Cambridge Bitcoin Electricity Consumption Index

Re:Cambridge Bitcoin Electricity Consumption Index by pixelpoet on Wednesday February 10, 2021 @10:05AM (#26090084)

I tried to make this point on Reddit, and was downvoted to a smoking hole in the ground by people who were complaining that they can't get GPUs to play games, and that it's not eco-friendly. Of course, playing games on high powered GPUs is super eco-friendly, as are many other ways of making money...

Half of them think people are mining Bitcoin on GPUs, and almost none of them know about Proof of Stake coins. Not that I want to excuse the egregious power consumption of PoW coins, but I do wish the holier-than-thou crowd would at least do a little more research.

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Re:Cambridge Bitcoin Electricity Consumption Index by Weebs on Wednesday February 10, 2021 @11:35AM (#26091351)

Yes, high powered gaming isn't eco friendly either, but can we please stop ignoring magnitude and utility in this thread?

You can power a typical US household for almost an entire month using the energy of a single bitcoin transaction. What utility does Bitcoin bring with that single transaction? Is it worth the measurable harm it's doing to our ecosystem and human lives?

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Re:Cambridge Bitcoin Electricity Consumption Index by pixelpoet on Wednesday February 10, 2021 @12:33PM (#26092197)

I wasn't ignoring it, only pointing out that they were ignoring the eco-unfriendliness of their preferred use of GPUs (single users with single GPU, also not mining fulltime probably since it's in their PC). Please tell me you see the hypocrisy.

I'm personally fully onboard with Bitcoin and all PoW coins being crap and wish they would die, leaving only PoS coins in the crypto space.

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Re:Cambridge Bitcoin Electricity Consumption Index by bonestamp2 on Wednesday February 10, 2021 @10:10AM (#26090145)

Some people are really out of touch. By the time they found out about Bitcoin in the past couple years it had moved past GPU mining almost a decade ago.

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Re:Cambridge Bitcoin Electricity Consumption Index by jcranmer on Wednesday February 10, 2021 @10:09AM (#26090126)

The price of all cryptocurrencies more or less move in tandem, so that when Bitcoin has a good time, so does all the cryptocurrencies that can be mined with GPUs.

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Re:Cambridge Bitcoin Electricity Consumption Index by louwrentius on Wednesday February 10, 2021 @10:08AM (#26090120)

Most people have a job and game part-time. GPUs in gaming rigs are not powered on 24/7. Let's be honest about this.

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