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Whenever I read something this far off the mark, I genuinely wonder if it's total lack of intellectual honesty, or, having drank so much kool aid that this argu
by Fede_V 6y ago
Whenever I read something this far off the mark, I genuinely wonder if it's total lack of intellectual honesty, or, having drank so much kool aid that this argument genuinely makes sense.
Bitcoin transactions require the solution of a completely useless and expensive to compute mathematical computation. THIS IS BY DESIGN, TO MAKE IT SCARCE.
In the short term, we are facing a critical shortage of computer chips because bitcoin miners are buying critical infrastructure and using them to do absolutely useless math to speculate on an obvious bubble.
In the long term, we absolutely need to solve global warming, and the only way we will do so is if we figure out a way to decouple carbon emissions from productivity on a global scale. Bitcoin makes this task much harder - by its very definition, bitcoin literally scales with energy consumption. Energy prices and bitcoin prices (plus fixed costs due to mining equipment) will always be in some sort of equilibrium. Second - we need those chips that are currently calculating completely useless hashes to actually be put to use in productive sectors.
IF your attitude is some variant of - fuck you, I don't care about the world, I just want to get rich profiting from this bubble - fine, I can't convince you to care about the rest of humanity. But please - be clear eyed about this: there is not a single credible global warming scholar that believes Bitcoin will help. Not one. The only people who try to push forward incredibly shoddy thinkpieces about how Bitcoin/NFTs will help global warming are obviously Bitcoin speculators or paid shills.
- leventov 6y agoCorrection: we need to solve climate change in a short term, not long term.
- Fede_V 6y agoYou are right, I should have used short term and very short term.
- intotheabyss 6y agoVery disingenuous to include NFTs in the same category as Bitcoin. NFTs live on Ethereum which is in the process of changing its consensus from Proof of Work to Proof of Stake.
- detaro 6y agoa) NFTs as a concept aren't tied to a particular blockchain b) if you choose today to put yours on ETH instead of a chain that is today not PoW, you don't get to play the "but soon(TM)" card IMHO
- intotheabyss 6y agoa) Which just further proves my point that you shouldn't lump NFTs with Bitcoin. In practice however, all of the valuable NFTs are on Ethereum (afterall, NFTs are only as valuable as their underlying security) b) Not sure what your point is. Global climate change is by definition a long-term problem, and yet you're fretting about a couple of years. Right. This sounds more like a personal disagreement with Ethereum than a genuine interest in supporting green cryptos.
- detaro 6y agoNFTs on PoS chains exist today. Some artists explicitly chose those because of that. Everyone else needs a good answer why they didn't, and if "I can't get as rich with those" is a good enough answer. Especially given the push for legitimacy connected to NFTs.