Comment on Meta shareholders overwhelmingly rejected a proposal to explore adding Bitcoin to the company's treasury, with less than 1% voting in favor of the measure

• echodot@feddit.uk ⁨1⁩ ⁨month⁩ ago

  Wait but that’s like saying that as long as the world has at least one electric car the internal combustion engine can continue to exist without issue.

  If the vast majority of cryptocurrencies are still power hungry and the most commonly used cryptocurrency is power hungry then the fact that some of the others are better doesn’t really help.

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  • Knock_Knock_Lemmy_In@lemmy.world ⁨1⁩ ⁨month⁩ ago

    that’s like saying that as long as the world has at least one electric car the internal combustion engine can continue to exist without issue.

    No. PoS (EV makers) are not supporting the existence of PoW (ICE vehicles). In fact, one builder made a deliberate planned move from PoW to PoS. All new builders are PoS.

    the vast majority of cryptocurrencies are still power hungry

    False. Remove Bitcoin (>100TWh) and the only PoW coin in the top 10 is DOGE (~4TWh).

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    • echodot@feddit.uk ⁨1⁩ ⁨month⁩ ago

      Oh great so if you remove bitcoin your argument works, trouble is, bitcoin exists

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      • Knock_Knock_Lemmy_In@lemmy.world ⁨1⁩ ⁨month⁩ ago

        The only way to remove bitcoin is through redundancy.

        Support it’s successor technologies that improve on the design in every single dimension (including energy efficiency).

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    • LandedGentry@lemmy.zip ⁨1⁩ ⁨month⁩ ago

      [deleted]

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      • Knock_Knock_Lemmy_In@lemmy.world ⁨1⁩ ⁨month⁩ ago

        The analogy doesn’t stretch to allowing fiat to be compared to public transport.

        A medium that is decimated when Trump shouts “Tariff” is not the gold standard.

        Fiat is only the gold standard when it is backed by actual gold.

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• LandedGentry@lemmy.zip ⁨1⁩ ⁨month⁩ ago

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  • Knock_Knock_Lemmy_In@lemmy.world ⁨1⁩ ⁨month⁩ ago

    Your dislike of PoW is totally understandable.

    Bitcoin maxis who dismiss all other blockchains as Alts are very much like climate deniers. They illogically block improvements and efficiencies in the Bitcoin protocol (e.g. block size increases).

    However if enery usage is your main criticism then attacking PoS is like campaigning against wind or solar. We want PoS to completely replace PoW.

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