Re:Cryptocurrencies’ Carbon Footprint Underestimated
by godelski on Tuesday October 05, 2021 @04:31PM
(#28765190)
We should also note that we can build contracts into the network itself. For example algorand built a contract to offset emissions through transaction fees (they are POS so have a lower footprint than POW). But there's no reason we couldn't build taxes into such a system as well.
I think a lot of people are missing that cryptocurrency is still a very new concept. Both the bulls and bears. It's going to take some time to work it all out and that's okay, just like with any technology. We're talking about something invented in 2008, that's 12 years. It's unsurprising that there's a lot of kinks to be worked out. It typically takes 20 years for a technology to start to mature. I mean hell, the internet is a lot older and we still have a lot of things to work out.
Will crypto be useful in the long run? Who knows. I think it holds some promise but I do think people vault over sell it and people also dismiss it too quickly.
I think a lot of people are missing that cryptocurrency is still a very new concept. Both the bulls and bears. It's going to take some time to work it all out and that's okay, just like with any technology. We're talking about something invented in 2008, that's 12 years. It's unsurprising that there's a lot of kinks to be worked out. It typically takes 20 years for a technology to start to mature. I mean hell, the internet is a lot older and we still have a lot of things to work out.
Will crypto be useful in the long run? Who knows. I think it holds some promise but I do think people vault over sell it and people also dismiss it too quickly.