PTSDwarriorIf I were to become in charge of a post-Trump USA, crypto would be outlawed and anyone who creates crypto will be either given the death penalty or a slow death in a cement box in El Salvador. Crypto is evil and has allowed the evil in this world to flourish. Anyone who is pro-crypto here, I will figure out who you are and you will be on my list for the future.
You can say the same about any technology advancement. The fire, wheel, black powder, electricity, radio, tv, internet, crypto, AI, etc. The problem doesn’t reside in the technology but in the people exploiting it for evil intentions.
Jesus christ it’s always the same excuses for the useless, planet-destroying grift that is bitcoin.
Guns don’t kill people, people kill people excuse.
“Bitcoin will be as useful as every other revolutionary technology as soon as we figure out a use for it that doesn’t already exist.”
- evangelists for over 15 years now.
And before somebody comes in and calls me a Luddite or whatever, I used to mine.
If bitcoin didn’t use 40 terawatts to mine and was more reasonable in its electricity demand then I don’t think that many people would care about it. It still wouldn’t make it useful but at least it wouldn’t be actively damaging the environment.
We might even be able to find a use for it at that point. But as it stands now the energy requirements essentially make the technology not worth it given the very minor benefits.
There are versions of cryptocurrencies that don’t use massive amounts of energy.
Pick anything launched from Ethereum onwards.
BTC is the second most traded by volume and comprises 60% of the market. Monero is pow. Doge is pow.
You are glossing over 40% of a $3T market.
I’m not going to defend PoW but blockchain technology had moved on even if the fanboys haven’t.
No I am not. The most popular crypto by a massive margin is consuming the vast majority of the power of all the crypto space. Until that’s resolved we cannot ethically even consider using this shit.
That’s as irrational as saying no-one can use EVs until we get rid of all ICE vehicles.
Not even remotely the same thing, But if you’re going to go down this path, notice how the transition to renewables has been blocked by…dependence on ICE/fossil fuels (more akin to PoW if we’re going to do this weird parallel) and by forces that profit off them.
Your dislike of PoW is totally understandable.
Bitcoin maxis who dismiss all other blockchains as Alts are very much like climate deniers. They illogically block improvements and efficiencies in the Bitcoin protocol (e.g. block size increases).
However if enery usage is your main criticism then attacking PoS is like campaigning against wind or solar. We want PoS to completely replace PoW.