Submitted 1 day ago by Sine_Fine_Belli@lemmy.world to science_memes@mander.xyz
https://lemmy.blahaj.zone/pictrs/image/5c9f5a43-305e-460d-ac61-aca5d6199b26.webp
cross-posted from: lemmy.blahaj.zone/post/37913022
What’s worse is that there are modern alternatives that can process hundreds of transactions per second without any mining at all
But Bitcoin people don’t care about that because they don’t use Bitcoin for actual payments, they use the price to pump their bags
What alternatives are you talking about? I’ve not heard of any.
In case this is an honest question:
Ripple and Stellar are popular examples of networks that can process lots of transactions fast and cheap, but in my perspective they’re both examples of tech bros finding a new playground - especially true for Ripple.
But there are other gems such as nano.org/en, which come to mind. It’s true open source, was distributed for free, has transactions without a fee and can process hundreds of transactions per second with a tiny ecological footprint.
Yeah, I know, it sounds too good to be true, but if you have a closer look, it just is good.
Monero does not exactly have the capacity for hundreds of transactions per second, but offers a degree of privacy that’s awesome.
And then there’s the OG Ethereum, which in fact can process lots of transactions per second often at a quite low cost, which offers a Turing complete smart contract language.
You see, there are at least some alternatives, which offer lots of fast and cheap or even feeless transactions or transactions with other benefits, wuch as privacy.
The development didn’t stop with the “train wreck waiting to happen Bitcoin”.
I’m glad Bitcoin created the whole crypto sphere.
At the same time I’m dumbstruck how most of the whole sphere is just a soulless, useless money grab.
It’s hard to find the projects that aren’t, but they are here, hidden in a pile of shit.
You might realize that the projects I listed are more or less random examples, which mostly have one thing in common: they’ve been around for quite some time.
What is the modern alternative for decentralized, eco friendly money?
I know monero is praised a lot by the people of penguin but that one also requires mining.
It is praised for its anonymity, and it uses an algorithm that purposefully works worse on GPUs and probably ASICS, but don’t quote me on that.
A lot of malware bundles miners for it because of it.
Ethereum
This is neither science nor a meme
But it does express a popular opinion which helps us all feel good about ourselves, which is what really matters
100%
I hate cripto and all, but i almost hate more people posting just statements in what’s suppose to be a meme community, not funny statements, no memes about politics, just text, bastardizing the point of a meme community, wich is to see… memes.
This definitional is a meme.
My pet hate is people who say things aren’t memes when they definitionally are.
Screenshots of twitter posts are a meme genre.
You may not like that fact but it’s true.
The scientific content is debatable I’ll give you that.
It’s stuff like this that leaves me completely hopeless that the AI industry will ever see the crash that it 100% deserves.
It could always turn out like NFTs did. Don’t lose hope yet.
Why did NFTs only last a single bubble, while Bitcoin persists?
Bitcoin never had the US economy dependent on it. It will slowly fizzle out as people realize their monopoly money becomes worthless when nobody wants to buy it.
AI on the other hand doesn’t have luxury of fizzling out because the economy is dependent on it.
Not completely useless. Iranians can use it to bypass the ridiculous number of sanctions western governments arbitrarily threw at them as those neoliberals pat themselves on the back for making the situaton worse. The dollar loses its centralization and I consider that a good thing.
This is a big part of it. Its about decentralization. Currently it has a massive environmental impact, but as renewable energy and better cooling technology develops, decentralized cryptocurrencies could be better than fossil fuel invested banks.
The decentralized nature does mean that sometimes criminals can use it, but some countries will consider you a criminal based on the color of your skin.
There are already cryptocurrencies with barely a fraction of the energy use of Bitcoin.
The most inefficient system invented by mankind? Bro have you seen how they built the pyramids?
If those stats are true, eff. I already hated that industry.
10 Gigawatts is actually a conservative estimate considering one of the figures I found for 2023 was “In 2023, bitcoin consumed about 121.13 TWh”, or about 14 Gigawatts 24/7
Science?
Exact number = sciecnce, you not see? Releasing paper with those number in 3 week. /s
Of course come racist on twitter can’t math…
I’m glad I blocked the blahaj.zone instance just to get it crossposted into a barely relevant community.
…sigh. Here I go blocking again.
What’s the issue with blahaj.zone users?
It’s not so much the users as the mods. I haven’t met one I liked. Tend to sniff their own farts a little too deeply.
What, are you afraid you’ll get cooties?
Can you block me with it please
zd9@lemmy.world 1 day ago
It was never meant to be used in this way at this scale though. He put out a new method/paradigm and that was that. It was the asshole investor tech bros that destroyed the planet once they learned of it.
Just like anything, almost no tech or thing is inherently bad, but it becomes bad when the ruling class get their greedy grimy little grimy in it.
DigitalAudio@sopuli.xyz 19 hours ago
Even gen AI, despite how it has been used as a tool for the enrichment of the more privileged 0.1% as a tool of suppression of artists’ (and critics of technofascism’s) voices, is not really a harmful technology.
With enough copyright protections, and regulation of deep fakes, digital formats, and a bunch of other things, I could see gen AI being a valuable collaborator to creative output and workflows.
Hell, other than weapons, I find it hard to justify calling any technology inherently evil or nefarious. And even then, weapons have saved many innocent people’s lives against unjustified attacks, wild animals and other threats.
Still, if we don’t treat each technological invention with the right amount of cautiousness and care, we risk the deaths of, sometimes, even thousands or tens of thousands of people.
zd9@lemmy.world 14 hours ago
Exactly. There are also hundreds of useful applications more than just consumer facing that you may be aware of. For example, I do research for climate models and we’re using diffusion models to make the data assimilation step more accurate, so there’s all kinds of things other than just making funny pictures or songs or whatever.
Chakravanti@monero.town 18 hours ago
Tech is like a gun and a space ship. Neither have Will.
Also, apparently you haven’t been paying attention to that Will’s candid work. You’re missing a few zeros on it’s current work. Sure they’re denying what is so fucking obvious. I hole you like cheese because our Madness Will make a Heidi face of being forced to eating something like Limburger.
Tehdastehdas@piefed.social 23 hours ago
Once again, a careless inventor put out something not designed to counteract obvious misuses. Shoud have designed a complete system with sensibly aligned incentives.
FauxLiving@lemmy.world 23 hours ago
If only his foresight were as powerful as your hindsight.
zergtoshi@lemmy.world 20 hours ago
Lots of the issues Bitcoin faces are not based on the design, but by and large what tech bros made out of it.
If you really want to learn more about it, have a look at the blocksize wars and Bitcoin Cash. Or just wait until Bitcoin finally collapses, which will happen eventually, but I’m not able to tell whether this year, decade or century.
What will break Bitcoin’s neck eventually is the OPEX of its mining. Mining on the one hand is a crucial part of keeping the network secure, but on the other hand is expensive way beyond the money that can be earned from transaction fees collected when doing the mining.
Bitcoins being generated from thin air when a new block is being produced are a major part of the revenue for the miners, but the amount of BTC getting created this way gets reduced over time until it reaches 0.
The thing about the mining is that it’s being done with more and more computing power, and it can’t go below whatever the current amount of computing power is by a lot without putting the network at risk.