Crypto and HR 3684 - urgent attention needed from all!

[Fenixgoon]

Environmental Impacts of Cryptocurrency

You have probably heard of Bitcoin or Ethereum; you may have even heard stories of people getting rich quickly from these and other types of cryptocurrency. However, you may not have thought of the possible environmental impacts of these digital currencies. This is due to the vast amount of...

www.sierraclub.org

So lets move to proof of stake and outlaw POW.

Or just ban crypto exchanges altogether. Even if POS uses 1/10 or 1/100 of the energy....what does it *produce*, or how does it *add value*? We're literally using energy for NOTHING

 

[Roger Wilco]

From the few articles I've read, it seems like the success (or failure) of the ETH 1.0 to ETH 2.0 transition will largely dictate how soon BTC moves to POS.

Pumping tons of CO2 during a climate crisis is easy justification for governments to shut shit down. I've heard a bunch of crypto people claim that crypto is driving clean energy innovation, but that smells entirely like bullshit.

On the other hand, I could easily see the GOP propping up crypto to virtue signal their anti-government and anti-environment death cult.

 

[Lost_in_the_HTTP]

At least the second one I've seen in a few days.

More than $90 million in cryptocurrency stolen after a top Japanese exchange was hacked

CNBC|18 minutes ago
Japanese cryptocurrency exchange Liquid has said some of its digital currency wallets have been "compromised."

 

[Brainonska511]

From the few articles I've read, it seems like the success (or failure) of the ETH 1.0 to ETH 2.0 transition will largely dictate how soon BTC moves to POS.

Pumping tons of CO2 during a climate crisis is easy justification for governments to shut shit down. I've heard a bunch of crypto people claim that crypto is driving clean energy innovation, but that smells entirely like bullshit.

On the other hand, I could easily see the GOP propping up crypto to virtue signal their anti-government and anti-environment death cult.

Sure, some are moving servers to clean energy, but it's still wasting resources to create monopoly money. Could be using that clean energy capacity for real uses instead.

 

[Fanatical Meat]

The whole it encourages green energy concept is silly.
Here is what matters. You & I pay more on our electric bill because some guy out there needs to use 100x the energy we use.
Energy is a market, more use mean higher costs.

 

[cytg111]

To be fair again… state sponsored currency, like the usd, sitting in the bank is not a zero watt game either… it costs *something* to run those servers and whatever periodic jobs necessary to keep it up to spec… add the co2 wasting meatbags/humans that maintains said machines etc etc. The env. footprint of the economical eco system is not nothing.
Just thinking out loud here.

 

[Fenixgoon]

To be fair again… state sponsored currency, like the usd, sitting in the bank is not a zero watt game either… it costs *something* to run those servers and whatever periodic jobs necessary to keep it up to spec… add the co2 wasting meatbags/humans that maintains said machines etc etc. The env. footprint of the economical eco system is not nothing.
Just thinking out loud here.

A friend of mine is a professor of environment and sustainability, and we were talking about cryptocurrency. I expressed my concerns over the significant environmental impact. She was a bit more optimistic about its potential, but agreed that there needs to be an evaluation of our existing financial system as well to get an actual comparison of the energy and carbon footprints of both.
All said and done I imagine existing systems will still be shown to be more efficient. The number of transactions handled is pretty insane.

 

[darkswordsman17]

To be fair again… state sponsored currency, like the usd, sitting in the bank is not a zero watt game either… it costs *something* to run those servers and whatever periodic jobs necessary to keep it up to spec… add the co2 wasting meatbags/humans that maintains said machines etc etc. The env. footprint of the economical eco system is not nothing.
Just thinking out loud here.

Thank you Captain Obvious.

But yes, that's the one positive is that because of cryptocurrencys' wasteful energy use, it is getting people to audit the energy use of other markets. I think there was a recent report that 5% of the world's power generating plants are responsible for some ridiculous like 70% of the world's emissions. I won't be surprised to find similar issues in certain markets. Heck, I won't be surprised if the speculative stock market is comparable in per capita emissions due to the number of a-holes in both that only care about money and are doing everything possible to be running computers at full tilt to try and get an advantage.

 

[LikeLinus]

Hacker returns all $610 million in cryptocurrency stolen in cyberattack - CNET.

Security!

 

[pmv]

So how many of you are pro-vax because of science and data (that you most likely don't understand), but are anti-crypto because you don't understand the science and data behind it?

Oops - the hypocrisy.

"Crypto" isn't a matter of "science", so much as sociology and economics.

 

[fskimospy]

"Crypto" isn't a matter of "science", so much as sociology and economics.

Also, his main problem is not that people don’t understand it, but that they do.

Disputing vaccinations means ignoring the science that they work. Being against cryptocurrency has nothing to do with disputing that crypto works, it clearly does! It is saying that crypto does a bad job of what it claims to do, and the thing it is genuinely more effective at (crime) is bad.

 

[cytg111]

Thank you Captain Obvious.

No problem Private Oblivious .

 

[Homerboy]

Absolutely SCREW crytpo.

 

[Lost_in_the_HTTP]

China says Nope!

https://www.courthousenews.com/china-says-all-crypto-transactions-illegal-bitcoin-tumbles/

 

[Shmee]

Absolutely SCREW crytpo.

You are an idiot. SCREW YOU.
Also the chinese govt. That is all

 

[Shmee]

Ok not quite all. Whatever happened to the bill that was the original point of this thread? What happened with the amendments?

 

[njdevilsfan87]

Ok not quite all. Whatever happened to the bill that was the original point of this thread? What happened with the amendments?

The Senate passed the bill without amendments. It still has the House to get through, but even it does the new rules won't kick in until 2023. There's a lot of time for new crypto regulations to be revised and even put in their own bill. It's in their own best interest, because as it is they're pretty much nuking a lot of taxable income they could receive from crypto if they let it go as is.

China says Nope!

https://www.courthousenews.com/china-says-all-crypto-transactions-illegal-bitcoin-tumbles/

Nobody cares. This is like the 17th time China has banned Bitcoin.

 

[Vic]

For whatever reason, cryptocurrency promoters can't see that they are the bubble in the current bull market. Everyone is looking at stocks or real estate as the bubble, and crypto will be the safe haven, but stocks and houses actually have intrinsic value. And cryptocurrencies don't. And are highly volatile.
I like a phrase they use on wallstreetbets, "If it's good enough to screenshot, it's good enough to sell." Excellent advice.

 

[DisarmedDespot]

For whatever reason, cryptocurrency promoters can't see that they are the bubble in the current bull market. Everyone is looking at stocks or real estate as the bubble, and crypto will be the safe haven, but stocks and houses actually have intrinsic value. And cryptocurrencies don't. And are highly volatile.
I like a phrase they use on wallstreetbets, "If it's good enough to screenshot, it's good enough to sell." Excellent advice.

Hey now, crypto has some intrinsic value. How else can ransomware gangs make a fortune without it?

 

[Shmee]

Ok thanks for the answer.

 

[darkswordsman17]

You are an idiot. SCREW YOU.
Also the chinese govt. That is all

Well if this post doesn't succinctly sum up crypto fanatics and their arguments on here. You clowns really can't help it can you?

I'd print it out on some TP but frankly its not worth wiping my ass with.

 

[Shmee]

Well if this post doesn't succinctly sum up crypto fanatics and their arguments on here. You clowns really can't help it can you?

I'd print it out on some TP but frankly its not worth wiping my ass with.

You are a clown.

 

[soundforbjt]

The only people “jacked” about crypto are those heavily invested and are speculators. The rest of the world couldn’t care less.

 

[fskimospy]

Hey now, crypto has some intrinsic value. How else can ransomware gangs make a fortune without it?

Exactly. Crypto has one big advantage over regular currencies - committing crimes. It otherwise is useless.

 

[Lost_in_the_HTTP]

Ban it. All of it. Everywhere.