RT @dstadulis: “Burning diesel to drive around trucks to pick up database-update tickets (paper currency), mfg cash counters/ATMs, cat-and-mouse counterfeiting R&D costs, is a better way to update a database; plus it lets Dear Leader decreases the purchasing power of money” https://t.co/98f5AzPCm9
are any of these better?
No, it's all biased garbage.
How about the fact that modern banking consumes magnitudes more power than Bitcoin, or the fact we are poisoning the oceans with radioactivity, or the continued use of bunker fuel, or the lakes of toxic runoff from processing rare earth elements.
No, it's a bunch of computers that are going to cause an environmental disaster, what a joke.
I'm with you on that. They are burning resources regardless. Besides evidence shows the global temp is going to rise 1 degree in the next 10 years regardless. However it does seem symbolic that if it was a contributing factor, we would be ruining our planet by trying to liberate ourselves from the slavery our financial system creates.
>we would be ruining our planet by trying to liberate ourselves from the slavery our financial system creates.
False, eliminating the banking system for crypto would be several magnitudes more efficient and possibly have a measurable affect **against** global warming. Crypto mining also does not produce any "extra" global warming, but just the same as any other human activity that requires energy, and can be produced with renewable sources just the same as anything else.
I see crypto fixing the serious bug we have that is global privatized mega banking system that "The International" portrays. However why are they still mining it when we haven't even used a fraction of what is already out there. Isn't that the point of mining, use and replenish. Unlike oil we know about how much Bitcoin there is all together. So whats the deal with this people buying up trailer parks in Alaska in small towns that burn fossil fuels still instead of powering it with Solar. Seems counter productive, almost like an AI created it so that we kill ourselves off quicker from greed.
> whats the deal with this people buying up trailer parks in Alaska in small towns that burn fossil fuels still instead of powering it with Solar.
Government intervention, and humanity's innate short-sightedness, which results in fossil fuels being priced far lower than they should be and quite predictably we have destroyed the planet because of it.
Trillions of USD both in pure inflation and in taxpayer subsidies have kept these prices suppressed for years which has also suppressed investment in alternative energy, there are sources which indicate that the entire US Shale Oil industry has been producing based on the availability of cheap debt rather than actual demand for years, resulting in massive price distortion.
This is plainly obvious anywhere that governments are blaming crypto miners for problems which are actually created by subsidizing energy costs with taxpayer money, as crypto mining is a form of *energy arbitrage*.
Your argument is extremely valid. I only hope while people are griping about BTC's energy consumption that they take a step back and realize the bigger picture that you just laid out. Maybe one spotlight will shine the way for the true star of fossil fuel waste...NASCAR
It’s hilarious that’s what it is, hopefully we can debate it with global politicians.
My guess is the beef and cattle industry will increase global warming by way more, but remember when people tell the truth about cattle and global warming, they tend to go missing or have vicious stories created about them, and their good name tarnished for life.
lol this is biggest pile of shit article I've ever read in my entire life edit I wonder how much a city like Denver uses on electricity for Bitcoin vs Cannabis. or I'd love to see Canada Cannabis electricity use vs Canada Bitcoin electricity use.
It would help if they also calculated the huge amount of energy usage of the world's existing financial transaction networks as a comparison. Those banks, security vans, and credit card servers don't run on fairy dust.
This is a naive extrapolation based on 'adoption' proportion, which fails simple scrutiny as it does not account for the scheduled reduction in coinbase rewards. Put another way, Bitcoin mining is currently subsidized to an enormous degree by massive inflation.
This doesn't even get into the weeds of scaling cryptocurrencies, the elasticity of txn demand (and supply, if not for the arbitrary 1MB cap), and all the factors that go into equilibrium mining prices.