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Bitcoin miners win legal battle to keep mum about energy use [US] (www.theverge.com)

submitted 8 months ago by misk@sopuli.xyz to c/technology@lemmy.world

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[–] deafboy@lemmy.world 2 points 8 months ago (2 children)

I never liked this kind of argument, because if bitcoin ever becomes truly mainstream, the similar ecosystem will grow around it in addition to the mining itself.

We really should focus on the renewable energy sources rather than argue who burns how much and for what reason. There's a price mechanism (albeit flawed) for that.

[–] O_i@lemmy.world 1 points 8 months ago

I totally understand, I’m tired of having the conversation as well. In the video I posted earlier it sheds light on how renewable energy companies can be incentivised to add mining bitcoin to their process. Has a lot to do with modern tech and how energy is used/distributed.

Example of a mining company working with the Navajo nation in the US adding solar panels.

https://finance.yahoo.com/news/bitcoin-mining-in-navajo-land-yields-jobs-revenues-while-revealing-economic-disparity-195141438.html

[–] prole@sh.itjust.works 0 points 8 months ago* (last edited 8 months ago) (2 children)

No. If a crypto were adopted at that scale, it wouldn't be proof-of-work, so there would be no "miners" and (comparatively) no energy consumption whatsoever.

[–] deafboy@lemmy.world 1 points 8 months ago* (last edited 8 months ago)

There is no clear advantage of proof of stake cryptocurrencies compared to blockchain-less centralized databases. IMHO It's either Bitcoin, or PayPal 2.0

edit: But since people tend to be weird, maybe no advantage is needed...

[–] Honytawk@lemmy.zip 0 points 8 months ago

If what you said was true, Bitcoin would already have given its place to any of the proof of stake coins.

But it hasn't because it won't. Crypto people only care about becoming rich, so to them the technology behind doesn't matter. And there is much more money to make using Bitcoin than the rest.