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Mining profitability is a function of the price of the underlying asset. Tank prices - by limiting fiat inroads for example - and you significantly limit minin
by ArkanExplorer 6y ago
Mining profitability is a function of the price of the underlying asset.
Tank prices - by limiting fiat inroads for example - and you significantly limit mining activity.
The scale of waste (of electricity, human effort, hardware) dedicated to cryptocurrencies is staggering.
- chii 6y agoit's not a waste if somebody was willing to pay for it.
- frombody 6y agothis statement is extremely subjective
- chii 6y agoexactly - the concept of waste is subjective. If you are arguing that energy production has way too many externalities not being accounted for, then i would agree. But that's not "waste" - that's bad regulation and pricing. A globally enforced carbon tax will fix that problem, and allow the market price to reflect the costs completely. Then, if people wish to spend/invest their wealth on mining, let 'em. It's not a "waste", not any more than watching a theater production is a "waste".