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Bitcoin alone currently pollutes about the same as half the global airline industry. If cryptos really are the future, I weep for the planet.
by codebolt 6y ago
Bitcoin alone currently pollutes about the same as half the global airline industry. If cryptos really are the future, I weep for the planet.
- thebean11 6y agoLuckily mining with renewables is much less difficult technically than flying with renewables.
- Supermancho 6y agoHow is that lucky?
- thebean11 6y agoLucky for Bitcoin, there's a clear path to reducing environmental impact.
- lostlogin 6y agoOr we could use that power for something a little more practical which we can’t do without.
- emteycz 6y agoWhat we? These are individuals, each with their own goals. Give them some other business opportunity and I'm sure they'll jump on it - it just needs to be as good as Bitcoin.
- smabie 6y agoMy (and others) livelihood depends on the existence of crypto currency. Seems pretty practical to me.
- thebean11 6y agoAre you advocating for some sort of central authority who regulates what individuals use power for?
- zepto 6y agoWe already have that for large classes of equipment.
- thebean11 6y agoAnd you want to extend that to any device that plugs into an outlet? Just trying to get your position straight here.
- zepto 6y agoIt already does, if a particular regulated activity involves plugging devices into outlets. > Just trying to get your position straight here. What else might we think you were doing?
- thebean11 6y ago> It already does, if a particular regulated activity involves plugging devices into outlets. Can you be more specific about the existing regulated activities you're talking about? I don't get your point but I might just be missing something here. AFAIK, the reasons for existing regulations on "activities or devices" are not related to electrical usage..
- colinmhayes 6y agoEnergy is fungible. Bitcoin using renewables just means that other electricity consumers are using fossil fuels.
- thebean11 6y agoEnergy is extremely difficult and expensive to store, it's not fungible over a time period. This is why energy rates fluctuate during the day. It's also not fungible between consumers not connected to the same grid. When generating energy (either with fossil fuels or renewables) energy is often wasted because there is no immediate consumer or way to store it. What you say _can_ be true, for example additional consumers of energy on the national grid, during times of high demand, will likely result in more energy production. It is not true as a rule though.
- jfk13 6y agoAlso much less useful.
- skohan 6y agoIs that true? That's shockingly more than I would have imagined
- Sohcahtoa82 6y agoThe thing is, it doesn't have to. Bitcoin (and all other Proof-of-Work cryptos, which is basically all the major ones) only consume tons of power because the incentive to mine creates an arms race where whoever has the most hashing power makes the most money. Bitcoin could be run on a single computer mining on a 10 year old CPU, but then it would be highly centralized, and decentralization is touted as one of the greatest features of Bitcoin. But with the incentive to run your own miner(s), and make it/them as powerful as you can to get the largest piece of the block reward pie, it ends up being a massive energy sink. That's why people are pushing for the change to Proof-of-Stake in Ethereum. By taking away the incentive to waste tons of power on mining, it drastically reduces the carbon footprint of it.