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by PragmaticPulp
1895 days ago
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Two wrongs don't make a right. Yes, unnecessary energy waste of other devices is bad and should be reduced. Fortunately, we're making strides to reduce electronics inefficiency all of the time. Proof-of-work cryptocurrencies are uniquely bad because they become less efficient with each additional miner. The maximum number of Bitcoin transactions was the same a decade ago as it is now, but the energy consumption is many orders of magnitude higher and continues to increase. When someone adds an additional server to a server rack or buys a new laptop, we also get a net increase in value. The new technology is likely to be more efficient, so we get a net increase in efficiency. Proof-of-work is the only technology that gets worse and worse over time, and literally pays people to continue making it worse. |
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