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Every $1 of Bitcoin value responsible for $0.49 in health and climate damages in US
(www.sciencedirect.com)
wow. Bitcoin really isn't worth it
this post was submitted on 04 Mar 2021
37 points (91.1% liked)
Technology
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Yeah at best it can be used to speculate, just with gold etc.
But that's really the most use for it...
That reminds me of this picture. The insane amounts of energy required for mining is a problem that we need to tackle. Bitcoin is still the gold standard, but it's time to move on to other, greener coins.
Just don't ask me which ones, I'm still figuring that one out.
Not that you are wrong about the crazy amounts of energy required for mining, but I don't think that picture is a good example. I recall seeing it in the news, and it is from a cannabis grow operation in the Netherlands: https://www.independent.co.uk/news/world/europe/melting-snow-being-used-police-find-cannabis-farms-netherlands-10036057.html
Uh, whoops. Guess I should've done a reverse image search.
They're called labour vouchers.
removed kid, start read about crypto.
i did some math on the damage per person. it comes out to $20 per user, per month, for 2021 if all US users held an equal amount.
edit: when i did the calculation, i multiplied the damage x6. because price is 6x as high as it was for the study. the more the price goes up, the more incentive to mine. but i don't think the damage jumps up by 6 instantly. recent news articles indicate that big miners expanded by x2 or x3. not x6.
it could grow later. ..or not.
FUD