| Bitcoin mining - madness 07:40 - May 23 with 8298 views | nodge_blue |
I’m getting really tired of the madness of this world. It’s draining all the stupid things we do.
https://www.bbc.co.uk/news/articles/cx2qg6e03l2o
Why invent a system that requires more and more power to create a bit coin. So much that power stations emitting large amount of noise disrupt people’s lives. Not to mention a contribution to climate change on the scale of Greece.
It’s pure madness and on top of it all who uses bitcoin anyway. It still has virtually no purpose other than a pyramid scheme to make people money. It’s immoral. I will admit I bought some in the past as an IT person who was interested in IT related things. But I think that was wrong now. And this article on the BBC is another enforcement of that view. Ban crypto.
[Post edited 23 May 7:41]
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| Bitcoin mining - madness on 19:12 - May 24 with 346 views | The_Flashing_Smile |
| Bitcoin mining - madness on 16:11 - May 24 by J2BLUE |
You could say that about a lot of things though. Power plants, prisons, eye sore warehouse buildings, noise pollution etc etc.
Nothing would ever get built if existing residents were always listened to. |
If something is built near where you already live that causes continual noise disturbance enough to impact the quality of your life, then yes I think that's wrong. This is not a controversial view, surely? |  |
| Trust the process. Trust Phil. |
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| Bitcoin mining - madness on 20:10 - May 24 with 272 views | NthQldITFC |
| Bitcoin mining - madness on 11:16 - May 24 by Yaffle |
Let's talk about mining gold...
Gold mining uses approximately 250 terawatt-hours of energy (twice that of BTC), emits well over 100 million tonnes of CO₂ (2.5x all of UK aviation), and still claims dozens (officially – the toll is much higher for the unofficial artisanal miners) of industrial lives every year, while millions of artisanal miners, including children, face toxic mercury and unsafe pits. All to mine a 'store of value', of which 50% goes on producing vanity trinkets and only 5% does anything useful (and is easily replaced or recycled).
The environmental impact is astonishing; it's an environmental catastrophe. It releases 1,200 tonnes of mercury a year into rivers and oceans, causes toxic cyanide spills that wipe out aquatic life, has stripped over 100,000 hectares of Amazon rainforest in Peru alone and creates acid mine drainage that poisons waterways for centuries, and when tailings dams collapse, they bury towns and kill hundreds of people.
All this for a global cultural obsession for something that is considered a symbol of status and wealth.
But some people in the US don't like the hum, so we have to ban BitCoin. Try living next to a gold mine! |
Thanks for some interesting info, but I'd say the one doesn't justify the other. |  |
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| Bitcoin mining - madness on 21:06 - May 24 with 236 views | J2BLUE |
| Bitcoin mining - madness on 19:12 - May 24 by The_Flashing_Smile |
If something is built near where you already live that causes continual noise disturbance enough to impact the quality of your life, then yes I think that's wrong. This is not a controversial view, surely? |
No it's an entirely fair point. I was just saying that lots of different things have an impact on your surroundings. If everything was rejected nothing would get built. |  |
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| Bitcoin mining - madness on 21:19 - May 24 with 214 views | The_Flashing_Smile |
| Bitcoin mining - madness on 21:06 - May 24 by J2BLUE |
No it's an entirely fair point. I was just saying that lots of different things have an impact on your surroundings. If everything was rejected nothing would get built. |
We're not talking about "everything" though. | |
| Trust the process. Trust Phil. |
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| Bitcoin mining - madness on 22:40 - May 24 with 165 views | nodge_blue |
| Bitcoin mining - madness on 12:57 - May 24 by Yaffle |
Design in Bitcoin is not efficient. Proof-of-work exists to maintain it decentralised and censorship-free. Waving a magic wand does not give you the robustness of a neutral, unhackable monetary network. The energy cost is not meaningless; it is the cost of freedom from institutional capture, state control, and centralised systems.
FIAT, gold or BTC, their collective belief gives them worth rather than 1s and 0s. Furthermore, technically it's not binary; it's not only "1s and 0s" any more than a website is "just electricity". That argument is not only reductive but also ignorant of the cryptographic, distributed, and consensus-critical structure providing Bitcoin's integrity and immutability. |
I have to keep reading that multiple times and translating into plain English.
Struggling.
So if making bitcoin creation complex is to make it beyond state control, then why were they easy to create on a home PC ten years ago.
Normal currencies have worth cos they are backed by governments and tax payers. As per the financial crisis debt was honoured by tax payers rather than let to collapse. The same isn’t true of bitcoin.
A website isn’t just electricity. It’s ones and zeros resolved. Not that I know where your point was going.
The reductive nature of my argument is exactly the point.You need to explain to me why making something harder to do gives it more integrity than if it had been left on the same complexity of ten years ago. | |
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