If I call Mozilla and offer to donate a million shares of the dirtiest Earth-polluting company, they should take them. Exit the position. Their mission is not to be picky about how legal money arrives.
They're not beholden to any obligations to maximize donations (already a dubious claim, absent evidence that people were actually donating with cryptocurrencies) in manners they consider unacceptable.
Put another way: you wouldn't be surprised if the ASPCA refused donations in the form of shares in PuppyKicker Inc. Mozilla's decision here warrants a similar response.
If I was in charge of Mozilla's finances (which I'm not), I would be perpetually anxious about Google yanking their money as soon as its lawyers are sufficiently convinced that another browser vendor's marketshare sufficiently deflates any accusations of monopoly.
They’re essentially saying “PuppyKicker Inc. is a stock. Therefore, all stocks are bad.”
What’s the carbon footprint of accepting a large donation from Google? How many flights, full time staff are involved with ensuring this?
Their decision is short sighted for many reasons, including the unpopular truth that in the long term they will need to natively support cryptocurrency “Web 3” features to survive as a competitive browser.
How much CO2 pollution is each transaction responsible for, and how much would it cost to offset that CO2?
It seems like there should be some threshold above which the donation will include within it the funds needed to compensate for its externalities, but I don't know if it's possible to create a smart contract that only allows donations above a threshold amount.
You would also have to factor in the pollution from e-waste generated by miners buying and replacing ASICs, although that's harder to quantify.
But we should also consider whether engaging in such a transaction is worthwhile as a matter of principle. If the organization's goals include environmentalism, does legitimizing Bitcoin by advertising their acceptance of it run counter to those goals?
Bitcoin’s pollution is not strongly correlated with its transaction volume.
It’s a famous rare collectible. People will mine it whether there is a high volume of transactions or not.
369.49 kgCO2eq. https://www.forbes.com/sites/philippsandner/2021/11/19/bitco...
> An average Bitcoin transaction has a size of 670 bytes on the Bitcoin blockchain, representing an estimated carbon footprint of 369.49 kgCO2eq. Given a price of USD 50 per metric tonne of CO2eq, the compensation of one average Bitcoin transaction costs USD 18.47.
Near 0. PoW is about agreeing on what the current state is. A transaction itself doesn't cost very much energy. If you were to process 0 transactions for the next agreed upon state it would take just as much energy as processing thousands of them.
Whether there are zero or a million¹ transactions in a block: the power to mine it is the same.
There is a misunderstanding that hashing power is related to throughput. That correlation does not exist. Hashing power is a function of the price of a Bitcoin.
¹yes, I'm aware of the limts imposed by block sizes. But that too has nothing to do with the power.
If Phillip Morris wanted to become a big donator to the Cochrane collaboration, they would refuse by policy.
Do you think they're wrong, and they should take the money?
edit: For example: "Tesla used to accept Bitcoin as payment, but once Elon Musk realized that it was making him look like a PIPG, he had to reverse course."
Why not just "Planet-Incinerating Grifter," or PIG. Then it also applies to Big Oil executives :)
That's not to defend Big Oil or its shills. That industry should've been hamstrung years ago like the poison market it is. But it might be why HN gets extra riled up about crypto while letting other things slide.
Then look at the ION decentralized identity project Microsoft and others are building in top of it, or Peter Todd's decentralized document integrity attestation project, opentimestamps.org/, or how the bisq.network project has innovated a historically new way of working, where contributors are paid for improving a software project, yet no one is in charge and no funds or data are pooled, avoiding honeypots.
It has nothing to do with having enough impact (twitter lol) and market analysts to buy very low, announce owning millions of BTC and accepting BTC for Tesla, then selling a month later around peaks. And then doing exactly the same with Doge. Then doing it again in 2021. Oh, yes, the first sentence was about the trading value peak in 2017-2018. Nope, must be a coincidence.
Tesla sold 10% of its BTC position. It still holds BTC on the balance sheet.
At their core, Ponzi Schemes are investment funds which pay existing investors with funds collected from new investors [1]. There's really no way of looking at cryptocurrency where this is an accurate analysis.
Generally, existing cryptocurrency investors are not "paid" by the "fund" (currency) in any capacity. This is true for BTC & ETH, which represent the bulk of the crypto market.
The more common argument is that anyone can create a new currency, hype it up, drive market value higher, then exit at the expense of new investors. That's a totally legitimate concern, and it happens far too often; but its not a ponzi scheme. The accurate term would be "pump & dump".
There are many shades of gray between a pure pump & dump and something more legitimate. "Hype" (also known as "Marketing") is something every investment vehicle partakes in; from BTC (far beyond the "hype" phase) to DOGE (I'd label that one as "mass insanity") to TSLA (a fraction the revenue of many other auto manufacturers, but significantly higher value? how'd they get there?) to even PFE (this comment is Sponsored by Pfizer [2]). There are obvious examples of this behavior in the crypto community, but its simply not happening among major currencies; taking a pump & dump "scheme" to a billion dollar valuation is exceedingly rare, and there are currently ~90 coins with a market capitalization above $1B.
Where one does see it happening, in my opinion, is with (most) NFTs. Many holders won't admit this, but there's no reality where 99% of them will be worth anything after the initial purchase; their goal is to shill and liquidate. However, I'm cautious in extrapolating this concern to the "technology" of NFTs, and even further to all of crypto; its similar to asserting all of emerging med-tech is a scam because Theranos was. Ultimately, investment vehicles don't need to "make sense" to have marketable value; but that doesn't mean critical thinking is unnecessary when evaluating it.
There are some currencies, including ETH2, which stake and return an APY on investment. This could adequately, though somewhat inaccurately, be interpreted as being "paid out by the fund"; but the reward doesn't come from new investors. Where it comes from depends on the currency, but with ETH2 it is effectively minted from thin air. This is an inflationary action, which could (again, adequately but inaccurately) be interpreted as "taking money from new investors" (by lowering the value of each ETH they purchased). However, this concern is mitigated by the inflationary effect impacting all ETH holders, not just new investors, and the deflationary counter-effect from london hard-fork transaction fee burning.
ETH is currently still inflationary, but only through a delicate balance of PoW-style minting, PoS-style reward issuance, and london fee burning. The zeitgeist in the ETH community right now is to achieve deflation, for better or worse.
The statement that proof-of-stake APY represents "being paid out by the fund" in the context of evaluating cryptocurrency as a ponzi scheme, is very tenuous. Crypto is, at least in the US, not a currency; its a USD denominated investment vehicle. Being given more crypto does not "pay out" your USD investment, any more than a stock DRIP would be a "payout", because there is no "out". It does not allow you to exit the investment; on the contrary, it increases your investment.
Its totally fair to dislike crypto; I'm certainly in that camp. But its critically important to understand the mechanics, engineering, and economics of why its such a harm to society before one begins levying blind criticism.
[1] https://www.investor.gov/protect-your-investments/fraud/type...
I like it.
It was a mania in retrospect, because it blew out of proportion, but there's nothing intrinsic about the asset which would have made it deterministically, conclusively obvious to a knowledgeable investigator that a crash was in-bound (beside, maybe, its biological nature; biological investments are irregular). Rather, it was unsustainable because of the price; but what price is sustainable for tulips? What price is sustainable for bitcoin?
Markets are very, very weird; probably because human behavior is weird. An undeniable axiom: Markets can remain crazy longer than you can remain solvent. And at some point, a "crazy" market isn't crazy; its just the market. Many would say that a $10,000 engagement ring is a crazy asset to purchase; yet thousands upon thousands are sold & resold every year.
about:config -> network.http.referer.XOriginPolicy -> set to 2A single Google Search: 1,080 J
A single Solana transaction: 1,837 J
One eth2 transaction: 126,000 J
Watching an hour of television on a 40 inch+ LCD TV: 540,000 J
https://solana.com/news/solana-energy-usage-report-november-...
1779.11 kWh per single Bitcoin transaction would be
One Bitcoin Edit: Block Mined: 6,404,796,000 J
One Bitcoin Transaction on a Block: 2,287,427 J
One Credit Card Transaction: 5,351 J
Edit: Since the source isn't exactly clear if one transaction is a reference to one block mined or one transaction on that block, I'm going to assume it is for one block mined. I'm going to estimate one block contains 2800 transactions.
The bellow comment calling it “vapor ware” is ignorant.
I've been reading variations of the line "Ethereum is only weeks/months away from Proof of Stake" since probably early 2019.
Also doesn't Proof of Stake introduce another set of problems?
No, you haven’t. POS was, at best, a year plus away in 2019. No one credible was suggesting “weeks” back then… the beacon chain wasn’t even close to live yet.
ETH2’s beacon chain launched in Dec 2020 successfully, and has been running over a year in parallel with tens of billions in staked currency protecting it. This launched on time. The plan was originally:
1) beacon chain
2) sharding
3) the merge
The merge is when PoS takes over for PoW. The roadmap was changed in mid 2021 to push #3 before #2. That’s what’s about to happen, and I would even now put it in “months” . It won’t be “weeks” until a merge block # is announced, which will itself be weeks after the announcement of a successful testnet campaign (often multiple).
That's the main problem when it comes to this topic, isn't it?
The testnet for the second phase of ETH2 - which is when the execution chain is merged into the Beacon Chain so that Ethereum can fully switch from PoW to PoS and reduce its energy consumption by 99.95% - was launched on December 20th, 2021:
https://blog.ethereum.org/2021/12/20/kintsugi-merge-testnet/
The second phase is expected to be completed before the end of 2022.
I mean, how many times have we had to diffuse the difficulty bomb? How many more times will we?
I guess we at least agree that your definition of "vaporware" is a lot stricter than mine. Hell, even Duke Nukem Forever came out eventually, so I may very well be wrong.
Kind of tells you a lot about humanity.
https://www.axios.com/cryptocurrency-scam-crime-popularity-r...
Considering 40% of all of Bitpay's transactions are for "Gift Cards" [0] (a la money laundering), it seems to be that this blog is being as charitable as possible to CC to get their numbers.
The fact is, there is no actual evidence of this extreme prevalence of crime within the crypto space that you allege.
This is not congruent with the gift card example. There is no comparable product that is known to be used in the majority of cases for money laundering.
You know there is this company I heard of that has a long history saying some nice things about cigarettes. Maybe I should buy some.
Don't get me wrong, I'm definitely not a fan of cryptocurrency, but I'm also less than impressed with jwz's maturity. If I didn't know he founded Mozilla, I would've taken him for an angry teenage kid trying to be edgy on the internet.
Regardless, it's sad to watch Mozilla debase themselves, not only by supporting crypto at this stage of the game, but with cringeworthy meme language like "HODL." That was funny for about a week during the Gamestop fiasco; a year later it's another "how do you do, fellow kids" moment.
Dogecoin IS a meme and has/had a multi-billion dollar cap. Can't blame Mozilla for openly scraping the bottom of the barrel with their marketing.
Yes I can. It makes them look cheap and corny, and weakens their credibility.
> Dogecoin IS a meme and has/had a multi-billion dollar cap
Sure, for about a month, a year ago. It's old news. Anyone still "HODLing" Doge is just a speculator who missed the last wave and is desperately hoping it'll come back so they can sell out.
Point is, Mozilla is wasting their time by marketing to that crowd. Scraping the bottom of the barrel is a bad look.
Beggars can't be choosers.
If this move was done out of desperation, then they're dead in the water as an organization. More likely, some tone-deaf middle management team thought it would be a good "trendy" outreach initiative.
He still maintains XScreensaver, but now his day job is the ownership of a bar/pizza/venue establishment.
Probably a better fit for him.
And Brave is more than just a "fork."
I believe this.
I'd like to understand how, exactly, moving from a non-profit foundation's browser to a for-profit corporation's fork of that browser with a built in ad marketplace is a net win for my privacy. That seems like a net loss: the incentive is now to make money off of me, and the browser is actually running non-website code with that goal in mind.
* Machine learning for ads is done locally; can't be evil
* Trackers and third party ads are blocked.
When is FireFox going to block third party ads and trackers?
> * Machine learning for ads is done locally; can't be evil
There are too many moving pieces to this to dissect in a single comment. But to roughly sum them up: just about every adtech company that promises "privacy preserving targeted advertising" via ML uses some information-theoretical definition of privacy that doesn't align with normal user's intuitions about the word "private." We saw this with k-anonymity schemes, and we'll see it again when these schemes attract more scrutiny.
And on top of that: Brave's own site implies that local ad ML is currently opt-in only[2].
[1]: https://support.mozilla.org/en-US/kb/enhanced-tracking-prote...
I see the part about trackers. What about ads? Does it also block YouTube ads? That's a really nice feature built into Brave.
> just about every adtech company that promises "privacy preserving targeted advertising" via ML
The difference here is it happens in the browser. Does ML happen in Chrome?
> Brave's own site implies that local ad ML is currently opt-in only
Your reading of that isn't correct. The opt in is for ads. And local machine learning comes along with opting in.
Ads are the way the internet can be funded. For most free sites, they need to either be subsidized by another income (see say a personal website that you host yourself - you pay for the domain and hosting if it's not local). Or by either selling a product (see many software companies), or lastly by using ads (see YouTube, Vimeo, and numerous other video sharing sites)
I understand targeted ads being a nuisance and vehemently despise the datamining that supports said systems. But ads in general aren't an evil until they obfuscate the core material of a site. When you block ads, especially on YouTube for creators who use the platform to attract ads and sell their content then you prevent people who've worked to supply their income. If your issue is the ethics that are at odds with Alphabet and the privacy concerns, your fight is with your government to restrict them, Alphabet's own trackers (which you can work towards disabling).
I’ve also contributed a significant amount to an open source developer on GitHub directly through Brave.
jwz and I were among the actual, full-time job, [email protected] Mozilla founders. There was no "Mozilla" to work at then, it was Netscape employing almost all staff members, with Chris Blizzard of Red Hat dotted in. Mozilla was not spun out until 2003 summer, when AOL laid off most of Netscape but kept three of us mozillans for a few months to complete the transition to the new nonprofit.
https://www.jwz.org/gruntle/nomo.html
I led Mozilla on all tech decision making from 1998 through 2014.
Does this mean I was "supplanting" myself by doing Brave? No. In doing Brave, I certainly was not supplanting jwz, who had nothing to do with Firefox (born as mozilla/browser in 2001, over two years after jwz quit).
You want to talk about Ponzi? Crypto has nothing on the Fed. The global financial structure is a planet-incinerating Ponzi scheme, so the point of targeting one minuscule subset of it is suspect.
I'd be surprised if Uncle Sam decided to drop the dollar and lose the influence it provides.
A blockchain based "e-dollar" is certainly possible, but Bitcoin will forever be a hugely wasteful online casino.
Hey, let me check if he still checks the HN referer and insults us if we follow links from HN to his blog:
https://www.jwz.org/blog/2022/01/today-on-sick-sad-world-how...
Edit: Aw, nope, looks like he got rid of it
Project Code Rush - The Beginnings of Netscape / Mozilla Documentary [1]
wrong,
the tweet prompted a strong reaction from people, founder jwz then reacted too few days later
> Dabble in @dogecoin? HODLing some #Bitcoin & #Ethereum?
> We’re using @BitPay to accept donations in #cryptocurrency
The tweet prompted a strong reaction from Mozilla founder jwz: https://twitter.com/jwz/status/1478022085737803776
> Hi, I'm sure that whoever runs this account has no idea who I am, but I founded @mozilla and I'm here to say fuck you and fuck this. Everyone involved in the project should be witheringly ashamed of this decision to partner with planet-incinerating Ponzi grifters.