[infamouscow]

Because if Bitcoin specifically takes off it will force governments to balanced budgets, exposing a lot of hidden corruption. Detractors cherry-pick concerns about energy usage, but never show the energy usage of the existing system for comparison.

[quaunaut]

Are you for real?

Crypto right now, while being used by under 1% of population use, uses 40% of the energy of the global banking system[1].

In other words, if it were to increase to even 10% of the population using it, it would use over 4x the energy of the global banking system. If that increased to 50%, it would be 20x.

This would be somewhat mitigated in the case of Proof of Stake, but would simultaneously give major players in the market complete control of said market. Y'know, like a government.

1. Research report from Galaxy Digital, a decidedly pro-crypto source, page 8: https://docsend.com/view/adwmdeeyfvqwecj2

[infamouscow]

That report says the data used for the banking system is derived from a computer model because they lack sufficient empirical evidence.

[tehnub]

You’re suggesting that these HN readers are criticizing crypto because they’re trying to keep government corruption under the rug?

[unfocussed_mike]

I really never know how to read comments like this anymore.

Are you serious? Are you joking?