SourceHut terms of service updates, cryptocurrency projects to be removed

Re:SourceHut terms of service updates, cryptocurrency projec... by woodruffw on Monday October 31, 2022 @09:30AM (#33405423)

I don’t understand what energy’s fungibility has to do with anything I’ve said. Most economic uses of energy involve exchanging it for productive capacity or consumer demand. Bitcoin definitely is an economic use of energy, just not a good or desirable one.

I don’t think the directly comparable elements of the financial system (i.e., storage and settlement) use anywhere near as much power as Bitcoin does. Unless you’re doing that thing where you’re comparing the entire traditional economy to Bitcoin, which is silly: the traditional economy has actually valuable outflows, and Bitcoin does not replace factories and their workers.

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Re:SourceHut terms of service updates, cryptocurrency projec... by tossl568 on Monday October 31, 2022 @10:49AM (#33406537)

Not a good or desirable one in your opinion. It is absolutely good and desirable in my opinion to have neutral money that can be used by anybody but controlled by nobody. The US dollar is secured by military force which has a staggering energy footprint. Bitcoin finally settled roughly the same amount as Fedwire last year and uses exactly as much energy as it needs to.

[ Parent | on HN ]