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by npoc 893 days ago
The main problem here is that you're looking at the energy use as a waste. It's absolutely not, but in order to understand why, you need to understand what's wrong with the current monetary system and the terrible effects it is having on the world.

You're also missing that bitcoin's game theory means that it will ultimately only use unwanted/wasted energy. Bitcoin miners can mine anywhere in the world and those trying to use energy that's in demand by the general population won't be economical.
2 comments
guappa 893 days ago
> The main problem here is that you're looking at the energy use as a waste. It's absolutely not

It is. Mining is literally bruteforcing…

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npoc 893 days ago
It's an abstraction of work. All sound money requires equivalent value work to produce. And the work done is stored as protective "walls" in the blockchain, one on top of each block, piled higher and higher as time goes on, to become impenetrable. It's quite beautiful.
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guappa 893 days ago
It's literally doing busywork just to assign a value to the mining. It's beautiful if you're a business major who has no regard to real world.
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npoc 893 days ago
What do think happens if you let people create money without doing the equivalent work?
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guappa 893 days ago
Why do we let people create money where the work is "waste energy" instead of create money where the work is "build something we need"?
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npoc 892 days ago
Because then you are monetizing the work in other ways and so you still end up creating the money for free.
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smoldesu 893 days ago
You waste less energy? Ethereum seemed to figure this out despite being entirely dysfunctional.
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guappa 889 days ago
For him, wasting energy is the entire point that assigns value to the tokens… Does it make sense? No, of course not.
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smoldesu 893 days ago
> but in order to understand why, you need to understand what's wrong with the current monetary system and the terrible effects it is having on the world.

Are we about to find out why, or do I have to pay for your memoir to understand? I've been dying to hear you expand on this for a while now.

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olalonde 893 days ago
https://wtfhappenedin1971.com/ is a good starting point.
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