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It's not crypto but have yall heard about NBA Top Shot? It's like a blockchain-based digital trading card of NBA highlights. Really weird and interesting use of the technology. You buy packs for anywhere from 9 to 230 bucks and the plays are auto-generated after a day's action. Something like that. Then there's a resale market. Some of these cards have sold for 100k dollars. Some people have too much money.
I find the whole thing a little silly but people are also paying 50k for bitcoin and that doesn't even come with a basketball gif.
You're killing the planet to make a buck, hope you're proud of yourselves
Are you talking about the very small percentage of miners? Usage of most coins should have an almost zero footprint. I mean Im sure printing money has an almost identical footprint
You're killing the planet to make a buck, hope you're proud of yourselves
Are you talking about the very small percentage of miners? Usage of most coins should have an almost zero footprint. I mean Im sure printing money has an almost identical footprint
"Very small percentage of miners" is a weird way to frame a group of people who are wasting the equivalent energy output of the 30th largest country on earth, in the middle of a climate crisis, in order to sell their number-guessing tokens to people like you
Are you talking about the very small percentage of miners? Usage of most coins should have an almost zero footprint. I mean Im sure printing money has an almost identical footprint
"Very small percentage of miners" is a weird way to frame a group of people who are wasting the equivalent energy output of the 30th largest country on earth, in the middle of a climate crisis, in order to sell their number-guessing tokens to people like you
I would be very curious to see how much of energy is used to produce a years amount of credit cards, or a year supply of coins, or a year supply of cash- all made from either recycled materials, or straight up taken from the Earth. Im sure mining those resources just for one coin causes tons of pollution- multiplied by all the countries in the world doing the same thing over and over and over. What about the emissions from credit card factories? What about emissions from the federal reserve of our country alone? How much gas did you spend to deposit that PAPER check at the bank?
Post by Silver Surfer on Feb 28, 2021 12:21:32 GMT -5
Mining isnt sustainable, sure. But neither is paper currency or plastic cards. At the very least- mining will end when the supply is completely mined. Money will continue being printed regardless of environmental impact
"Very small percentage of miners" is a weird way to frame a group of people who are wasting the equivalent energy output of the 30th largest country on earth, in the middle of a climate crisis, in order to sell their number-guessing tokens to people like you
I would be very curious to see how much of energy is used to produce a years amount of credit cards, or a year supply of coins, or a year supply of cash- all made from either recycled materials, or straight up taken from the Earth. Im sure mining those resources just for one coin causes tons of pollution- multiplied by all the countries in the world doing the same thing over and over and over. What about the emissions from credit card factories? What about emissions from the federal reserve of our country alone? How much gas did you spend to deposit that PAPER check at the bank?
Let’s run the numbers. CapGemini and BNP Paribas’ World Payments Report 2017 shows 433.1 billion non-cash payments worldwide in 2015, and a projected 726 billion in 2020.
Let’s be generous and assume there will only be as many transactions in 2018 as there were in 2015, and Bitcoin transactions will only use 300kWh each, as they do now. If the existing financial system used as much power as Bitcoin, then just the non-cash payments would use 4.331×1011 transactions, times 3×105 watt-hours per transaction — which gives 1.3×1017 watt-hours, or 133 petawatt-hours.
The worldwide production of energy — all kinds of human-harnessed energy, not just electricity — in 2015 was 169.5 petawatt-hours. It’s frankly implausible that, even if you take literally the whole financial industry and everything it does everywhere, it would come anywhere near that number — unless you stretch the comparison until you equate “the financial system” and “civilisation.” Just electricity worldwide in 2015 was 15.1 petawatt-hours, by the way.
The average energy consumption for one single Bitcoin transaction in 2020 was 741 kilowatt-hours. This was significantly more compared to the cumulative 100,000 VISA transactions with only an energy consumption of 149 kilowatt-hours. Bitcoin is more energy intensive per single transaction than 100,000 VISA transactions.
The average energy consumption for one single Bitcoin transaction in 2020 was 741 kilowatt-hours. This was significantly more compared to the cumulative 100,000 VISA transactions with only an energy consumption of 149 kilowatt-hours. Bitcoin is more energy intensive per single transaction than 100,000 VISA transactions.
Right, which is why Bitcoin isnt a payment tool. If you want to use a crypto for payment people use Monero, Stellar, Nano, or other low to nonexistent transaction fees. And im talking about the emissions from the VISA factories as well
The average energy consumption for one single Bitcoin transaction in 2020 was 741 kilowatt-hours. This was significantly more compared to the cumulative 100,000 VISA transactions with only an energy consumption of 149 kilowatt-hours. Bitcoin is more energy intensive per single transaction than 100,000 VISA transactions.
Right, which is why Bitcoin isnt a payment tool. If you want to use a crypto for payment people use Monero, Stellar, Nano, or other low to nonexistent transaction fees. And im talking about the emissions from the VISA factories as well
And yet bitcoin still is by far the biggest cryptocurrency, will continue to be so because of irrational idiots trying to get rich, and will continue to increase in wasted energy. The existence of better options does not matter in the slightest as long as that is the case
Post by Silver Surfer on Feb 28, 2021 12:29:45 GMT -5
Hell even if you completely try to use your phone for Apple Pay or whatever then you still have to consider what it cost to produce that iPhone and charge that iphone every night
Post numbers. I highly doubt the resources required to print a bunch of cards comes anywhere near the entire energy output of Argentina, but if you want to convince me, prove it.
"Other things use energy too" is not a credible argument to waste a large country's worth of electricity on Guess The Number
Many of those other things actually provide some sort of utility!
Crypto is about much more than "Guess the Number" and many (I mean many) coins have much more utility than paper currency. Your $1 bill cant write, sign, and get committee approval of a contract in less than a second. Your credit card cant scale to an unlimited amount of dollar value and produce ZERO transaction fees. And your paper check can't bank entire countries with zero labor, initial cost, or predation.
Post by Silver Surfer on Feb 28, 2021 12:46:36 GMT -5
I get that your frustration is just with BTC but you can't say all crypto is bad for the environment when some coins have the capability to quite literally change the world a 1000 times over
And yet bitcoin still is by far the biggest cryptocurrency, will continue to be so because of irrational idiots trying to get rich, and will continue to increase in wasted energy. The existence of better options does not matter in the slightest as long as that is the case
And yet bitcoin still is by far the biggest cryptocurrency, will continue to be so because of irrational idiots trying to get rich, and will continue to increase in wasted energy. The existence of better options does not matter in the slightest as long as that is the case
So instead of saying "You're killing the planet to make a quick buck, hope you're proud of yourself" You say "BTC miners are killing the planet to make a quick buck"
Because then I could agree with you and we could move on with our day
So instead of saying "You're killing the planet to make a quick buck, hope you're proud of yourself" You say "BTC miners are killing the planet to make a quick buck"
Because then I could agree with you and we could move on with our day
They wouldn't be able to make that buck if you weren't lining up to hand it to them
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