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.
Wait but that’s like saying that as long as the world has at least one electric car the internal combustion engine can continue to exist without issue.
If the vast majority of cryptocurrencies are still power hungry and the most commonly used cryptocurrency is power hungry then the fact that some of the others are better doesn’t really help.
that’s like saying that as long as the world has at least one electric car the internal combustion engine can continue to exist without issue.
No. PoS (EV makers) are not supporting the existence of PoW (ICE vehicles). In fact, one builder made a deliberate planned move from PoW to PoS. All new builders are PoS.
the vast majority of cryptocurrencies are still power hungry
False. Remove Bitcoin (>100TWh) and the only PoW coin in the top 10 is DOGE (~4TWh).
No but they’re supporting the existence of personal cars which are a blight at this point.
The analogy doesn’t stretch to allowing fiat to be compared to public transport.
A medium that is decimated when Trump shouts “Tariff” is not the gold standard.
Fiat is only the gold standard when it is backed by actual gold.
Your analogy was already sloppy to begin with, I’m not sure I’m really going to buy into your applying it or saying it doesn’t apply only when it suits your argument
Dude, you brought the slop.
Saying PoS is supporting PoW is like saying EVs support ICEs.
Would you like another go at explaining how your half baked public transport analogy fits into this?
I encourage you to reread the thread. I did not introduce the ICE engine analogy.
You said “we need more public transport”. How does that statement map to Bitcoin?
Dude it was expanding on the analogy you fucking introduced.
What is the matching side of your analogy expansion?
PoW is to PoS
As
ICE is to EVs
As
Public transport is to ???
dude for fuck’s sake do you really not see the connection between discussing cars and public transportation, especially when we are talking about efficiency?
You have also completely moved the goal post. The first comment talking about cars/ICE engines/transportation means in general started with you. You created this bullshit analogy. I am tired of talking about this. Move the fuck on.
do you really not see the connection between discussing cars and public transportation,
That side of the analogy is fine. How is public transport relevant to Bitcoin, Proof of Work and Proof of Stake?
What is the equivalent cryptocurrency concept that public transport is supposed to represent?