3 ms·
I don't get the environment friendliness argument. It seems to imply that resources consumed by sustaining cryptocurrency transactions are imploding out of cont
by Self-Perfection 5y ago
I don't get the environment friendliness argument. It seems to imply that resources consumed by sustaining cryptocurrency transactions are imploding out of control. I am not familiar with coins except for bitcoin, but at least of bitcoin this is not the case. Market mechanisms regulate bitcoin mining.
Energy consumed by mining is limited by income that miners can get, and this income is limited by mining_rate + fee_rate. mining_rate gradually diminishes and therefore in the end it would be just fee_rate. Thus, bitcoin users would be paying for processing their transactions. Why do we have a right to forbid them spending their money on this? Why is it OK to let somebody spend his/hers money on gas for travelling by car instead of bus or train, but in the same time it is not OK for them to spend their money on doing their value transactions the way they like?
If we as a society assume that we cannot afford to spend so much fossil fuel on energy as today this means we have not set proper high enough price on it.
Just rising the energy ( gas / electricity / etc ) price and stopping obsessing about each particular thing if it is environmental friendly or not seems to me a much more cogent, simple and efficient solution.