Re:Germany: Crypto held for more than a year will not get taxed
by mlyle on Friday May 13, 2022 @04:26PM
(#31372177)
> Proof of work? The entire worldwide bitcoin network uses less power that all the appliances in stand-by mode just in America, and I still have to see someone complaining about how wasteful stand-by mode is.
We've spent tons of money and had massive amounts of regulation and standards over the past couple of decades to try and reduce standby power. It's presently estimated at 5-10% of US power, versus 10-20% a couple decades ago. A relatively big share of it is very old devices.
I'm not opposed to distributed ledgers. Proof of stake will be augmented to provide nearly the same level of guarantee as proof of work, without all the power draw.
We've spent tons of money and had massive amounts of regulation and standards over the past couple of decades to try and reduce standby power. It's presently estimated at 5-10% of US power, versus 10-20% a couple decades ago. A relatively big share of it is very old devices.
I'm not opposed to distributed ledgers. Proof of stake will be augmented to provide nearly the same level of guarantee as proof of work, without all the power draw.