[1ris]

>Bitcoin is very effective environmental activism.

While using the per-design resource destroying, planet burning Proof-Of-Waste? Are you Kidding?

And no, deflation does not encourage more long term investments, it does simply encourage hoarding, not exactly a desirable thing, form any perspective. And of course it is the fatal (and likely never fixed) flaw in bitcoin-as-a-currency.

[Jach]

I find the GP's comment tenuous but I also find the environment-damaging rhetoric you and a sibling (and thousands of others) give on proof of work even more so. If you want to bite the bullet and say people shouldn't be able to pay for energy and do with it what they want, fine, but otherwise, price out the actual energy costs, and realize the purpose of such costs: security. Bank of America alone spends $1bn/yr on cybersecurity, bitcoin mining costs the world about ten times that. It's not that unreasonable. Another comparison is it's about 1/8th the US spending on cigarettes.

[Capira]

Bitcoin being deflationary helps us move away from the mentality of a throw-away society.

You can use the Lightning Network to use Bitcoin as a currency. It's almost instant and free.

[1ris]

> Bitcoin being deflationary helps us move away from the mentality of a throw-away society.

No, it does not. How could it? It does nothing but encourage hoarding. Not only that, but also a economy where everything is more scare tomorrow than today, is a economy in perpetual decline.

>You can use the Lightning Network to use Bitcoin as a currency. It's almost instant and free.

That does not side step the proof-of-waste on the main chain. This is a completely unrelated debate.

[Capira]

> everything is more scarce tomorrow than today No, in terms of Bitcoin everything is cheaper tomorrow than today. That's the opposite of more scarce.

Bitcoin mining accelerates the transition to renewables. https://www.whatbitcoindid.com/podcast/can-bitcoin-mining-sa...

[1ris]

No it doesn't. And you are moving goalposts. But still, it's a obvious and transparent lie. It wastes electricity that could have been put to good use, like power2(gas|ammonia|syngas|heat|cooling) or just normal, dispatchable consumption in a Wide area synchronous grid, a thing that exists pretty much everywhere where electricity generation is a thing.

And bitcoin does not use electricity, it just flat out wastes it. And that's not because bitcoin in itself is useless (it is), but due to the design of the Proof-of-Waste. Electricity use implies that electricity is converted into something. Every iPhone uses X Wh. If you dail up the usage, the output increases. It's not perfectly linear, but that's a reasonable approximation. Bitcoin is different: More electricity will never produce a better service, more bitcoins or whatever. Bitcoin will not ever get better by using more. And yet it is designed to waste a amount of electricity proportional to it's price. Oh, and it is only profitable to mine if you use a below-average electricity price. E.g. use the laxes regulations, the most polluting or the most illegal sources of electricity.