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21 hours agoDon’t engage with these ignorant assholes man, they are all in banking’s pocket.
Shit you got me, you ruined our perfect psyop!
I joined Lemmy back in 2020 and have been using it as qaz@lemmy.ml until somewhere in 2023 when I switched to lemmy.world. I’m interested in systemd/Linux, FOSS, and Selfhosting.
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Joined 2 years ago
Cake day: June 10th, 2023
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fiat ecosystem (including mining, storing and transport of gold)
Gathering / transporting valuables is not a part of the fiat ecosystem. The value of fiat currency does not depend on any underlying materials (like gold, silver, etc.) like the currencies before.
It’s not quite the same as a traditional cryptocurrency but I look forward to seeing the results of the EU trial
Yes. It was an amazing proof of concept, but it has been surpassed on all fronts.
The ASICS also produce e-waste, the electricity could have been used for other things, and the energy use puts more strain on the energy grid when that is already an issue in many countries.
The current systems used by VISA use significantly less energy compared to PoW cryptocurrencies such as Bitcoin
Ethereum was able to cut their energy usage down drastically by moving away of PoW. Windmills and clean energy aren’t the solution, getting rid of PoW is. Why build more solar farms if you could just not use so much electricity?
Yes, but that still means that the other half is fossil fuel.
Bitcoin mining’s distribution makes it difficult for researchers to identify the location of miners and electricity use. It is therefore difficult to translate energy consumption into carbon emissions. As of 2025, a non-peer-reviewed study by the Cambridge Centre for Alternative Finance (CCAF) estimated that bitcoin consumed 138 TWh (500 PJ) annually, representing 0.5% of the world’s electricity consumption and resulting in annual greenhouse gas emissions of 39.8 Mt CO2, representing 0.08% of global emissions and comparable to Slovakia’s emissions.
I think people should really reconsider using PoW cryptocurrencies. Ethereum was able to reduce their energy consumption by 99.95% by switching to PoS and it’s still doing fine. IMO Bitcoin is outdated technology that is just used as a pyramid scheme due to its name recognition.
Assuming that Trump fires Powell
Perhaps, but bitcoin isn’t exactly the best example of that.
Mostly yeah, but AFAIK it did have additional privacy advantages