Re:Cambridge Bitcoin Electricity Consumption Index
by gruez on Wednesday February 10, 2021 @08:49AM
(#26088959)
Are there similar concerns about the pollution produced by gold mining? eg. "we should ban gold because it's so toxic to mine!"
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Re:Cambridge Bitcoin Electricity Consumption Index
by tokai on Wednesday February 10, 2021 @08:51AM
(#26088997)
Yes ofc. Nobody thinks mining is a clean industry.
Re:Cambridge Bitcoin Electricity Consumption Index
by gruez on Wednesday February 10, 2021 @08:59AM
(#26089126)
There might be some concerns (eg. "wow gold mining is dirty, we should do something about it"), but I personally haven't seen anything close to "we should ban gold".
Re:Cambridge Bitcoin Electricity Consumption Index
by FrozenSynapse on Wednesday February 10, 2021 @09:36AM
(#26089650)
because gold is useful, bitcoin only has speculative value
Re:Cambridge Bitcoin Electricity Consumption Index
by gruez on Wednesday February 10, 2021 @12:42PM
(#26092314)
This is addressed in a sibling comment. https://news.ycombinator.com/item?id=26089473
Re:Cambridge Bitcoin Electricity Consumption Index
by dd36 on Wednesday February 10, 2021 @09:12AM
(#26089335)
And gold is useful.
Re:Cambridge Bitcoin Electricity Consumption Index
by gruez on Wednesday February 10, 2021 @09:23AM
(#26089473)
Almost half of the world gold demand is for speculative/investment purposes[1]. If you consider jewelry to be speculative as well (at least partially, since if you only cared about appearance you could just plate it), the vast majority isn't "useful".
[1] https://www.statista.com/statistics/299609/gold-demand-by-in...
Re:Cambridge Bitcoin Electricity Consumption Index
by avh02 on Wednesday February 10, 2021 @11:18AM
(#26091142)
> Almost half of the world gold demand is for speculative/investment purposes
fair (and I think gold as a "beautiful" metal is dumb), but the other half of the usage (on your claim) is for an array of productive things. I don't see wires, heat reflectors, etc being made out of bitcoin.
Re:Cambridge Bitcoin Electricity Consumption Index
by gruez on Wednesday February 10, 2021 @12:41PM
(#26092307)
>but the other half of the usage (on your claim) is for an array of productive things
It's far less than that. Only 7.48% is definitely useful (under "technology").
Re:Cambridge Bitcoin Electricity Consumption Index
by SpicyLemonZest on Wednesday February 10, 2021 @08:54AM
(#26089042)
There are. They're not super present in the public consciousness because they're drowned out by the concerns about the prevalence of child labor in many countries' gold mines.