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> urns out the decentralised currency for the people is also an environmental disaster built on planned obsolescence. Who knew. Only proof of work systems, suc
by SJC_Hacker 8mo ago
> urns out the decentralised currency for the people is also an environmental disaster built on planned obsolescence. Who knew.
Only proof of work systems, such as Bitcoin. Proof of stake such as Ethereum is a lot less energy intensive
- dijit 8mo agoethereum has a similar ewaste problem
- SJC_Hacker 8mo ago> ethereum has a similar ewaste problem Is it any worse now than say, the NYSE ? This reference says energy usage was 0.0026 TWh (2.6 GWh, or 2600 MWh) in a year https://ethereum.org/energy-consumption https://ethereum.org/energy-consumption If the power was used over the whole year (and not just one hour) (2600 MWh / year) / (24 * 365 h/year) = 0.29 MWh = 296 kWh. Thats like hair dryer levels of power consumption (if the hair dryver was left on all the time)
- dijit 8mo agoWhy are you even trying to argue energy consumption when the topic is eWaste due to bitcoin ASICs? Even if we continue down this route, its something like 15% of global stock transactions going through NYSE, per transaction its extremely efficient when compared to Ethereum; but thats not the argument anyway- its that the hardware used for mining is barely useful outside of that use-case, and the shelf-life is very low to boot. If there was a use-case, we’d have found it by now, since 30,000 Tonnes a year of it ends up in landfills, surely someone would dig it out or buy it if it had utility.