this post was submitted on 23 Jan 2021
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Privacy
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Bitcoin alone draws more electricity than the whole of Netherlands now. It's network is basically a crime against humanity at this point. And I say this as someone with a (small, tiny even) stake in it.
It's negated all gains made by renewable energy, and for what. A "currency" that is even more centralized in the hands of few people than fiat money is.
Last time there were research it was driven by 70% of renewable energy. More than most industries.
It actually increases investment into renewable energy by making it more profitable to produce renewable energy.
Exactly my point. Wasting renewable resources on cryptomining is a crime against humanity.
You dont get it.
Much of the energy used would be thrown away wasted. The mining use that energy that otherwise would just be overproduced and thrown away and convert it into coins, thus making production of renewable energy much more profitable than it would otherwise be and thus accelerating the expansion of renewable energy.
Thus it is not a crime, it actually helps motivating building more renewable energy.