this post was submitted on 27 Feb 2024
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Genuine question: If I use a cryptocurrency such as Monero for its privacy benefits (only for spending, not as an investment), am I indirectly making crypto mining more profitable and hurting the environment?
ps. I don't use any crypto yet.
Edit: actually I don't care that much about private money. What if I were to just use some crypto because it's convenient? Would that be bad?
There are so many things we interact with that hurt the environment that I wouldn’t take too much personal blame if I were you. The big time miners are the ones using the electricity, and they could use their profits to invest in renewable sources for their mining. They just don’t do it, much like how every other company in the world doesn’t take environmentalism seriously and just says “you first”.
The government needs to focus on making renewable energy investment a requirement for the biggest offenders. That is the only way we will force large scale change that actually matters.