4 ms·

jwz is exactly trying to solve the problem, in the only way that can work: politically. The only technological solution to the downsides of PoW is to not use P

• danuker 5y ago
  > opponents just have to solve the problems we've created... Cryptocurrency being in use means people perceive the cost of using them being less than the benefit from using them. If the problem is the carbon emitted for power generation, then tax the carbon emissions (which already happens in lots of jurisdictions). About Bitcoin being a Ponzi scheme, if this is true, then so are the current stock and bond market at absurd valuations (1.75% interest while inflation is 6.8%), where investors play musical chairs until the Fed and commercial banks stop printing money.
  • extra88 5y ago
    > Cryptocurrency being in use means people perceive the cost of using them being less than the benefit from using them. Most of the cost isn't born by those who benefit from it, it's an externality to them. > If the problem is the carbon emitted for power generation, then tax the carbon emissions (which already happens in lots of jurisdictions). There's still the opportunity cost of available low-carbon energy being frittered away on cryptocurrencies instead of something more useful.