Bitcoin and other PoW coins are an ESG nightmare

Re:Bitcoin and other PoW coins are an ESG nightmare by viklove on Monday February 15, 2021 @12:44PM (#26145019)

> Escrow accounts and merchant layers are in development.

Sorry, this does not make BTC a bank.

As they continue to add more features, we will see what BTC will become and how it may be useful. But comparing it to a bank is silly.

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Re:Bitcoin and other PoW coins are an ESG nightmare by Nursie on Monday February 15, 2021 @12:45PM (#26145031)

Ergh, sorry, that's a mis-paste from another thread I was talking on, not an assertion of mine.

I agree, Bitcoin is not a bank, that makes comparing its energy footprint to the banking system totally pointless.

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Re:Bitcoin and other PoW coins are an ESG nightmare by viklove on Monday February 15, 2021 @12:48PM (#26145077)

For the record, I'm not trying to defend BTC's energy footprint. It's a black-eye on the tech and a problem that needs to be solved. Proof-of-stake over proof-of-work is an interesting solution, and part of the reason I hold a lot more ETH than BTC. That's why I'm so interested by cryptos though -- BTC just opened the door and the derivatives are where the real innovation will happen in my opinion.

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