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Fair enough. Sounds like we're mostly on the same page on this issue after all, except I don't want to see bitcoin eliminated, just somehow figure out a way to
by cableshaft 5y ago
Fair enough. Sounds like we're mostly on the same page on this issue after all, except I don't want to see bitcoin eliminated, just somehow figure out a way to significantly reduce how much electricity it's started consuming and for it to be run on 100% renewables someday (hopefully sooner than later).
- arcticbull 5y agoI would love it to be, but it won't, I concede. Its energy and resource consumption cap is proportional to its unit price times block reward. For the foreseeable future, as long as number go up, consumption will go up. And this is the most critical time for climate change in our lives. Any green energy we generate must go to displacing carbon-intensive processes or we'll be trading bitcoin for citrus from rafts on waterworld. The worst part is, once we run out of block reward, there's no guarantee people will be willing to pay enough per transaction to actually secure the network to any meaningful degree, so all this resource consumption today may well be for nothing.