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With PoW energy usage is roughly proportional to the $ price of the asset regardless of the number of transactions it can process. A successful Bitcoin means hi
by quickthrower2 4y ago
With PoW energy usage is roughly proportional to the $ price of the asset regardless of the number of transactions it can process. A successful Bitcoin means higher and higher energy usage. Whereas anything else success means making it more efficient not less.
- Shorel 4y agoAnd every four years it will double in price, and right now it consumes 0.5% of all electricity, which means in 56 years it will consume 82% of all electricity, assuming we produce roughly the same electricity as today. Is this your argument?
- kaba0 4y agoIt consuming 0.5% is already such an absolutely huge red flag that I really can’t fathom any reason to continue with it.
- quickthrower2 4y agoNot really. It is more immediate than that. Right now we heavily rely on CO2 emitting power generation. And if bitcoin becomes wildly successful, or simply gets into another bubble, while trying to combat climate change, and it stays on PoW that is an issue.