[mlinsey]

I think in the scenario where miners block the move to PoS (or any other much-more-scalable technology) is a scenario where nobody ever actually uses crypto for anything, and almost all coins go to $0 after the speculative bubble pops. To be clear, I think that's certainly a possible world, maybe even the modal outcome.

The alternative world, where we're using crypto to pay for everything, and we're no longer logging into twitter, but instead using our keys to log into a client for a globally distributed twitter where we own all our data on a blockchain - that's impossible without not just Eth2 but a several orders of magnitude of improvements beyond that.

Basically, I think taking the current per-transaction carbon impacts, multiplying it by eg. Visa's transaction volume, and forecasting a world where crypto is burning 1,000X as much carbon as the whole transportation sector or whatever - is a fallacy. Crypto will either solve the scalability problem (and therefore consume a much more moderate amount of energy), or it won't be used at all.