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Tehdastehdas@lemmy.world ⁨1⁩ ⁨week⁩ ago

Crypto money is a waste of computation that could be used for something productive, like protein folding.

When investing in (most) companies, the money buys means of production for making a product someone can use. I like that.

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ThrowawayPermanente@sh.itjust.works ⁨1⁩ ⁨week⁩ ago
Fair enough, you might like a Proof of Stake coin like Ethereum more

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- Tehdastehdas@lemmy.world ⁨1⁩ ⁨week⁩ ago
  Indeed, Wikipedia: Proof of stake # Energy consumption
  
  In 2021, a study by the University of London found that in general the energy consumption of the proof-of-work based Bitcoin was about a thousand times higher than that of the highest consuming proof-of-stake system that was studied even under the most favorable conditions and that most proof of stake systems cause less energy consumption in most configurations.
  
  In January 2022, Erik Thedéen, the vice-chair of the European Securities and Markets Authority, called on the EU to ban the PoW model in favor of PoS because of the latter’s lower energy consumption.
  
  Ethereum’s switch to proof-of-stake was estimated to have cut its energy use by 99%.
  
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