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> the way cryptocurrency is changing lives in the developing world. I wonder, if people in the developing world could decide between using this enormous amount

> the way cryptocurrency is changing lives in the developing world. I wonder, if people in the developing world could decide between using this enormous amount of electricity for "crypto", or using it to power desalination plants (facilities that turn seawater into drinking water) which one would they chose? Just FYI: 25% of the worlds population, that's almost 2 BILLION people, do not have access to safe drinking water.

paxys 5y ago
Is there some magical way of transporting electricity from where the crypto miners are located to where the developing nations could use it in the ways you suggested?
- dotancohen 5y ago
  Rays of light, but it's not magic. Actually, we don't even need to send the rays from where the crypto miners are located. The sun already provides more than they can. We just need to install the receivers (solar panels).
bellyfullofbac 5y ago
It's a bit tragic that people get hard ons for the number of mining rigs they've purchased instead of water wells or similar, and number of dollars obtained rather than hungry people they've provided with food. But who am I to preach, I'm part of "people" in the above sentence...
- sputr 5y ago
  In my opinion all of this is just a version of tragedy of the commons. Doing good only leads to you being exploited. At this point I only judge people on the harm they avoid doing to others. Just don't make a world a worse place and we're good.
seibelj 5y ago
I wish every dollar spent on video games was just given to the world’s poor instead. Just crazy that with all the suffering in the world, billions of people spend money on frivolous entertainment.
- ethanbond 5y ago
  People who play video games don’t act like video games are a technological gift from god that will cure all our woes and for which there are no negative externalities.
- cute_boi 5y ago
  The problem here is we simply can't. If people were good and elites cared about plebs we wouldn't be in situation where there are poor peoples. Tax money would suffice in many cases. Lets say we spent every dollar spent on video games. But once we start draining money to these countries human greed starts to activate and only few amount of money will reach to hands to poor. When I was kid my parents used to tell me for every donation of 100 only 10 goes to poor people (can't verify). But if we go to visit poor country we will realize money is not that big problem. The biggest problem is greed, corruption and malfeasance.
medo-bear 5y ago
I can see merit to the argument that cryptocurrencies can provide easy and fast access to financial instruments to poverty stricken people that would otherwise be hard or even impossible to obtain. take for example the case when family members who work in high wage economies send money back home. it's not hard to see how cryptocurrencies can help in this situation: faster easier and cheaper transactions
- usrbinbash 5y ago
  >easy and fast access to financial instruments Stable financial instruments. >it's not hard to see how cryptocurrencies can help in this situation: faster easier and cheaper transactions Transactions speed can vary and/or be tied into the transaction fees one is willing to pay. How does that make the life of people who already don't have enough disposable income easier?

paxys 5y ago

Is there some magical way of transporting electricity from where the crypto miners are located to where the developing nations could use it in the ways you suggested?

dotancohen 5y ago
Rays of light, but it's not magic. Actually, we don't even need to send the rays from where the crypto miners are located. The sun already provides more than they can. We just need to install the receivers (solar panels).

bellyfullofbac 5y ago

It's a bit tragic that people get hard ons for the number of mining rigs they've purchased instead of water wells or similar, and number of dollars obtained rather than hungry people they've provided with food. But who am I to preach, I'm part of "people" in the above sentence...

sputr 5y ago
In my opinion all of this is just a version of tragedy of the commons. Doing good only leads to you being exploited. At this point I only judge people on the harm they avoid doing to others. Just don't make a world a worse place and we're good.

seibelj 5y ago

I wish every dollar spent on video games was just given to the world’s poor instead. Just crazy that with all the suffering in the world, billions of people spend money on frivolous entertainment.

ethanbond 5y ago
People who play video games don’t act like video games are a technological gift from god that will cure all our woes and for which there are no negative externalities.
cute_boi 5y ago
The problem here is we simply can't. If people were good and elites cared about plebs we wouldn't be in situation where there are poor peoples. Tax money would suffice in many cases. Lets say we spent every dollar spent on video games. But once we start draining money to these countries human greed starts to activate and only few amount of money will reach to hands to poor. When I was kid my parents used to tell me for every donation of 100 only 10 goes to poor people (can't verify). But if we go to visit poor country we will realize money is not that big problem. The biggest problem is greed, corruption and malfeasance.

medo-bear 5y ago

I can see merit to the argument that cryptocurrencies can provide easy and fast access to financial instruments to poverty stricken people that would otherwise be hard or even impossible to obtain. take for example the case when family members who work in high wage economies send money back home. it's not hard to see how cryptocurrencies can help in this situation: faster easier and cheaper transactions

usrbinbash 5y ago
>easy and fast access to financial instruments Stable financial instruments. >it's not hard to see how cryptocurrencies can help in this situation: faster easier and cheaper transactions Transactions speed can vary and/or be tied into the transaction fees one is willing to pay. How does that make the life of people who already don't have enough disposable income easier?