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You're going to compare the entire banking system, which services essentially every American to this complete waste of time and resources which services a vanis
by 303uru 3y ago
You're going to compare the entire banking system, which services essentially every American to this complete waste of time and resources which services a vanishingly small number of people?
>The point is the amount of crypto being mined.
Is it? According to who? You? What's the utility of crypto? I've yet to see any materialization other than casino and funding terrorism.
- digging 3y ago> Is it? Yes, because cryptocurrency is the thing we're measuring. The number of miners is meaningless in this conversation. It would be like talking about how many companies manufacture wind turbine blades.
- earthling8118 3y agoHow would the power usage of bitcoin scale if it did serve every American? Until that question has an answer I don't think this argument can be considered valid. It's an incredible waste as it is, but just dismissing it outright doesn't make sense. If the number of transactions scaled up would the power usage become more reasonable?
- ben_w 3y agoBitcoin by itself cannot serve every American, regardless of power consumption, and that's by design. It can't even serve every lunch in Vermont without extra layers running on top of it.