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They're not designed to maximise consumption of energy priced below expected yield from burning it, and are thus several orders of magnitude less harmful to the
by notahacker 4y ago
They're not designed to maximise consumption of energy priced below expected yield from burning it, and are thus several orders of magnitude less harmful to the environment on a per transaction basis, and probably less harmful overall.
- latchkey 4y agoExpended energy per transaction basis is a popular misconception based on a misunderstanding of how PoW works in practice.
- notahacker 4y agoNope. It's a popular misconception that people think burning more energy than a mid-sized country to maintain a rounding error in the world's finances with pathetic transaction throughput is unacceptable only because we don't realise the energy use isn't strictly proportional to the transaction throughput. But it doesn't, it just requires acknowledging that crypto is burning more energy than most countries for a comparatively tiny number of people to gamble a comparatively tiny amount of wealth, and that the actual incentive structure of PoW (probability of block rewards based on consuming more energy than rivals) is the most wantonly environmentally destructive technology invented in a history which also includes leaded petrol and CFCs.
- latchkey 4y agoNice rant.