Comment on Is cryptocurrency good for anything?
witheyeandclaw@lemmy.world 5 hours agoWait until you hear about the energy cost of traditional finances.
Comment on Is cryptocurrency good for anything?
witheyeandclaw@lemmy.world 5 hours agoWait until you hear about the energy cost of traditional finances.
YaBoyMax@programming.dev 4 hours ago
This is a silly thing to say. Normal payment processing uses more energy, but that’s only because there are many, many more payments going through it. It’s orders of magnitude more energy-efficient than crypto.
Nibodhika@lemmy.world 3 hours ago
Bitcoin in specific doesn’t scale, but other things like Bitcoin Cash scale without increasing the energy usage, because the energy cost of PoW Blockchains comes from their security, not from the scale, so doing 1 or thousands of transactions costs the same.
Plus, things like Ethereum have migrated to PoS which uses very small amount of energy comparable and also scales without increasing energy costs.
Ek-Hou-Van-Braai@piefed.social 4 hours ago
Bitcoin wastes so much energy, I think all normal payment systems combined use less energy than it.
witheyeandclaw@lemmy.world 2 hours ago
Perhaps, but it’s no more silly than comparing something’s energy usage to Norway.