this post was submitted on 09 Feb 2024
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Misleading title - the problem is not "crypto", it's pretty much all Bitcoin and the people against the change in the consensus mechanism. Out of the top ~~10~~ 9 coins in market cap, Bitcoin is the only one using proof of work, which demands such high energy requirements.
No, this is actually exactly the fucking problem
I have some bad news for you about the environmental effects of burning lots of oil
They're a crypto bro. They probably think they'll live on a swimming libertarian island by then.
As long as there's enough for your remaining lifetime that's fine. We don't have to worry about anyone else's lifetime after that.
I think you're telling on yourself
You mean proof of work? And I disagree, Ethereum moved from PoW to PoS and gained market cap since then. The high costs are just a consequence of the consensus mechanism in use.
bitcoin has got to be invented by an alien or something so that we would terraform for them...
Probably just a fool thinking free fusion energy was just around the corner
It's more that it was originally a theoretical white paper meant to present a potential solution for a very specific problem space. Energy use wasn't a consideration in the design, because that wasn't part of what it was meant to address. Likewise, anonymity in the sense of hiding transactions wasn't part of the design either, besides avoiding centralized banking's requirement that every "wallet" is associated with a government ID.
It was a fun toy meant as a proof of concept solution to centralized banking.
Eventually market speculators saw what the nerds were getting up to, got some ideas, and everything freaking exploded. It wasn't meant to drive speculative markets.