/biz/ - Business & Finance

[Anonymous No.13676469]

The problem with bitcoin is that, by design, validating transactions and “mining” new currency use enormous amounts of energy pumped into supercomputing centres to solve very difficult but totally meaningless maths problems. Currently the maintenance of bitcoin worldwide has a bigger carbon footprint than the whole of Switzerland. As presently constituted, it thus has a hard thermodynamic limit to its usefulness, as well as being a significant contributor to global warming.

To successful gamblers, bitcoin has been a gravy train; to many others, it is looking more and more like a spectacular misallocation of global resources.

>Prove this wrong. Protip: you can't

[Anonymous No.13676482]

you're right. just sold 100k bitcoin

[Anonymous No.13676485]

This is a real concern. Whether you subscribe to man climate change is irrelevant, the fact that countries and businesses are starting to drastically shift to climate friendly solutions and practices, coupled with mass media shunning and shaming others who do not, paints a target on bitcoin's back.

[Anonymous No.13676487]

[Anonymous No.13676489]

>>13676469
i can’t

[Anonymous No.13676513]

>>13676487
Litterally PAJEETS

[Anonymous No.13676536]

>>13676469
This FUD has already been debunked multiple times.

And that pic makes my blood boil. I hope that douche dies of something slow and painful.

[Anonymous No.13676551]

>>13676485
Climate change will be solved with scientific advancement. It's a non-issue.

[Anonymous No.13676577]

>>13676551
Climate change can be solved by sending pajeets, chinks and niggers on another planet

[Anonymous No.13676668]

how about you green fags set up some solar panels in the fucking desert where they provide basically free energy instead of setting them up in northern europe. also easy to spot normie threads disgust me.

[Anonymous No.13676684]

>>13676469
yes, the answer is PoS.

[Anonymous No.13676772]

>>13676684
Ironically ethereums's POS has a POW element to generate random numbers. It's a lot less impactful than real mining but it makes me feel that POW in some shape or form simply can't be avoided.

[Anonymous No.13676784]

>>13676772
if you're talking about vdf it's only optional and is really proof of sequential computation (one) which has negligible energy usage

[Anonymous No.13676863]

>>13676784
Yeah I am, I know that right now they think it'll be negligible, and I hope so. It's not really optional, the network can't function without them, I get that a staker doesn't have to run a vdf node but it's probably out of convenience to not force people to buy their shitty vdf asics. In the end everyone will since you get paid less if you don't run one.

[Anonymous No.13676886]

>>13676863
it's negligible by definition because there's only one deterministic sequential operation computed from previous seed. PoW is wasteful because you have to try billions of different nonces in parallel

[Anonymous No.13676903]

Fuck off boomer. This is a nonissue. In fact the more energy that goes into mining bitcoin the better since it makes the network more secure. That's not meaningless. This is a network that transfers billions of dollars in value every day and it should be as secure as possible.

[Anonymous No.13676980]

Nobody should care about carbon footprint. In the future we will look back and realize 2019 humans ere retarded for caring. Also op is a faggot

[Anonymous No.13677024]

>>13676469
Our society is probably doomed if we can't master sustainable energy in some form. If we do the energy cost of bitcoin won't matter much, and if we don't it also won't matter

[Anonymous No.13677027]

bitcoin is flawed but your understanding of the situation is even worse
if one starts from the premise whoever controls the money supply controld the world, then all our problems, and this includes 100% of the pollution, come from current units of account. bitcoin is better by virtue of pow producing less than 100% of the pollution
even if you don't follow the above premise, it's critical to understand bitcoin supporters do. so you will never sway anyone with the carbon footprint angle, because the people you're trying to convince believe you're shortsighted and fail to realise bitcoin saves energy in the long run

[Anonymous No.13677480]

The whole "Climate change" meme is retarded. They went away from muh global warming and instead focused on the way more diffuse "climate change" meme because it is something nobody can deny because the climate does in fact change constantly. The four seasons for instance = climate change. That the night is cooler than daytime = climate change.

I hate climateniggers.

[Anonymous No.13677516]

If people actually cared about green energy we would hundreds more nuclear plants than we currently have. Carbon dioxide just sounds like a really exotic and hard to pronounce science word, so of course it is a bad thing. What good has chemistry ever done for the human race? It is almost too easy pandering to libtard anti science types. Follow the money if you want to know why they do it.

[Anonymous No.13677565]

>>13676485
Climate change is fucking bullshit, and bitcoin mining is a tiny fraction of all the energy put into actual banking.

[Anonymous No.13677574]

>>13677516
Growing up, I remember being taught that if we don't stop CO2 the Earth will become Venus.

It's basically a religion to these people, a way to salve their souls and proclaim their virtue to non-believers.

[Anonymous No.13677646]

Aren't most bitcoin miners Chinese?

[Anonymous No.13677724]

>>13676469
Compare this to the energy use by ever banking institution in the world.

[Anonymous No.13677762]

>>13676469
>due to ever more efficient mining rigs it's less, probably on a level of a major city, still significant though
>environmental impact of the current worldwide banking systems is orders of magnitude greater anyway
>energy that goes into "meaningless math problems" is needed to keep the blockchain secure
>alternative solutions po PoW are being developed

>>13676551
>>13676903
>>13677480
>>13676980
>>13677565
Geez /biz/, you don't have to go full retard either.

[Anonymous No.13677786]

>>13676469
You're 100% correct.

That's why we are currently building a new BTC/ETH replacement that requires trivial amounts of energy to function by design.

https://cardanodocs.com/cardano/proof-of-stake/

[Anonymous No.13677957]

it's the cost of security. it uses a lot less energy than the legacy financial system. it's also entirely voluntary

[Anonymous No.13678294]

thats not how any of this works.
bitcoin can run on a single 8bit microprocessor that costs $2 and consumes 0.5W of power. in the early days of bitcoin people were mining with rpi's and transaction volume doesnt really have anything to do with it.

[Anonymous No.13678467]

Let the underclass grovelers in the slum cities worry about muh environment while we conquer the universe, powered by blockchain.

[Anonymous No.13678610]

>>13676469
i just can't believe someone would drive that truck and think "this is fine"

[Anonymous No.13679278]

>>13676469
>cost of all bank infrastructure in the world.

Gtfo

[Anonymous No.13679319]

>>13676469
>the carbon footprint of your fucking chink smartphone, tv, pc component, car and your meaningless life

[Anonymous No.13679570]

>>13676469
How is that a problem?

[Anonymous No.13679594]

because fiat currency is zero impact

[Anonymous No.13679702]

>>13676469
t. Retard

[Anonymous No.13679734]

>>13676469
thats not really the problem, the problem is it'll take hundreds of megawatts and millions in investment to mine what a single pajeet mined on his laptop on the early years, which is very ponzi like and stupid

[Anonymous No.13679749]

>>13676469
Here, let me prove you wrong. Protip: I can.

[Anonymous No.13680171]

>>13676469
once we remove the NWO we will have free energy

[Anonymous No.13680213]

>>13676487
>poos, insectoids, sandniggers and niggers are responsible for 95% of garbage in the world
huh really makes you think

[Anonymous No.13680243]

>>13676482
based

[Anonymous No.13680313]

>>13679749
>Bitcoin has never been used for money laundering, fraud, or black markets
yeah ok
all this proves is excel is easy to use