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Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by pvaldes on Monday October 15, 2018 @12:26PM (#18221093)
> the biggest waste of computing power and energy in the history of the planet

If we except the tetris, or minesweeper...

Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by root_axis on Monday October 15, 2018 @12:44PM (#18221286)
When will this horrible argument stop being thrown around? Tetris and minesweeper use a minuscule amount of power and typically provide many hours of entertainment. As technology has advanced, the power efficiency of these games increased exponentially.

On the other hand, blockchain mining responds to more efficient hardware by increasing difficulty in order to compensate for the impact of improved hardware on the hash rate, while still doing the same amount of work (i.e. processing the same amount of transactions).

The comparison is absurd and intellectually dishonest.

Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by stanleydrew on Monday October 15, 2018 @01:12PM (#18221562)
Yes but you're ignoring the many hours of entertainment derived from obsessively refreshing your Coinbase account balance.
Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by root_axis on Monday October 15, 2018 @01:22PM (#18221648)
Sounds like an idea for an idle game.
Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by Xylakant on Monday October 15, 2018 @01:59PM (#18222009)
If you enjoy that, I can totally recommend cookie clicker. http://orteil.dashnet.org/cookieclicker/
Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by root_axis on Monday October 15, 2018 @02:35PM (#18222373)
Yes, a great game. If you like cookieclicker, I think you'll enjoy universal paperclips even more.

http://www.decisionproblem.com/paperclips/index2.html

Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by FabHK on Monday October 15, 2018 @04:26PM (#18223368)
Yes, the arms-race character of Bitcoin difficulty adjustment is grating, and I don’t see an easy way around it with proof-of-work. If only there was some central institution we could trust.
Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by pvaldes on Monday October 15, 2018 @02:06PM (#18222075)
minuscule amount of power x huge amount of users x lots of time played rotating small blocks in a screen.

Maybe the cumulative effect on energy spent for playing tetris, or minesweep (not to mention much modern videogames) is not so small after all.

Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by root_axis on Monday October 15, 2018 @02:24PM (#18222234)
> minuscule amount of power x huge amount of users x lots of time played rotating small...

... Equals huge amount of entertainment hours. What you don't seem to be grasping is that the power consumption only increases the minimum amount necessary to meet demand for entertainment hours, i.e. the more power consumed the more entertainment hours produced. With PoW, power consumption continually increases but the amount of transactions processed remains the same. PoW is clearly and inarguably inefficient by comparison.

Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by knicholes on Monday October 15, 2018 @12:36PM (#18221182)
Unless you consider its possible therapeutic effects: https://www.smithsonianmag.com/smart-news/playing-tetris-cou...