So while this is going on https://www.youtube.com/watch?v=Vl6VhCAeEfQ (ted talk)
a lot of people created co2 to take part in a btc lottery and the winner was now randomly found.
I hate crypto :|
a lot of people created co2 to take part in a btc lottery and the winner was now randomly found.
I hate crypto :|
I think it’s worth noting that bitcoin uses a fraction of the energy required to mine gold for example.
It’s also a driving force in renewables, by stabilising energy grids (mining can use the spare capacity during quiet periods and switch off during peak hours).
So I don’t think it’s as black and white as “bitcoin uses energy = bad”
In NYC they bought a Gas power plant only for bitcoin. In Texas they had to pay millions to bitcoin miners for them to shut down. In china they stole power from normal people left and right.
It also allows to sell local limited energy globally and pushing energy into the trading/gambling area. Instead of giving local people cheap energy, some bitcoin miner will try to get as much of that cheap energy possible. It also incentivives using bitcoin miners to use flare gas instead of doing something to actually capture and use it as it is a limited resource.
Nonetheless PoW is stupid. its the worst scenario we can come up with in a society with scare resources and a very limited co2 budget by now ( have you watched the TED talk? ). And at the end bitcoins PoW system even still stand on our existing PoW system. Someone stole your bitcoins? You go to the police... Without our existing PoS System, you would need to keep your bitcoin wallet and address always anonyme otherwise you would trust our law and order (part of our PoS system) and you could literaly only send bitcoins around and nothing else. (Smart contracts are also not scalable and not stable solution to this issue).
Btw. yes gold need energy to be mined but its a one time cost YOU HAVE TO DO to use this material. Bitcoin is a Waste Resource all the time to use. And Gold has real value in science, manufacturing and in styling/model/art. Nonetheless we need to get the co2 production of Gold down and Bitcoin we just don't need. The best solution is to get rid of bitcoin and keep reducing co2 production for gold.
And yes i do have a lot more arguments on why bitcoin is useless.