Per popular request we're exploring alternative payment options. Let's assume we keep Paypal and ONLY add #bitcoin as an option, will you use Bitcoin for future purchases?
@PINE64 I am very concerned about the energy expenditures of Bitcoin. During the climate crisis we must conserve energy, and proof-of-work intentionally wastes energy as a fundamental design goal.
E-mail sometimes uses proof-of-work to defeat spam, and I still use e-mail. But I avoid using cryptocurrencies like Bitcoin or Ethereum that rely on proof-of-work or similarly wasteful algorithms. There must be better alternatives, like proof-of-stake or Filecoin's proof-of-storage.
@tomosaigon Citation needed.
Regardless, you could have used that energy to do something like Folding@Home and maybe cure a disease.
Or store it for later in a battery or some less obvious storage solution.
Or power a small country of actual humans, we're not talking about small amounts of power here. Build infrastructure to get it to where the people are.
If Bitcoin miners weren't using that energy, I find it difficult to believe that nobody would.
@tomosaigon You're right that current battery technology is expensive and difficult to scale. That said, energy storage is something we'll have to figure out if civilization relies more heavily on renewables, and it's certainly something you'd expect to see investment in with any Green New Deal. I feel confident storage will improve.
My personal favorite concept is Energy Vault, which stores energy by lifting heavy blocks. It just looks cool: https://energyvault.com/
@skyfaller These kinetic storage towers do look cool. Molten salt storage is another neat concept.
Our civilization will need to make large improvements on not only energy storage but production and distribution. Right now, much of that energy goes to waste bringing it to where it's needed, or being stored inefficiently until it can be distributed.
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