Just 137 crypto miners use 2.3% of total U.S. power

Re:Just 137 crypto miners use 2.3% of total U.S. power by 303uru on Friday February 09, 2024 @11:49AM (#39316909)

You're going to compare the entire banking system, which services essentially every American to this complete waste of time and resources which services a vanishingly small number of people?

>The point is the amount of crypto being mined.

Is it? According to who? You? What's the utility of crypto? I've yet to see any materialization other than casino and funding terrorism.

[ Parent | on HN ]

Re:Just 137 crypto miners use 2.3% of total U.S. power by digging on Friday February 09, 2024 @11:53AM (#39316980)

> Is it?

Yes, because cryptocurrency is the thing we're measuring. The number of miners is meaningless in this conversation. It would be like talking about how many companies manufacture wind turbine blades.

[ Parent | on HN ]

Re:Just 137 crypto miners use 2.3% of total U.S. power by earthling8118 on Friday February 09, 2024 @10:43PM (#39323370)

How would the power usage of bitcoin scale if it did serve every American? Until that question has an answer I don't think this argument can be considered valid. It's an incredible waste as it is, but just dismissing it outright doesn't make sense. If the number of transactions scaled up would the power usage become more reasonable?

[ Parent | on HN ]

Re:Just 137 crypto miners use 2.3% of total U.S. power by ben_w on Saturday February 10, 2024 @05:44AM (#39325171)

Bitcoin by itself cannot serve every American, regardless of power consumption, and that's by design.

It can't even serve every lunch in Vermont without extra layers running on top of it.

[ Parent | on HN ]