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Sorry, that's a purely political take, nothing to do with economics or technology. Everyone is using energy to do the things they want to do. Notice that Bitco
by oleganza 5y ago
Sorry, that's a purely political take, nothing to do with economics or technology. Everyone is using energy to do the things they want to do.
Notice that Bitcoin is somehow specially demonized, but vacation travels or Li-Ion battery production is not. (Although, travels are largerly banned, so there's some progress there.)
I'm pretty sure even if everyone transitioned to "renewable energy" (also largely ideological concept), it would still be useful to demonize Bitcoin for using too much energy, like it's not good to "hoard" money. The reason for that is that Bitcoin is the hardest money there has ever been, so people are fighting to accumulate as much of it as possible before everyone else.
- pornel 5y agoSecurity of PoW depends on continuously using more resources than an adversary can gather. It has to always cancel out any advancements in efficiency, by design. It's unfixable in this aspect. This is unlike any other activity where resource usage is roughly proportional to the value delivered, rather than maximized on purpose. Even if we had a Dyson Sphere, we'd have to waste more than a half of it on mining.