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I don't think you can call it "irrational". The moment when people buy power plants just to mine bitcoins you have to admit we have a serious problem. So when y

I don't think you can call it "irrational". The moment when people buy power plants just to mine bitcoins you have to admit we have a serious problem. So when you say: > The environmental impact of the first generation PoW systems, mostly Bitcoin at this point, is a waste of energy in the mind of HN. The trust and security that it provides to the blockchain is not valued. First, we don't care what generation it is: the fact is that Bitcoin causes significant environmental damage. It is not "in the mind of HN", it's physical. As for what you call "trust and security", Bitcoin is an instrument of speculation (or investment, depending as you see it) and as such is extremely unstable, so for me it provides much lower level of trust and security than fiat currency. Not to mention alternative coins that appear and disappear every day.

Tangokat 6y ago
You're proving my point here right? The trust and security of the Bitcoin blockchain does not have value to you, so in your mind we're completely wasting all that energy. The fact is that a lot of "useless" things cost a lot of energy - Facebook? Useless to some, not to others. Personally I view Bitcoin as the first implementation, we can and should improve on that concept. See Polkadot, Algorand, Eth 2.0 etc. as the new generation which does not use up a lot of energy.
- dvfjsdhgfv 6y ago
  No, I don't think you are completely wasting the energy. I think the waste is disproportionately large in relation to other services providing some value to society, including the ones by FAANG. I understand that you personally view Bitcoin as the first implementation, but the reality is that it is now the dominant one that is starting to exert non-negligible influence on the planet we are all living in. And it is not fixable, because it is one of the core features of Bitcoin. Good luck convincing people holding millions in Bitcoins to migrate to altcoins.

Tangokat 6y ago

You're proving my point here right? The trust and security of the Bitcoin blockchain does not have value to you, so in your mind we're completely wasting all that energy. The fact is that a lot of "useless" things cost a lot of energy - Facebook? Useless to some, not to others. Personally I view Bitcoin as the first implementation, we can and should improve on that concept. See Polkadot, Algorand, Eth 2.0 etc. as the new generation which does not use up a lot of energy.

dvfjsdhgfv 6y ago
No, I don't think you are completely wasting the energy. I think the waste is disproportionately large in relation to other services providing some value to society, including the ones by FAANG. I understand that you personally view Bitcoin as the first implementation, but the reality is that it is now the dominant one that is starting to exert non-negligible influence on the planet we are all living in. And it is not fixable, because it is one of the core features of Bitcoin. Good luck convincing people holding millions in Bitcoins to migrate to altcoins.