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1.
by hrhrhrhrhr 5y ago
Most of mined Gold is used as an investment vehicle or to make jewelry. Source: https://www.statista.com/statistics/299609/gold-demand-by-in...
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by hrhrhrhrhr 5y ago
Gold mining consumes 240.61 TWh per year, which is comparable to the electrical energy consumed by a country like Australia. Source: https://globalenergyprize.org/en/2021/11/24/the-bitcoin-gold...
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by hrhrhrhrhr 5y ago
What does it take to register a new TLD?
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by hrhrhrhrhr 5y ago
If I meant COVID I'd say COVID. When I say flu I mean flu. Why should spreading "flu" not be considered violence? Not deadly enough? Then who is going to decide where is the line drawn? The libertarian answer to protecting yo
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by hrhrhrhrhr 5y ago
NAP is about physical violence. The problem with your way of thinking is that it lets you interpret whatever you feel like as "violence". Should infecting others with a flu also be considered violence? What about blasphemy? What a
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by hrhrhrhrhr 5y ago
No, NAP is pretty clear. It's just some people treat it as a silver bullet, when it's only a fundamental building block. Libertarians are not against having contractual jurisdictions which would mandate being vaccinated on a certa
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by hrhrhrhrhr 5y ago
Violating NAP requires taking some action, you can't just "aggress" by not doing anything.
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by hrhrhrhrhr 5y ago
Going over your main points: 1. Payment for LN per "hop" costs about 1 sat. It's hilariously small, so no, it doesn't disencentivize anyone from using it. And best of all, the privacy doesn't depend on large anonymi
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by hrhrhrhrhr 5y ago
Transactions on LN are almost as secure as regular transactions onchain. There is no centralized party involved that you have to trust, to use LN. The funds just get locked on a multisig UTXO and can be unlocked at any moment by broadcastin
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by hrhrhrhrhr 5y ago
Bitcoin is a decentralized monetary system. Nobody controls it, nobody can print new bitcoins out of thin air, nobody can confiscate your bitcoins as they could from a bank account. The fees are quite low, considering that you can securely
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by hrhrhrhrhr 5y ago
>If proof-of-work chains are putting out the same amount of energy as the total energy expenditure of gaming, then proof-of-work chains are not an environmentally feasible solution at scale. Chain capacity does not scale as new miners ar
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by hrhrhrhrhr 5y ago
Energy usage of ETH would've been exactly the same whether those artists or anyone else created NFTs. So the comparison with gaming is not really correct. Playing PS5 consumes energy in a direct way. Creating an ETH transaction doesn&#
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by hrhrhrhrhr 5y ago
I was not talking about better or worse, I was pointing out the flawed way to compare crypto mining energy usage with other industries. >In which case... yeah, a person who's invested into video games is unquestionably doing somethi
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by hrhrhrhrhr 5y ago
Transactions don't consume energy. If everyone suddenly stopped making transactions, miners would still be there, running their machines to mine empty blocks. So thinking in terms of "energy per transaction" is wrong, you sho
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by hrhrhrhrhr 5y ago
What do you mean by "social consensus chain"? Any UTXO that you create now, when the mining difficulty is quite high, is going to have a very high security, even if the mining difficulty goes down afterwards.
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by hrhrhrhrhr 5y ago
That's like saying that cab drivers are incentivized to maximize their gas consumption. No, miners are actually incentivized to minimize their energy consumption while maximizing output.
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by hrhrhrhrhr 5y ago
I think if the value drops then the security requirements would also drop. And all the existing UTXO's that were already mined when the difficulty was high would also stay secure, so they'd be comparable to Gold bars that could be
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by hrhrhrhrhr 5y ago
The abstract reads more like some emotional comment on social media rather than part of a scientific paper.
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by hrhrhrhrhr 5y ago
Blockchain itself cannot be carbon negative or neutral. Miners choose what energy source they use for mining, which can be anything from fossil fuels to geothermal energy from volcanoes.
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by hrhrhrhrhr 5y ago
That's not really fair, software security is better than ever.
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by hrhrhrhrhr 5y ago
My criteria for forced labor is being criminally charged for refusing to work.
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by hrhrhrhrhr 5y ago
People in USSR were kept inside against their will and were used as a forced labor. They absolutely earned their wealth, not the nomenklatura.
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by hrhrhrhrhr 5y ago
The APR is paid in the coin itself, not dollars, so they just inflate the supply to pay the "yield".
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by hrhrhrhrhr 5y ago
If the value of Bitcoin stops going up, sooner or later your debt grows larger than the amount you were allowed to borrow and your collateral gets liquidated by someone who implemented the fastest liquidator bot. https://docs.aav
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by hrhrhrhrhr 5y ago
This is the actual issue with DeFi's "decentralization", not what the article talks about. Bitcoin remains the only decentralized cryptocurrency that keeps living without governance.
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by hrhrhrhrhr 5y ago
If you believe that the value of Bitcoin is going to go up, it makes sense to lock is as a collateral and spend the borrowed fiat instead of selling the Bitcoins.