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 I suggested multiple things you could do with spare electricity because you can do multiple things with a dam's worth of electricity, you don't have to choose only one. You could store some electricity, export some, and use some.
If you're trying to balance out inconsistent energy sources like wind or solar, storing a lot consistent energy e.g. from a dam seems like a decent plan.
@skyfaller you are wishing for energy storage technology that doesn't exist at any sort of usable price for this scale
@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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