To paraphrase Alan Watts slightly, do you know of a law that set everything to right? Let's just all sit around twiddling our thumbs eh? Since you obviously didn't really offer a counter solution.
To paraphrase Alan Watts slightly, do you know of a law that set everything to right? Let's just all sit around twiddling our thumbs eh? Since you obviously didn't really offer a counter solution.
https://news.ycombinator.com/newsguidelines.html
Perhaps it's not idle pedantry to observe that many of those who are angry about crypto energy usage couldn't care less about the energy wasted and pollution generated by other endeavors.
It's like an uncle of mine who is outraged that mosques get tax exemptions, but he doesn't care that churches get tax exemptions.
Clearly tax policy isn't a genuine concern for him. He's angry about something else that he won't say out loud.
To your point, though, I'm willing to wager that most of the people whose biggest problem with crypto is energy consumption would happily also support other harsh measures against all manner of pollution generating entities. I know I would.
So long as pollution and carbon are free or cheap, people will find wasteful ways to generate it.
Incentives work, and taxing carbon and pollution will incentive green alternatives.
Yah that's the point and business with less environmental impact will be more competitive. Industries/products with more of an impact will be more expensive, reflecting their true cost.
> Even worse, it just gives more capital to inefficient governments
Most pollution/carbon taxes are proposed to be revenue neutral, i.e. all the proceeds are returned to the tax base. This is also important because like other (non-luxury) consumption taxes, a carbon tax is regressive.
And what are those? District heating?
Solar is taking off not because we banned coal, but because it's cheaper than coal. If coal and natural gas were taxed according to their carbon output, solar would be even more ahead, nuclear may become more attractive as well.
Aluminum is heavily recycled not because it's green, but because it's significantly cheaper than mining new.
Incentives work. The free market responds to incentives, and works around regulations.
Have you observed this, or are you simply speculating?
Personally speaking I find it just as irritating of a pattern here that knee-jerk calls for "regulation" (i.e. bring in the coercive power of the state) or outright banning are so often floated as a/the solution to every problem. When legal coercion is suggested, it is entirely proper to bring up the existence of the dragons that lay down that road.
If cryptocurrencies didn't have the energy footprint, I would find them pretty uninteresting and/or ridiculous for various reasons, but ultimately it wouldn't bother me that people do what they do with them. When they start adding seriously to the global energy load in a time of climate crisis that makes them pretty offensive.
I don't think that's correct. I think that it's possible to care about both, but to be dismissive of misdirecting subject changes, i.e. "whataboutism".
Nicely done, nicely done.
Industrial production of greenhouse gases is nearly an order of magnitude larger than consumer production, but often inordinately the "guilt" burden is pushed to the consumers: Do you have an EV? Have you changed all your light bulbs to more efficient LEDs? Are you Vegan enough?
Here too: Bitcoin alone has risen to an order (or three) of magnitude more energy consumption than Facebook could ever use/do ever use to track people. (Cumulative, the rest of cryptocurrencies only further dwarf Facebook's comparative energy costs.) We can be angry about two things, we can be angry at both, but why can't we discuss the bigger problem first without getting into the weeds of all the smaller problems?
(And of course, the two order of magnitude problems above are inextricably linked: Bitcoin is on track to make many industrial users of electricity look like chumps and dwarf them by an order of magnitude. Nearly all of the consumer-side gains from veganism, LED lightbulbs, EVs has been offset again, if not entirely dwarfed, by cryptocurrency mining.)
People are bad at reasoning things at large enough scales, have a hard time gut understanding order of magnitude problems, so the fallacies keep creeping up, and keep getting weaponized by bad agents (the consumer "green guilt", the consumer "recycling guilt", so many other "demand-side fallacies" that if consumers just bought "smarter", problems would just go away, when really it's the suppliers that are in control).
It seems like you implicitly draw the 'fair' line between FB and BTC.
BTC's market cap is roughly equal to Facebooks. If a POW coin used facebook levels of energy at the same value, would you find that acceptable?
People seem to be intentionally conflating some things. A carbon tax is nice precisely because it avoids getting into weeds and is a general approach that applies equally to everything. Some people are proposing this and others are saying "don't get caught up in the weeds." What? Makes no sense. It just reinforces the poster's point: that some people's real motivation doesn't seem to be environmental, there's a strange focus on crypto specifically that makes it seem like they want it to be reigned in for other reasons.
The raw statistics already tell a story that the difference between "BTC" and "Facebook" is greatly exponential. Wanting to focus first on the (much) bigger exponent isn't necessarily a sign that people's real motivation is "conspiratorial" against crypto.
It is orthogonal to the issue at hand that PoW is using far too much energy per transaction/per capita/per GDP/per most metrics you want to point to. Not using the energy in the first place is always going to be greener, no matter how much PoW systems invest in renewables and their R&D! I can't see that as "misguided". An outright ban would get immediate results versus a carbon output tax would incentivize eventual results, maybe. That's not misguided, that's just a different perspective, and a different preference on an ideal time window to address the situation versus wishful thinking and "golly gee, sure hope the market eventually figures it out someday".
Gold mining uses something like 140 terawatt-hours of energy annually, and produces enormous pollution and environmental destruction in addition to that.
That's greater than Bitcoin's energy usage.
Since gold mining is so much more harmful to the environment, maybe we should outlaw that first before we work on smaller problems.
The most apropos commentary in this entire thread yet.
For now. Gold's been around for centuries, Bitcoin not even for two decades. It's got a momentum that Bitcoin may or may not match in the future.
The "other endeavors" category above was "digital endeavours" and specifically "Bitcoin versus Facebook", which is an order of magnitude difference.
You've introduced an entirely different category from the above discussion. It's maybe an interesting category [1] to discuss elsewhere, but is off topic from the fallacy we were discussing. Thanks for the non-sequitur, though.
[1] Personally, I'm not so sure it's a useful counter-comparison to Bitcoin: Gold is used in electronics and other industrial needs, beyond its service as a value store/commodity of interest to collectors. Gold is also increasingly rarely the "primary" focus of mines. Most of our Gold today comes from Copper mines and very few would argue we are mining Copper as a value store/solely for greed.
Gold mining isn't a fucking edge case if it uses more energy and produces far more environmental damage.
According to the principle you described, Bitcoin is the edge case we should ignore until we solve the gold mining problem.
It's not an edge case of the "electric waste of Digital Services", because it is an entirely different problem. So not only do we have "pedantry pageants" of edge cases, but we get to address the "pedantry pageants" of all the unrelated but seemingly related problems too?
Best i found for Bitcoin was 40-100 TWh per year: https://digiconomist.net/bitcoin-energy-consumption
And for Facebook it appeared that they used 5140 GWh in 2019: https://www.statista.com/statistics/580087/energy-use-of-fac...
So essentially:
Entity Consumption (GWh)
Facebook 5 140
Bitcoin 40 000 - 100 000
I wouldn't have expected Facebook to consume comparatively so little energy, if i'm doing conversions right.Attacking the motive or whatever is not said out loud is responding to a weaker interpretation
The (counter) solution is not to discuss for what to burn coal, but to finally stop burning coal, oil and gas. USA and EU could do that within a few years. And then stop or tax imports from countries that still do burn coal.
But that is inconvenient for many, so they prefer discussing nerdy Bitcoin PoW instead.
And secondly and most importantly, the government should not decide what products are allowed to be traded: Governments should lift all bans on products currently banned, all drugs, all books, all music, all banned clothing, etc.
Is there a concrete plan for how this would work documented somewhere? The ways I can think of doing this in the USA are all politically nonviable.
Which makes it a self-inflicted injury. Like corruotion in Russia - it can't be adressed by anyone else.
I can think of many things equally or similarly energy wasteful as Bitcoin.
It's a nondescript pollution factory from the Captain Planet cartoons.
Every other wasteful activity has just been overconsumptive, decadent, or externalized, not an actual burning of resources for no reason.
If you spent the same energy used to mine bitcoin on producing Legos or In-N-Out burgers, then you'd have much bigger problems.
I
https://news.climate.columbia.edu/2010/06/04/the-problem-of-...
https://blogs.scientificamerican.com/anthropology-in-practic...
Why not both?
All energy production will have an environmental cost, not just carbon dioxide emitting ones.
It is very possible to bring up edge cases in a productive manner. Expand the conversation to include them. there's no need to assume the first solution idea posted is meant to be the final form
By banning that because it uses "too much" energy now - what are we potentially losing? What developments in renewables, energy storage, or grid development simply won't be there, which we won't know we don't have, because we banned the largest for-profit, skin-in-the-game competitive contest for low-cost energy that the world had ever seen 25 years prior?
Banning it outright is short-sighted. Thinking about it from a higher level is a way of addressing the real issue of carbon emissions while allowing a phenomenon that has the potential to massively help, not hurt, to thrive.
The issue is clearly a tragedy of the commons - the cost (higher air pollution/higher energy costs) is socialized, while the profits are centralized. So the maximization function is cheap >>> anything else. Why wouldn't we expect more and larger coal plants versus research into fusion reactors?
Unsubsidized renewables are already the cheapest new source of energy generation. [0] Even if miners wouldn't be doing direct renewable research themselves, their capital investments into renewables in the name of competition and cost-savings would incentivize more efficient technologies.
In this case the immediate marginal profits from mining are centralized, and the larger benefits of more advanced renewable energy are socialized.
Plus - do you believe that the price of Bitcoin will rise forever? If it did, wouldn't that mean to you that it might be doing something important, to constantly have growth and demand for 100 years? Cuz if I thought so then I'd want to preserve it, not throw it away. Sounds important.
[0] https://www.forbes.com/sites/jamesellsmoor/2019/06/15/renewa...
Even if Bitcoin isn't intended to be "growing forever", the ecosystem can and will.
Shameless hijacking here: at what point will the heat consumption/release rate be so great that the Earth becomes unable to support life? I've seen some back of the napkin calculations that estimate a couple hundred years, at our current acceleration.
Don't just sit around making the same useless attacks against other people's arguments.
Instead, offer a different proposal and explain why it is better.
On this particular topic, I particularly hate the amount of fossil fuels getting burned on cryptocurrency. I'm less concerned about the amount of energy getting "wasted" on data centers in general. At least in most cases, there's alignment of interests when it comes to efficiency optimization. Facebook has an incentive to make their servers more power efficient over time, and scale their capacity to the size of their customer base. With proof-of-work, there's also incentive to increase power efficiency, but also incentive to scale up to capacity limits.
I think it is possible that proof-of-work cryptocurrency algorithms could be tuned to the point of striking a sustainable balance long term, but that would require the world economy to converge on one or two of them. The issue with that I think is the speculative nature of the currency's distribution of ownership. With large portions of the currency being held by a small number of anonymous people, and no clear path for the majority of normal folk to exchange their wealth, it's just not going to happen without some sort of societal collapse. I also struggle to have faith in a system meant to disrupt the global economy when its existence depends on global scale internet infrastructure.
And banning isn't really a proper solution in the first place. It's a literal avenue for tax revenue for countries at this point. The fact that PoS coins like Cardano and L2 solutions like Polygon are bullish despite the crash in Bitcoin shows something about investor sentiment surrounding the whole energy consumption ordeal. Voting with your wallet is a real possible solution and IMHO, people are starting to take the hint.
Here's my issue. There is such a thing as too-late in environmental matters. Once it's too late, it's a fire that sustains itself. Therefore, acting quickly matters. Addressing the source directly is obviously the superior solution. But I just don't see it happening at a fast enough rate. I see nuclear power in the same way. Yes, it's a little bit of trading one problem for the next, but it's a very necessary stop gap to buy us time.
In this case, tax carbon. Then people will decide what they want to spend their (expensive) energy on.
As for the carbon side of the issue, that isn't something which is specific to cryptocurrencies or any other kind of energy usage. I support carbon taxes and import taxes on CO2-producing goods/services, including cryptocurrency services, and I am certain that many cryptocurrency believers feel the same way.
OP proposal to ban cryptocurrencies for 'damaging environment' while we have companies who's entire business model is giving their customers cancer and preying on addicts.
2. For all their many flaws, those industries also provide something of value. If they shut down tomorrow, people would miss having cars, pesticides, fuels, medications, etc. but if every cryptocurrency suddenly halted tomorrow nobody outside of a few speculators would find their daily life any different. That doesn’t mean that those externalities aren’t real and don’t require action but they’re widespread because there is some kind of real value to society and you’d need a transition plan to avoid disrupting a lot of processes.
That doesn't mean that threads on HN can't take a nosedive and become flame wars. But that's what good moderation is here for, and I believe HN has that.
modern politics in a nutshell
You're presupposing this is a problem that needs a solution. I think myself and the commenter you are replying to would agree that either: A) it's not or B) it does not need to be solved by a regulatory body.
Instead of getting annoyed by people pointing out edge cases, it would be more productive to explain what criteria should be used, or admit this is a half baked solution.
unless of course those regulations are about regulating "big tech" for "censorship".
- There are those who are OK with high carbon emissions for various things that are a proven net-negative to the society or the planet - examples being, as I mentioned, social media, user tracking and advertising server farms, plus anything directly related to that. If these things are not a net-negative, then at the very least they could operate at the fraction of their current emissions, were they built with externalities in mind. To be OK with that but not with Bitcoin where it objectively provides some value by directly helping human lives (it is a store of value and a way to transfer money for people whose home currency is unstable or restricted by hostile governments, for instance), is hypocritical.
- Literally all legislation surrounding cryptocurrency (well, anything else too, really) by necessity has to be based on someone's opinions. Whose, is my question. Because that will shape what's allowed and what's not allowed to a great extent. Badly chosen opinion-givers lead to clusterf*cks like Disney, Sony and a few other giants effectively being in charge of worldwide copyright durations, which causes untold damage to the cultural commons.
In this particular situation, I may not have the solution, but I know that the offered one is a short-sighted knee-jerk reaction which has terrible implications for other things
Because it is an incredibly common fallacy to ignore boundary conditions and unintentional consequences when proposing a pie-in-the-sky regulation that is supposed to just fix things.
Any regulatory mechanism is essentially a machine that will need to work with every input and minimize some class of error, be it precision or coverage or some other system level metric. Turns out the most interesting part of such a system is indeed around the edge cases, and the difficulty of handling such cases is essentially the bulk of the difficulty of building such a system to begin with.
It is like saying "why don't we build a system that punishes criminals", which sounds very agreeable and popular at that level of construal, but is incredibly complex and sophisticated at the actual implementation level; e.g. to have a process to minimize false positive convictions rather than maximize conviction rates.
> It's SO trite, predictable, wearisome and boring
Not to sound harsh but HN does not owe anyone their favorite type of entertainment and honestly criticisms on those metrics are more trite, predictable, wearisome and boring themselves than anything else. Many find intellectual stimulation and systemic thinking entertaining and thus those comments enjoyable.
I will say that given the text based medium of HN, it can be hard to gauge whether one wants to have a mindful discussion or if one is just trying to mindlessly ding a poster.
Choose an argument which requires you to offer a viable and compatible alternative and you'll probably get a lot more ears.
Be kind. Don't be snarky.
Comments should get more thoughtful and substantive, not less, as a topic gets more divisive.
When disagreeing, please reply to the argument instead of calling names.
Please don't post shallow dismissals
That’s the first time I’ve ever seen someone describe Facebook as an “edge case”.
If $900,000,000,000 of market capitalization counts as an edge case, I’d think you must be hard to please at Christmas - those are some really high standards!
Maybe it's time to grow up and realize that the real world is highly complex and requires sophisticated tools, mathematics, and questions in order to better live in it?
Instead what people are doing is advocating for the government to come and point guns at people who don't do what they want -- even if they happen to be wrong. And when they are wrong, there are disastrous consequences as is currently extremely apparent in California. There are all kinds of perverse incentives which have resulted in the severe homelessness and extreme government waste.
The people advocating for this neither listen to the wisdom of Murphy's law, nor do they understand that when regulation impacts the market that regulation becomes what is bought and sold. Have you never heard of regulatory capture? That has worse human-cost impacts than leaving people to their own devices.
Vote with your wallet. Don't like the environmental cost of beef? Don't buy it. This works -- you can see it playing out.
https://ichef.bbci.co.uk/news/976/cpsprodpb/BA65/production/...
As another good counterexample to your "market solutions for everything": I don't want rhinos driven to extinction, so I vote with my wallet by never buying powdered rhino horn or other poached products, and donating to environmental charities to protect them. However, it's very likely that rhinos will be extinct in the wild within our lifetime. Does this mean "the market" has decided to exterminate wild rhinos? Should we eliminate poaching regulations and remove red-tape to stop distorting the free-market price of rhino horn?
Current 'free market' is just fancy name for barbaric ransaking
Sorry, sometimes there are great reasons for regulation.
Fixing the problem is up to you.
~"The reason things things never change is that those who stand to lose by change are the ones who hold all the power" -- Machiavelli
Humans optimise for short term gain, generally perceived gain over others, and rationalise this over large nebulous things like climate change, environmental health etc. They don't count externalities without being made to. And that's individuals. Companies are downright sociopathic and will happily defecate in their own back yard if they can make a dime out of it.
As a result we can already see what happens when people are left to choose themselves or the environment, they choose their own short term relative gain over the long term prospects of the whole species (before we even look at other species).
> Fixing the problem is up to you.
Yes, in a democracy it is, which is why I vote for political parties which will bring in regulations.
Huh? Great newa! I can pollute and create oilspills and its all someone else's problem!
One of those is the assumption of perfect competition. Electricity is far, far from being a market with perfect competition. How many electricity providers are you able to choose from at your house? I'm going to guess 1.
Another assumption that doesn't hold here is the absence of externalities. The full cost of damage to the environment is not included in the price you pay for electricity, so people are going to over-consume it.
You rail against laws and regulations but even in the second sentence of your post you assume their necessity with the phrase "create an economic system..." Laws and regulations are how you create such systems.
Regulatory capture is a real thing, but it's not a good argument against all regulation. Maybe it's an argument for relatively less regulation than we'd have otherwise. It's also an argument for doing regulation better.