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I don't have an issue with crypto currency as a thing/entity to trade. I do believe that for the most part you should be able to trade in goods of your choice. Its just that its so wasteful in the way it does it.
Hard Drive and SSD Shortages Could Be Imminent If New Cryptocurrency Blooms
- Thread starter JohnG7
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I have a big problem with Crypto currencies other than generating mountains of e-waste and scarcity of hardware. Its the power use, Bitcoin uses more than Argentina at 121.36 terawatt-hours (TWh), Ethereum uses as much as New Zealand at 41.28 TWh!!!
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Given how much more useful they've been than cryptocurrency, that's not really a worthwhile question. Society does have a problem with people doing effectively busywork around currency and siphoning off 'value' for themselves - having deliberately anti-efficient cryptocurrencies added to the mix is not helping.
I'm just curious, there was no hidden agenda there, no need for you to look for one.
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It sounds a lot like the usual apologetics, that's all. Such questions are not very often genuine.
Sadly it's true that that's the world we live in where you seem to have to state you're being genuine/serious/non-ironic.
Ironic that your avatar tag is 'wise guy' then
That's how Ponzi schemes work.
Except traditionally those have been less harmfull for environment...
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Not exactly, Ponzi schemes always have the new investors become beneficiaries which send money to the original investors, who become benefactors. Whether they are buying products from the them or hiring them, ultimatly all Ponzi schemes involve a direct flow of money from the new investors to the old investors.
When mining Crypto that never happens, at least not between miners. You could argue the speculative bubble generated from the increased exposure results in a similar effect, but still doesn't change the underlying fact of the matter.
I find it unbelievable that in a time when we all now know that we are in trouble with Global Warming that we are stupid enough to invent a money system that uses vast amounts of power. It is beyond belief that mankind is so damn stupid. It is also beyond belief that the governments of the world largely sit by and do nothing.
I don't care how we stop this energy usage. We can centralise the accounts processing ( in other words create a bank of bitcoin, etc ) or we can just make mining it illegal, but one way or another these currencies need to be stopped. It is utterly shameful the amount of energy they waste in a time when we are all being told to use less.
I would never want the government to look too closely at pc energy usage... we're incredibly wasteful with how much we use for the sake of playing a game / looking at the internet, it's just considered a 'norm' nowadays. It's the same as those that drive 4x4's to move around in, when a tiny car/single-mo-bile would do (or heck, feet/bicycle!)
On topic - the time-to-earn a coin per TiB went to a year a day or two ago. Fun times.
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Have you seen the SSD failure rates coming in now as Chai destroys bad write volume nand?
Going to either see shorter warranties for drives or higher prices...
Already do, called Enterprise Drives and cost a fortune as the higher end use SLC so will also be smaller.
The Difference Between Enterprise & Client SSD - Kingston Technology
The Difference Between Enterprise & Client SSD - Kingston Technology