[user-the-name]

0.1% of all the power generated on the entire planet is being destroyed by bitcoin mining.

If that is not massive harm I do not know what is.

[Andrew_nenakhov]

Pffff, several orders of magnitude more energy is "destroyed" by dumb heating, because there is a lot of places where humans can't survive without warmth. It is only a matter of time when byproduct heat generated by mining will be used to heat water and homes.

[user-the-name]

There is a whole world of difference between heating homes across the planet, and running a network that can do 7 transactions a second.

A single home PC from 2004 could run the bitcoin network, but instead, it uses 0.1% of all the energy in the world.

It is by a wide margin the most ridiculously inefficient thing ever created. And it won't improve, because it is built that way by design.

[Andrew_nenakhov]

You are clearly missing the point of why it uses so much energy. It is the price of security, decentralisation and permissionlessness.

As for "7 transactions per second", sure, 7 on-chain transactions with the current block size. You don't need them for things like buying a cup of coffee. So this FUD is somewhat outdated.

[user-the-name]

Yeah, it's the price of that.

And that price is ridiculously, stupendously high. Much, much, much too high. It is in no way worth that price.

[Andrew_nenakhov]

Maybe, for you. Probably you're lucky to live in a country that doesn't abuse its financial system. But others pay this price gladly, because bitcoin provides clear and undisputable value for them.

[user-the-name]

Not for me. For the entire world. It is the entire planet that is paying the price. And the price is utterly overwhelmingly large, and you are forcing them to pay this price while getting nothing in return.