this post was submitted on 11 Aug 2024
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Mildly Interesting
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So which crypto do you use at the grocery store?
If nobody wanted to use crypto, energy usage (excess or otherwise) wouldn't be an issue.
I use bank euros, which are fake euros, which are fake gold. Bitcoin's energy consumption has never been an issue. It is only worth mining Bitcoin when demand on your local grid is low
Bitcoin alone accounts about half a percent of the world's electricity usage. Even if "demand on your local grid is low", that doesn't mean supply of renewables alone is necessarily high, especially if that happens overnight when solar output is low and a fossil plant is keeping things running. In that case we could have just as easily, you know... Not feed a ponzi scheme.
PS: if you think an arbitrary metal would have solved the world's economic problems if only we stuck with it, I've got bad news for ya.