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One problem with bitcoin is requiring too much energy use, but anyways it is independent from the "computer payment file" which can be used with multiple method

One problem with bitcoin is requiring too much energy use, but anyways it is independent from the "computer payment file" which can be used with multiple methods of payment. (Computer payment file is also intended to solve some other problems involved with computer payment, including various types of cheating that the merchant might do.)

mistercheph 1y ago
How much energy is consumed to back the value of USD?
- KetoManx64 1y ago
  On top of that, how many people die each year due to the American War Machine that can only exist due to the US Dollar and the Fed's ability to print money and pass off the debt to the future generations?
adolph 1y ago
> problem with bitcoin is requiring too much energy use How much energy is the "right" amount? How does that compare to the amount of energy used for paper and coin? Can any amount be more than the "right" amount as long as the cost of the energy is willing borne by the entities conducting the transaction?
- viraptor 1y ago
  ETH (for example) at least sets a reasonable lower level of what's possible. BTC is just wasteful by comparison.
  - KetoManx64 1y ago
    There's a reason that ETH is barely hanging in there and will never catch up to Bitcoin. I doubt it will survive the next decade.
    - viraptor 1y ago
      Barely hanging there? With the second largest market cap and 5th trade volume (for the coin itself, higher for the network)?
  - fruitworks 1y ago
    It is easy to save energy when you are OK with a lower level of decentralization. I could probably run a payment processor on my computer alone that handles 100k transactions per second. The proof of stake idea is like a ponzi scheme
jgilias 1y ago
I happen to know a guy who has invested a lot in solar parks. He’s deeply unhappy about that investment because the electricity prices are often zero or negative when the sun is up and he’s underwater on that investment. I also know a guy who recently installed a dummy load in a thermal power plant which they switch on when they can’t give the power to the network due to overcapacity, as they can’t just switch off the plant willy nilly. The point is, in a grid with lots of renewables in it not only there’s a lot of stray energy that can be captured, but a flexible load that can be switched on/off in milliseconds is actually hugely valuable if we’re to have stable grids.
Ferret7446 1y ago
It's an unfortunate mathematical requirement to create trust in a hostile/trustless reality. Just like how it's inefficient but necessary to spend money on defense in a world with potentially hostile foreign powers, we need to spend energy to ensure no parties can compromise the blockchain. There's no way around it (no, PoS is flawed).

mistercheph 1y ago

How much energy is consumed to back the value of USD?

KetoManx64 1y ago
On top of that, how many people die each year due to the American War Machine that can only exist due to the US Dollar and the Fed's ability to print money and pass off the debt to the future generations?

adolph 1y ago

> problem with bitcoin is requiring too much energy use How much energy is the "right" amount? How does that compare to the amount of energy used for paper and coin? Can any amount be more than the "right" amount as long as the cost of the energy is willing borne by the entities conducting the transaction?

viraptor 1y ago
ETH (for example) at least sets a reasonable lower level of what's possible. BTC is just wasteful by comparison.
- KetoManx64 1y ago
  There's a reason that ETH is barely hanging in there and will never catch up to Bitcoin. I doubt it will survive the next decade.
  - viraptor 1y ago
    Barely hanging there? With the second largest market cap and 5th trade volume (for the coin itself, higher for the network)?
- fruitworks 1y ago
  It is easy to save energy when you are OK with a lower level of decentralization. I could probably run a payment processor on my computer alone that handles 100k transactions per second. The proof of stake idea is like a ponzi scheme

jgilias 1y ago

I happen to know a guy who has invested a lot in solar parks. He’s deeply unhappy about that investment because the electricity prices are often zero or negative when the sun is up and he’s underwater on that investment. I also know a guy who recently installed a dummy load in a thermal power plant which they switch on when they can’t give the power to the network due to overcapacity, as they can’t just switch off the plant willy nilly. The point is, in a grid with lots of renewables in it not only there’s a lot of stray energy that can be captured, but a flexible load that can be switched on/off in milliseconds is actually hugely valuable if we’re to have stable grids.

Ferret7446 1y ago

It's an unfortunate mathematical requirement to create trust in a hostile/trustless reality. Just like how it's inefficient but necessary to spend money on defense in a world with potentially hostile foreign powers, we need to spend energy to ensure no parties can compromise the blockchain. There's no way around it (no, PoS is flawed).