Comment on Sovereign Computing | Start9

• halm@leminal.space ⁨1⁩ ⁨month⁩ ago

  I mean, that quote is truer for any regular currency than it is for shitcoin. The only unique thing about cryptocurrency (and especially POW ones) is that it’s flushing the environment down the drain even quicker than bog standard hypercapitalism. And still you can’t use your fucking monopoly money to buy a bottled water.

  source

  • bastion@feddit.nl ⁨1⁩ ⁨month⁩ ago

    Not “especially”, but “specifically” POW. I don’t agree about their worthlessness, but even if I did, it’s POW that’s shitting on the environment, not other systems.

    source

    • halm@leminal.space ⁨1⁩ ⁨month⁩ ago

      You say that with such certainty, as if proof of stake schemes won’t simply be a greenwashing alibi for accelerating validation of currencies using them, to the point of the same carbon footprint as POW.

      You’re simply wrong to say that POS is without environmental impact, even Ethereum’s carbon reductions were only that (and not nearly as high as they claimed).

      source

      • bastion@feddit.nl ⁨1⁩ ⁨month⁩ ago

        I do say that with certainty. And I didn’t claim that proof of stake has no environmental impact - it jist doesn’t have more impact than, for example, a web server.

        If I start a carbon-neutral wing of an oil company, of course it doesn’t make an oil company carbon-neutral. However, that doesn’t impact the real value of other companies that actually are carbon neutral.

        Similarly, Ethereum is, by far, not a “green” tech, and their usage of proof of stake can easily and reasonably be called greenwashing if they don’t also severely limit the usage of POW.

        Proof of Stake, though, is not a power-hungry tech, period. And it is a means for crypto to become, overall, a nominal energy user. There are other chains out there (cardano, algorand, nano, and many others) that don’t use PoW and that use reasonable amounts of energy.

        I appreciate your passion for the environment. But misrepresentation does not help your case, though misrepresentation may help those your fight.

        source