypto-mining happens. It's almost exclusively with overflow power from areas that get their energy from hydro, wind, geothermal etc, so the additional carbon produced by mining is negligible.
Second, Ethereum, on which all serious NFT activity is based, is midway through a transition from PoW to PoS (proof-of-work to proof-of-stake) where people demonstrate their commitment to validating transactions by locking up their funds rather than burning electricity. There are over 3 million ETH locked, which is over 6 billion dollars at the moment, and growing, all to validate transactions on this new PoS network.
https://www.duneanalytics.com/hagaetc/eth2-0-deposits https://www.duneanalytics.com/hagaetc/eth2-0-deposits
- egypturnash 6y agoMore the carbon footprint, yeah. But also general concerns about how much the crypto industry is about "converting energy into value and an asston of waste heat".