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Just 137 crypto miners use 2.3% of total U.S. power — government now requiring commercial miners to report energy consumption (www.tomshardware.com)

submitted 9 months ago by misk@sopuli.xyz to c/technology@lemmy.world

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[–] wizardbeard@lemmy.dbzer0.com 3 points 9 months ago

It's more that it was originally a theoretical white paper meant to present a potential solution for a very specific problem space. Energy use wasn't a consideration in the design, because that wasn't part of what it was meant to address. Likewise, anonymity in the sense of hiding transactions wasn't part of the design either, besides avoiding centralized banking's requirement that every "wallet" is associated with a government ID.

It was a fun toy meant as a proof of concept solution to centralized banking.

Eventually market speculators saw what the nerds were getting up to, got some ideas, and everything freaking exploded. It wasn't meant to drive speculative markets.