Hashing solved a problem of limiting supply and spreading the work in a dynamic way to prevent takeovers.
Energy consumption would be dramatically less if ASICs weren't a thing. In hindsight it is obvious they would be built but give me a break.
What they accomplished was a decentralized balancing of power based on economics, crypto, and distributed computing. It is beyond remarkable.
So tell me, what is the carbon footprint of FedNet and all of the banks clearing the 3,000 tx/s demands and their collective datacenters...
What, you thought what we had today was free?
Are you aware that these numbers shared are not even 1% of the worlds consumption of energy or a quarter of what the us alone uses in merely datacenter costs!
I hate these fud charged articles with no balance, basis, or actual science.
> So tell me, what is the carbon footprint of FedNet and all of the banks clearing the 3,000 tx/s demands and their collective datacenters...
(a) whataboutism is a logical fallacy.
(b) If every Visa transaction took 625kWh, it would use 38X the entire world's power generation capacity and 3X the worlds entire rate of e-waste generation. Just Visa, not MC, UnionPay or Amex. Visa is literally 700,000X more efficient, and getting more efficient as technology does. Bitcoin becomes more wasteful as technology improves.
> I hate these fud charged articles with no balance, basis, or actual science.
A study from Cambridge University backs it up and is linked. Just because it doesn't agree with your preconceived notions doesn't make it "not science" all of a sudden. You could just be wrong.
Koomey says that de Vries’ work is “fundamentally flawed” because it backs into bitcoin’s power consumption by estimating miners’ revenues and expenses. “Any time you do that, you introduce multiple layers of error and uncertainty. It’s a completely unreliable way to do the analysis, and no credible energy analyst would ever do that.”
But of course you prefer this digiconomist spewing FUD as a hobby and winding folks up:
"Digiconomist's index has emerged as something of an authority recently. The index was developed by Alex de Vries, a 28-year-old consultant for PwC with a background in data and risk analysis who now specializes in blockchain, the technology that underpins bitcoin. He founded Digiconomist as a hobby in 2014 and acknowledges he has no previous experience in energy economics"
Energy consumption would be dramatically less if ASICs weren't a thing. In hindsight it is obvious they would be built but give me a break.
What they accomplished was a decentralized balancing of power based on economics, crypto, and distributed computing. It is beyond remarkable.
So tell me, what is the carbon footprint of FedNet and all of the banks clearing the 3,000 tx/s demands and their collective datacenters...
What, you thought what we had today was free?
Are you aware that these numbers shared are not even 1% of the worlds consumption of energy or a quarter of what the us alone uses in merely datacenter costs!
I hate these fud charged articles with no balance, basis, or actual science.