Chia, a cryptocurrency intended to be a “green” alternative to bitcoin has instead caused a global shortage of hard discs. Gene Hoffman, the president of Chia Network, the company behind the currency, admits that “we’ve kind of destroyed the short-term supply chain”, but he denies it will become an environmental drain.
The green alternative to bitcoin is fiat fucking currency. Banknotes and coins, maybe in your bank account.
@cadadr no one has heard of it, the article is fake and an ad to pump that coin... fallen for it?
@cadadr It's almost like the more efficient, humane solution to an environmental or flow problem is to look at what was invented when people had to do the job manually. I feel like traffic lights are getting a bit of backlash, since they're less reliable, more dangerous and use more energy (for both the operation of the intersection and traffic through it) and fuck up traffic more than the 18th century solution: The roundabout.
@cadadr How on Earth is a currency that not just encourages, but requires, infinite economic growth and consumerism, regardless of level of development and comfort, in any way a "green" alternative to a hard savings technology that uses less electricity than clothes dryers in the U.S.? What an absurd statement.
@BalooUriza @cadadr Strongly disagree that it's about an -ism and not about the money, and that it's the case with a monetary system where issuance isn't based on debt. In any case, it's an absurd statement, considering the easily observable over-consumption, low time preference, and forced casino gambling to retain savings, in the current inflationary fiat system.
@BalooUriza @cadadr ... not even mentioning the obvious flaws in the argument when it comes to energy consumed by the fiat system, its hundreds of thousands of skyscrapers full of people, its millions of ATMs, its need for armies and wars to retain US dollar hegemony, and so on and so forth. It's already absurd just considering the point I first mentioned.
@raucao And yet despite using three times as much electricity as cryptocurrency overall, it's handling 99.9999999% of all transactions. I don't have to use basically the same amount of energy as a 1980s pickup truck has used over its entire lifetime to date to buy milk, I can just hand the cashier a specially marked scrap of paper.
@raucao Ooh, so close to realizing that it's about underregulated capitalism screwing us. Especially considering the intentional devaluation baked into most blockchain systems is literally the same problem whilst also making it next to useless for nonspeculative (ie, real world) transactions.
@BalooUriza @cadadr Btw, currency is not the same as money. Even if the USD is an OK currency, it has become bad money. Bitcoin is good money tech, but the layer 1 is bad as transactional currency, so we're building layers on top of it for that use case. These are important distinctions, because just because people accept your paper easily doesn't mean it's good money.
@BalooUriza @cadadr Failed again. It might be OK currency tech, but it's shitty money, because it's still reliant on criminal bankers and infinite debt. Sorry, but that's just about enough time for me to invest in explaining it to you. If you're not open to actually consider my points, then agree to disagree. Have a nice day.
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