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That's a great start, but don't stop there, because there are many more non-essential, energy wasting activities that we can also curtail: video games, leisure

That's a great start, but don't stop there, because there are many more non-essential, energy wasting activities that we can also curtail: video games, leisure travel, fashion, and so on

anyfoo 5y ago
Again, those don't have being inefficient by design built into their core. It's to everyone's best interest to make video games, leisure travel, and fashion, as efficient as possible. Cryptocurrencies' proof-of-work concept relies on being inefficient. If you get more efficient, difficulty goes up, to keep the process inefficient. None of the unimaginable amounts computations wasted on proof-of-concept have any inherent value at all, until someone hits that final "lucky" one, that allows the transactions to take place.
- herendin2 5y ago
  Have you ever considered why banks have walls, guards, and vaults?
  - anyfoo 5y ago
    I'm not sure what that has to do with my argument. Besides, banks have less and less walls, guards, and vaults, because they keep less and less cash on premise. This is a prime example of the monetary system having been made more efficient over time.
    - herendin2 5y ago
      >Besides, banks have less and less walls, guards, and vaults, because they keep less and less cash on premise. What then guarantees the security of the financial system and of our money?
      - arcticbull 5y ago
        I don't know how to break this to you but, like SSL and logins.
        herendin2 5y ago
        Only 'SSL and logins'?!
        arcticbull 5y ago
        I didn't realize we were making an exhaustive list, but it seems you meant at a systematic level. That would be the federal reserve and its charter, and the US government and its charter.
thrill 5y ago
I know - internet forums!
- herendin2 5y ago
  Yes, let's start with banning off-topic comment threads about someone's personal bugbear (these are obvious energy wasters), and ultimately we should put a stop to any non-productive discussions

That's a great start, but don't stop there, because there are many more non-essential, energy wasting activities that we can also curtail: video games, leisure travel, fashion, and so on

anyfoo 5y ago

Again, those don't have being inefficient by design built into their core. It's to everyone's best interest to make video games, leisure travel, and fashion, as efficient as possible. Cryptocurrencies' proof-of-work concept relies on being inefficient. If you get more efficient, difficulty goes up, to keep the process inefficient. None of the unimaginable amounts computations wasted on proof-of-concept have any inherent value at all, until someone hits that final "lucky" one, that allows the transactions to take place.

herendin2 5y ago
Have you ever considered why banks have walls, guards, and vaults?
- anyfoo 5y ago
  I'm not sure what that has to do with my argument. Besides, banks have less and less walls, guards, and vaults, because they keep less and less cash on premise. This is a prime example of the monetary system having been made more efficient over time.
  - herendin2 5y ago
    >Besides, banks have less and less walls, guards, and vaults, because they keep less and less cash on premise. What then guarantees the security of the financial system and of our money?
    - arcticbull 5y ago
      I don't know how to break this to you but, like SSL and logins.
      - herendin2 5y ago
        Only 'SSL and logins'?!
        arcticbull 5y ago
        I didn't realize we were making an exhaustive list, but it seems you meant at a systematic level. That would be the federal reserve and its charter, and the US government and its charter.

thrill 5y ago

I know - internet forums!

herendin2 5y ago
Yes, let's start with banning off-topic comment threads about someone's personal bugbear (these are obvious energy wasters), and ultimately we should put a stop to any non-productive discussions