Bloody hell, the #bitcoin crowd have discovered my latest privacy post. So listen up: a billion identical copies of a database isn’t decentralisation. It isn’t a prerequisite for privacy. And if it destroys our habitat, it’s a crime against humanity. You can show yourselves out.
Mostly, no one knows what #Bitcoin 's footprint is. There's no way to determine that from energy usage. Electrical energy comes in a range of footprints, even negative ones. If we can get mining to go where footprints are lowest, perhaps even stimulate development of new sources like that, it's impact could be positive.
Also, getting rid of the petrodollar should happen yesterday.
@stevenroose @aral the argument I've seen against that is simply that even if bitcoin mining moves to lower energy sources, it is using up those resources, and they stop something else moving. so no net gain... they could stimulate more, but at the moment, people are reopening coal stations instead...
@glynmoody @aral I'd be curious to see hear of who is reopening coal stations..
About that argument, that never really holds. A ton of either produced energy can't find a user or potentially freely produced energy is not produced because uncertainty of finding a user.
Bitcoin Mining helps projects building, mostly renewable (because lowest marginal cost), energy production because they are a reliable buyer of the energy.
@glynmoody @aral People easily forget that electrical energy isn't very transportable. It's not so that a kWh used for #Bitcoin mining somewhere, could have instead been put on the consumer market to lower its energy price (or footprint). This is very often not the case. In fact, energy is cheapest exactly where that is not the case. And since mining is so mobile, it will naturally move to those places.
That are remote renewables like hydro, wind, geothermal; or abandoned industrial sites.
The social network of the future: No ads, no corporate surveillance, ethical design, and decentralization! Own your data with Mastodon!