Quote:
Originally Posted by Wayne 962
Sorry, I get that you're a big fan of Bitcoin, but using more energy to mine Bitcoin than the entire country of Argentina is simply a colossal waste. In the end, it doesn't matter if it uses green energy or not, because it will be taking green energy away from other uses. The article details, old, obsolete coal plants being brought back online to mine Bitcoin. I certainly wouldn't believe or trust *anything* that Jack Dorsey says for one thing.
https://fortune.com/2021/04/20/bitcoin-mining-coal-china-environment-pollution/ |
It's only a waste to YOU. We are US citizens, on a classic car forum at that, to the majority of the world most of what we do is a waste. Gaming still consumes as much energy as bitcoin, but I haven't seen 50 articles comparing computer gaming energy to Switzerland or Argentina lol.
I think this is the current system doing everything it can to slow down a threat. If there is value to someone then it is not a waste to them, you happen to be in the controlling majority on your consumption, so you don't see it as waste. You don't see the stock market as waste, or the banking system as waste, but someone somewhere does. Probably many millions if not billions of people. Does anyone care how much energy is consumed to make the stock market work? Has anyone even cared enough to ever compute it? Is there a figure out there that has a net energy use of bitcoin market that would otherwise be used in the traditional system, most of which would probably be gold holdings?
I accept that energy will be spent on financial systems, and I happen to think bitcoin is worth the energy, and probably the better system, and hopefully it gets greener, but how green is the current system? How green would BTC need to be to be acceptable? Seems your response would be it will never been acceptable, as its always taking energy from something else. Obviously your mind is made up, so I'll just have to let it go. But as long as people find value in it it's never going away.