Crypto uses too much electricity to be worth using. It’s an environmental disaster even on the scale of just being used by libertarian techbros. If all society was using it, it would be so bad.
Bitcoin deliberately wastes electricity to preserve its economy. Bitcoin transactions could use a tiny fraction of the electricity, but the thing is, transactions can only be codified as long as people have an incentive to mine, because mining and transaction history are linked. And since so many people are mining, the system automatically increases the difficulty of the computations required to stop a flood of cash into the market. So the network identities and then repeatedly throws out perfectly good mathematical solutions to the transaction record in order to slow down bitcoin creation, and all of that costs electricity.
Crypto uses too much electricity to be worth using. It’s an environmental disaster even on the scale of just being used by libertarian techbros. If all society was using it, it would be so bad.
Bitcoin deliberately wastes electricity to preserve its economy. Bitcoin transactions could use a tiny fraction of the electricity, but the thing is, transactions can only be codified as long as people have an incentive to mine, because mining and transaction history are linked. And since so many people are mining, the system automatically increases the difficulty of the computations required to stop a flood of cash into the market. So the network identities and then repeatedly throws out perfectly good mathematical solutions to the transaction record in order to slow down bitcoin creation, and all of that costs electricity.