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What they don't mention in the news stories that say "Crypto now uses more electricity than Denmark" is that Youtube still uses more electricity than crypto, or

What they don't mention in the news stories that say "Crypto now uses more electricity than Denmark" is that Youtube still uses more electricity than crypto, or all the electricity used by traditional payment processors and banks. Youtube could be considered more wasteful than crypto (depending who you ask) and it is never mentioned when people talk about "wasteful electricity usage". The conspiratorial part of me wonders why that would be? Is it because it is actually a threat to large payment processors that if crypto were to succeed would make them obsolete in the future? I think that there is a lot of problems with the current crypto market, the electricity usage while concerning isn't the biggest issue with these electronic currencies.

imtringued 6y ago
Translation: Running an electronic Bitcoin mining army is fine even if it provides no meaningful benefits beyond military spending. I'm honestly surprised that literally every comment that is defending Bitcoin mining energy is always pulling out the same poorly though out argument as if knowing that electricity is being wasted is a recreational activity in its own right. Please come up with better rebuttals. Here is a freebie: The block reward goes down over time and thus the economic incentive to waste energy. The transaction fee goes up to compensate and the transaction fee is directly paid by users who derive value from the platform, otherwise they wouldn't pay the fee in the first place.
- crypto-skeptic 6y ago
  > Translation: Running an electronic Bitcoin mining army is fine even if it provides no meaningful benefits beyond military spending. No. I never said that. When did I say that. I never said that? I get very bored by people that try to put words in my mouth. Hackernews (this isn't my first account here) is like this. It is horrifically boring. > Please come up with better rebuttals. Here is a freebie: It is a perfectly fine rebuttal. At the moment the only reason anyone is buying crypto is because they think it is going to be worth more in the future. Most aren't buying it for transactions at the moment. If you can somehow so that is false, please do so otherwise don't be an asshat. God I hate this site. It is little better than reddit these days.

imtringued 6y ago

Translation: Running an electronic Bitcoin mining army is fine even if it provides no meaningful benefits beyond military spending. I'm honestly surprised that literally every comment that is defending Bitcoin mining energy is always pulling out the same poorly though out argument as if knowing that electricity is being wasted is a recreational activity in its own right. Please come up with better rebuttals. Here is a freebie: The block reward goes down over time and thus the economic incentive to waste energy. The transaction fee goes up to compensate and the transaction fee is directly paid by users who derive value from the platform, otherwise they wouldn't pay the fee in the first place.

crypto-skeptic 6y ago
> Translation: Running an electronic Bitcoin mining army is fine even if it provides no meaningful benefits beyond military spending. No. I never said that. When did I say that. I never said that? I get very bored by people that try to put words in my mouth. Hackernews (this isn't my first account here) is like this. It is horrifically boring. > Please come up with better rebuttals. Here is a freebie: It is a perfectly fine rebuttal. At the moment the only reason anyone is buying crypto is because they think it is going to be worth more in the future. Most aren't buying it for transactions at the moment. If you can somehow so that is false, please do so otherwise don't be an asshat. God I hate this site. It is little better than reddit these days.