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Re:Ethereum will use around 99.95% less energy post merge by Shaanie on Tuesday May 18, 2021 @12:13PM (#27196768)
Isn't it still quite insane that around 0.5% of our global energy usage is spent on bitcoin, though?
Re:Ethereum will use around 99.95% less energy post merge by doggosphere on Tuesday May 18, 2021 @12:43PM (#27197336)
Is it? Over time human energy creation and consumption has grown exponentially with technological innovation. Fire to cook meat, a wagon attached to an ox, combustion engines, air conditioning, wireless networks, data centers, etc.

Today you probably consume more energy in a few days than your ancestors whole lives.

Now, we've created distributed, immutable property, something that has never existed before. It turns electricity into value storage. What is the "correct" amount of energy for humans to spend on such a thing?

Re:Ethereum will use around 99.95% less energy post merge by hjek on Tuesday May 18, 2021 @01:06PM (#27197696)
> What is the "correct" amount of energy for humans to spend on such a thing?

Perhaps the "correct" amount is less than what it would take to increase planet temperature by 4°C?

Re:Ethereum will use around 99.95% less energy post merge by doggosphere on Tuesday May 18, 2021 @01:15PM (#27197847)
Energy consumption has nothing to do with increasing planet temperature, if Bitcoin consumed 10x the energy via solar panels, it would not have any environmental impact beyond the raw materials used in the panels.

You're equating energy usage to carbon emissions, but you should be able to distinguish the difference.

Re:Ethereum will use around 99.95% less energy post merge by hjek on Tuesday May 18, 2021 @05:20PM (#27201324)
> Energy consumption has nothing to do with increasing planet temperature,

As long as we're using fossil fuels, planet temperature does in fact have something to do with energy consumption. You seem to be arguing that because renewable energy sources exists, Bitcoin has nothing to do with fossil fuel emissions. However, that is false, as 8% of Bitcoin mining happens in Inner Mongolia, which is home to many of China's large coal mines[0].

[0]: https://www.independent.co.uk/life-style/gadgets-and-tech/bi...

Re:Ethereum will use around 99.95% less energy post merge by doggosphere on Tuesday May 18, 2021 @06:02PM (#27201859)
I'm arguing that China subsidizes coal[0], and that China does not utilize a carbon tax[1].

So when you call for a ban of Bitcoin in the name in environmental concerns, you've decided to be the arbiter of energy usage, on what is productive and valuable, and what is not.

You're welcome to argue your points, but it would still be far more efficient and productive to addresses the actual core problem: coal fire plants, and energy prices.

[0]: https://www.iisd.org/gsi/faqs/china

[1]: https://www.carbontax.org/issues/what-about-china/

Re:Ethereum will use around 99.95% less energy post merge by reedjosh on Tuesday May 18, 2021 @01:31PM (#27198135)
How much energy maintains the USD's reserve status?
Re:Ethereum will use around 99.95% less energy post merge by matheusmoreira on Tuesday May 18, 2021 @03:45PM (#27200040)
According to some other comment on this thread:

> a bunch of aircraft carriers and planes and bombs and people with big guns, which gives the ability to say (credibly) that it is a crime to forge dollars no matter who you are or where you live

Cryptocurrency offers all this and more for a fraction of the price.

Re:Ethereum will use around 99.95% less energy post merge by matheusmoreira on Tuesday May 18, 2021 @12:24PM (#27196999)
Bitcoin? Yes, it's a useless coin. I wouldn't mind even higher amounts of energy being spent on Monero though.

It's good that Ethereum is moving to proof of stake. Not because of some environmental impact though. Mining is just really expensive, it results in huge fees making the coin almost unusable for normal people.

Re:Ethereum will use around 99.95% less energy post merge by reedjosh on Tuesday May 18, 2021 @01:30PM (#27198120)
100% Monero is amazing. 1500+tps and it's just getting started. Faster transaction speeds, privacy, just awesome!
Re:Ethereum will use around 99.95% less energy post merge by matheusmoreira on Tuesday May 18, 2021 @03:09PM (#27199521)
Yeah. It's essentially a perfected version of bitcoin. It should be the number one currency.
Re:Ethereum will use around 99.95% less energy post merge by broighbrobroigh on Tuesday May 18, 2021 @01:08PM (#27197730)
How much of our global energy usage is spent on poorly implemented ACPI code, Windows drivers, inefficient GPU drivers, etc...

Even better, how much energy is wasted per page view due to inefficient frontend web frameworks?

Seems to me that code is speech, and restricting what one can and can't do with silicon that one owns is absolutely ridiculous.