And honestly even if it did serve it’s actual purpose, the cumulative power consumption would still be a point of debate.
Yeah, but at that point you’d have to consider it against how much power the traditional banking system uses.
I’m aware of this, but it still mostly just something for people speculate on. Something people buy, sit on, and then hopefully sell with a profit.
Bitcoin was supposed to be a decentralized money alternative, but the amount of people actually buying things with crypto are highly negligible.
And honestly even if was actually used for that the power consumption would still be something to discuss.
null@slrpnk.net 5 weeks ago
Knock_Knock_Lemmy_In@lemmy.world 5 weeks ago
Yes, most people buy, sit on, and then hopefully sell with a profit.
However, there are a large number of devs building useful things (supply chain, money transfer, digital identity). Most as good as, but not yet better than incumbent solutions.
My main challenge is the energy misconception. The ethereum network runs on the energy equivalent of a single wind turbine.