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>Any civilization sufficiently progressing will use more and more energy Efficiency is still a net good. Even if you don't believe that CO2 in the atmosphere c
by D13Fd 6y ago
>Any civilization sufficiently progressing will use more and more energy
Efficiency is still a net good. Even if you don't believe that CO2 in the atmosphere causes climate change, every form of electricity generation has negative side effects for society, including renewables.
Normally the benefits greatly outweigh the costs, but that's not true for proof-of-work systems when considered in light of the alternatives.
>Bitcoin could definitely be more energy efficient
Exactly. One way to do that would be to use something other than proof of work.
>Why are we attacking Bitcoin for using electricity instead of simply pushing for more renewable energy sources?
Because increasing the demand for electricity more than necessary increases the cost to all of us––both the direct economic cost in our electricity bills and the environmental and societal costs. This is true whether the energy is renewable or not.
>At the end of the day it seems to me that any free society that supplies energy as a service shouldn’t be dictating what individuals do with that electricity as long as they pay for it
Wasteful energy use causes problems that society as a whole has to bear. Think about what would happen if we said things like "any free society that permits land ownership should permit nuclear waste disposal on any private property." It just doesn't work out, because society as a whole ends up paying the cost.
- smashem 6y ago> Because increasing the demand for electricity more than necessary increases the cost to all of us––both the direct economic cost in our electricity bills and the environmental and societal costs. This is true whether the energy is renewable or not. If my mining operation is completely disconnected from the grid, how will that have any impact on grid supply pricing? (not focused on the upfront capital or operational costs, just the mining energy itself)
- D13Fd 6y agoI wouldn't be worried about off-grid systems personally. That seems like a fair way to reduce the negative side effects. But, to answer your question, even if 100% of mining were off-grid: 1) Setting up and maintaining a cryptocurrency mining operation still takes up tons of resources, resulting in scarcity and higher prices (see, e.g.: many gamers can't buy GPUs right now) 2) This is likely minor, but the land taken up by your cryptocurrency mining operation could be put to more productive use, even if unmaintained (acting as a carbon sink). 3) Even an off-grid solar operation has many environmental impacts, including all of the on-grid energy that went into making that equipment, all of the pollution caused by manufacture, and all of the use of society's infrastructure that the manufacturing tied up.