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True, it's also accelerating the destruction of the environment, helped people make money off other people's artwork, and introduced a new generation of people
by mikewhy 5y ago
True, it's also accelerating the destruction of the environment, helped people make money off other people's artwork, and introduced a new generation of people to pump and dump schemes over receipts.
- threecheese 5y agoTechnically Ethereum is moving to proof of stake; no more miners, no more massive (well, less egregious) environmental impact. I would say that BTC is the big problem here, which is one reason why I personally don’t think it will have staying power long term. You have a point about proof of work in general though.
- floatboth 5y agoAnd everyone who still wants to make money with mining it would just switch to Ethereum Classic or something.
- xur17 5y agoMining is a fairly efficient market over longer time periods, so net energy + hardware costs will naturally be fairly close to the value of the mined coins. Which means everyone mining Ethereum can't switch to Ethereum classic, or it would no longer be profitable for anyone.
- JustFinishedBSG 5y agoEthereum has been moving to PoS next semester every semester for the last years. Spoiler alert: it won't happen.
- ahallock 5y agoAnd fiat has also enabled those things, to a greater degree I would argue -- what's your point?
- yoavm 5y agoFiat also enabled these things, but I can also buy bread with it and pay my school, and I believe that's how most people interact with it. The point is that cryptocurrencies are mostly used for the OP wrote above.