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System engineer here: An Issue I have with the whole economic system is that external cost to the environment is not priced correctly. I think that crypto curr
by acd 6y ago
System engineer here: An Issue I have with the whole economic system is that external cost to the environment is not priced correctly.
I think that crypto currencies is a good thing but must move from proof of work so something which consumes less energy,
I think the fix is that you price negative carbon in the atmosphere, carbon capacity and you pay for all carbon you emit.
https://en.wikipedia.org/wiki/Pigovian_tax https://en.wikipedia.org/wiki/Pigovian_tax
Its currently quite insane that cryptocurrency is using energy on the equivalent of the country Argentina and that as a gamer cannot get hold of a Geforce 30x0 series graphics card to use for playing games.
source: https://www.bbc.com/news/technology-56012952 https://www.bbc.com/news/technology-56012952
I think the current capitalistic economic system is modeled on infinite environmental resources / capacity and exponential debt growth which is simply not true. That system held up in the early 1800/1900s but the flaws I think are emerging in the 2000s. Ie you do not pay for external cost of polluting, but you as an individual or company may benefit short term but the rest others pay an external cost long term which is not priced.
- Bluestein 6y ago> think that crypto currencies is a good thing but must move from proof of work [to] something which consumes less energy, My thoughts exactly.- (Less energy, and is better overall / more advanced / capable ...)
- engineer_22 6y agoAre you familiar with Charles A.S. Hall? and Biophysical Economics...