Comment on Just 137 crypto miners use 2.3% of total U.S. power — government now requiring commercial miners to report energy consumption

• bigMouthCommie@kolektiva.social ⁨11⁩ ⁨months⁩ ago

  the entire Bitcoin block chain could be run on the phone I'm using to write this. there is nothing inherent to the protocol that dictates such massive power use.

  and dogecoin merge mines with all the other script coins so how can you even calculate its independent usage?

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  • FaceDeer@kbin.social ⁨11⁩ ⁨months⁩ ago

    there is nothing inherent to the protocol that dictates such massive power use.

    Yes there is, massive power use is the entire point of proof-of-work. If Bitcoin blocks could be produced without massive power use then the blockchain's system of validation would fail and 51% attacks would be trivial.

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  • eager_eagle@lemmy.world ⁨11⁩ ⁨months⁩ ago

    idk their methodology - source

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    • bigMouthCommie@kolektiva.social ⁨11⁩ ⁨months⁩ ago

      if they don't explain their methodology, there is no reason to believe they got it right

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      • eager_eagle@lemmy.world ⁨11⁩ ⁨months⁩ ago

        then there’s no reason to believe they got it wrong

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• bigMouthCommie@kolektiva.social ⁨11⁩ ⁨months⁩ ago

  >it’s been in steady decline since the meme blew up.

  it got a pretty big bump from elon a couple years back, but dogecoin is nearly perfect money. it isn't deflationary, it's cheap to transact, and the on-ramps are ubiquitous.

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