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One argument against that line of thinking is that energy production has negative externalities. If you use a lot of electricity, its price goes up, which incen
by adwn 2y ago
One argument against that line of thinking is that energy production has negative externalities. If you use a lot of electricity, its price goes up, which incentivizes more electricity production, which generates more negative externalities. It will also raise the costs for other consumers of electricity.
Now that alone is not yet an argument against crypto currencies, and one person's frivolous squandering of resources is another person's essential service. But you can't simply point to the free market to absolve yourself of any responsibility for your consumption.
- monero-xmr 2y agoI greatly despise video games. Why is that not a waste of energy? If you are entertained by something, even if it serves no human purpose other than entertainment, is that not a valid use of electricity?
- specialist 2y agoUnintentionally, the energy demands of cryptocurrencies, and data centers in general, have finally motivated utilities (and their regulators) to finally start building out the massive new grid capacity needed for our glorious renewable energy future. Acknowledging that facilitating scams (eg pig butchering) are cryptocurrency's primary (sole?) use case, I'm willing to look the other way if we end up with the grid we need to address climate crisis.
- monero-xmr 2y agoTo pretend romance / affinity scams and crime were created by crypto is absurd. It’s fair to argue crypto made crime more efficient, but it also made the responsible parties quicker to patch holes. The primary use case of crypto is to protect wealth from a greedy, corrupt, money-printing state. Everything else is a sideshow
- specialist 2y ago> primary use case of crypto is to protect wealth Merely trading governments for corporations. > Everything else is a sideshow Agreed. Crypto is endlessly amusing.
- monero-xmr 2y agoWhat corporation made bitcoin?
- specialist 2y agoApologies, I assumed you knew what cryptocurrency is and how it works. My bad. I'm really not well suited to explain this stuff. Here's an article for a general (layperson) audience to help you on your journey. https://www.cbsnews.com/news/cryptocurrency-bitcoin-virtual-currency-explainer/ https://www.cbsnews.com/news/cryptocurrency-bitcoin-virtual-... Happy hunting!
- monero-xmr 2y agoI have been intimately involved with cryptocurrency since 2010