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No, there's dozens of such tokens already but they're not going to replace Bitcoin. The "high" energy consumption is what keeps the network secure in PoW btw, i

No, there's dozens of such tokens already but they're not going to replace Bitcoin. The "high" energy consumption is what keeps the network secure in PoW btw, it doesn't work any other way. You're going to see more "green" mining in the future and frankly the cheapest energy will always be overcapacity from renewable sources so that's where mining is going to gravitate towards even without the social pressure. Take farms in Iceland as an example.

nikeee 4y ago
How do they handle the additional e-waste?
- trompetenaccoun 4y ago
  Additional in relation to what? Legacy systems need hardware and electricity too, people tend to forget this. I'd like to see the math on how much additional hardware is needed, if at all. My suspicion is that there's a lot of redundancy in the current infrastructure because each bank has to maintain their own record, given that they can't trust each other. A trustless and decentralized system, if it became the base layer for interbank payments, might actually reduce resource consumption.
  - bradwood 4y ago
    Indeed. Trading floors. ATM networks. Primary and secondary data centres. Sky scapers in the financial district. Etc etc. That shit all needs power too. For as long as that shit is actually needed.
  - Deritiod 4y ago
    And? Bitcoin is already consuming tons of energy while not being anywhere close to what our current system is doing And not only in context of storing and sending money around. There is still no fraud detection or account recovery or any other protection in place. And all that while Bitcoin has not even a strategy on how you would be able to onboard everyone on the Blockchain fair and square. Everyone joining Bitcoin after someone else has less value. No one will be dumb enough to start trading their fiat with crypto in the long run. And clearly you don't know how banking works with your suspicion.

nikeee 4y ago

How do they handle the additional e-waste?

trompetenaccoun 4y ago
Additional in relation to what? Legacy systems need hardware and electricity too, people tend to forget this. I'd like to see the math on how much additional hardware is needed, if at all. My suspicion is that there's a lot of redundancy in the current infrastructure because each bank has to maintain their own record, given that they can't trust each other. A trustless and decentralized system, if it became the base layer for interbank payments, might actually reduce resource consumption.
- bradwood 4y ago
  Indeed. Trading floors. ATM networks. Primary and secondary data centres. Sky scapers in the financial district. Etc etc. That shit all needs power too. For as long as that shit is actually needed.
- Deritiod 4y ago
  And? Bitcoin is already consuming tons of energy while not being anywhere close to what our current system is doing And not only in context of storing and sending money around. There is still no fraud detection or account recovery or any other protection in place. And all that while Bitcoin has not even a strategy on how you would be able to onboard everyone on the Blockchain fair and square. Everyone joining Bitcoin after someone else has less value. No one will be dumb enough to start trading their fiat with crypto in the long run. And clearly you don't know how banking works with your suspicion.