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And this also doesn’t take into account CO2 emissions from mining, manufacturing mining rigs, building and discarding mining infrastructure.
by startupsfail 4y ago
And this also doesn’t take into account CO2 emissions from mining, manufacturing mining rigs, building and discarding mining infrastructure.
- halpmeh 4y agoThat seems largely irrelevant to the topic at hand (whether or not a majority of those who purchase Bitcoin are in the red).
- sdenton4 4y agoExternalities matter. The report is showing people (and thus society) doing badly on average, and society overall is doing even worse because of the additional external costs.
- capableweb 4y ago> Externalities matter Sure, agree. But I don't think that's the topic here, the general harm/good done by cryptocurrencies, the submission is talking exclusively about profits or the lack of them rather. If I invest 100 USD in Facebook and the stock gains double its value, I now have profits, no matter how bad Facebook is for the world.
- startupsfail 4y agoYou’ll have unrealized gain. If, at the same time, some foreign government was sponsoring Facebook to dismantle the democracy, and successfully achieved that, overall, you might be worse off.
- startupsfail 4y agoNo, it is relevant. The switch to proof-of-stake is a recent one, there was plenty of CO2 emitted by mining ETH. And there is still infrastructure that supports it. These are negative externalities, just like the negative externalities of crypto fraud, black markets and money laundering. And it seems there isn’t much to show on the good side, for all these negative externalities.
- halpmeh 4y agoIt's not relevant to the topic at hand, which is whether or not most investors have lost money on Bitcoin for a very specific definition of "lost money". We can't talk about all things at all times. The discussion about Bitcoin's environmental impact can happen elsewhere.