Dude it wasn’t from a reasonable place if you immediately swing to screaming about masters like a delicate snowflake because people don’t like your MLM.
The conversation is about bonfire of resources this speculative “free” asset uses and you weren’t asking in earnest you just wanted a win that your blaze wasn’t the the only one.
I never liked this kind of argument, because if bitcoin ever becomes truly mainstream, the similar ecosystem will grow around it in addition to the mining itself.
We really should focus on the renewable energy sources rather than argue who burns how much and for what reason. There’s a price mechanism (albeit flawed) for that.
No. If a crypto were adopted at that scale, it wouldn’t be proof-of-work, so there would be no “miners” and (comparatively) no energy consumption whatsoever.
If what you said was true, Bitcoin would already have given its place to any of the proof of stake coins.
But it hasn’t because it won’t. Crypto people only care about becoming rich, so to them the technology behind doesn’t matter. And there is much more money to make using Bitcoin than the rest.
Yes. Legacy banking systems use way more than at least Bitcoin.
“Bitcoin’s emission intensity, a measure of emissions per unit of power, is now its lowest ever, dropping 18x faster than the banking sector over 4 years.”
Lol. Fucking batcoinz? That’s the source? Also love that you have to pay to read this random guys musings about bitcoin. The way to make money in Bitcoin is still mostly selling others on Bitcoin.
LOL I understand it just fine. I have made some money on it too.
Still a pyramid scheme. But so engrained that I’m not sure it will ever truly die because someone else will be along to swear it’s worth it cause of how much time, effort, money, and the energy of a small nation that was put into it.
But oh man “uhh Bitcoin isn’t like all the other crypto which is worthless scams” lol
The link isn’t the sources but merely a conduit for the cited information. Also, you don’t have to pay to read it. Clearly you didn’t see the “continue reading” link to get passed the popup.
Does anyone know how much energy the banking system uses?
Edit: lol so much downvote for a reasonable question? Enjoy your inflation and your money being sent overseas by your masters squares
https://www.youtube.com/live/1jOUnFH-Ins?si=DNiscpajsDoUmbvd
A fraction of what it takes for thousands of machines to perform rework of the same problem.
This isn’t the good argument you think it is.
Bitcoin miners aren’t doing re work, they mine the next block of thousands of transactions.
There’s also the other side of the conversation that over 51% of the network uses green energy.
Here is an alternative Piped link(s):
This isn’t the good argument you think it is.
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I’m open-source; check me out at GitHub.
NFTs aren’t bitcoin lmao. Nice try though.
Damn, if you’d actually watched the video you’d know he spends about 40 minutes covering the issues with crypto as it’s crucial to understanding NFTs.
Nice try, though.
deleted by creator
Dude it wasn’t from a reasonable place if you immediately swing to screaming about masters like a delicate snowflake because people don’t like your MLM.
The conversation is about bonfire of resources this speculative “free” asset uses and you weren’t asking in earnest you just wanted a win that your blaze wasn’t the the only one.
I never liked this kind of argument, because if bitcoin ever becomes truly mainstream, the similar ecosystem will grow around it in addition to the mining itself.
We really should focus on the renewable energy sources rather than argue who burns how much and for what reason. There’s a price mechanism (albeit flawed) for that.
No. If a crypto were adopted at that scale, it wouldn’t be proof-of-work, so there would be no “miners” and (comparatively) no energy consumption whatsoever.
If what you said was true, Bitcoin would already have given its place to any of the proof of stake coins.
But it hasn’t because it won’t. Crypto people only care about becoming rich, so to them the technology behind doesn’t matter. And there is much more money to make using Bitcoin than the rest.
The amount of energy the banking system uses is linear.
The amount of energy crypto uses is exponential.
It really isn’t the argument you think it is.
Yes. Legacy banking systems use way more than at least Bitcoin.
“Bitcoin’s emission intensity, a measure of emissions per unit of power, is now its lowest ever, dropping 18x faster than the banking sector over 4 years.”
https://www.batcoinz.com/p/issue-001-the-narrative-is-shifting
Lol. Fucking batcoinz? That’s the source? Also love that you have to pay to read this random guys musings about bitcoin. The way to make money in Bitcoin is still mostly selling others on Bitcoin.
What a slow burn of a pyramid scheme.
I encourage you to read more. If you’re using lemmy then you should already understand the core concept of bitcoin (not crypto/shitcoins)
LOL I understand it just fine. I have made some money on it too.
Still a pyramid scheme. But so engrained that I’m not sure it will ever truly die because someone else will be along to swear it’s worth it cause of how much time, effort, money, and the energy of a small nation that was put into it.
But oh man “uhh Bitcoin isn’t like all the other crypto which is worthless scams” lol
Could you explain how it’s a pyramid scheme? General curious as no one owns it
The link isn’t the sources but merely a conduit for the cited information. Also, you don’t have to pay to read it. Clearly you didn’t see the “continue reading” link to get passed the popup.