Is there a law that describes how the rapid growth in renewable energy is outpaced by the growth in the dumb ways we think of to use that energy?
@davidho I propose “Law of #crypto finance”, where medium-size country budgets of energy are used for literally nothing else than to get “proof of work”.
And all this is then covered in #greenwashing bullshit that all the #bitcoin fanbois are consuming without questioning it, and regurgitating said bullshit to no end when challenged on their planet-wide destruction to get a few bucks.
@mennodeij but that's not what's happening with Bitcoin, though, despite all of the breathless sensationalized stories written about it.
It's just factually not how Bitcoin works.
@wesselvalk No, not by design, and that's the point.
Bitcoin was designed to be agnostic as to the rewarding process per joule of energy. Tomorrow if people decided Bitcoin wasn't worth the energy and they stopped exchanging energy for the chance to get bitcoin, the network would react by lowering the difficulty level.
Because it wasn't designed with an increasingly less rewarding process per joule of energy.
That people have decided Bitcoin is worthwhile to exchange for energy doesn't mean bitcoin requires that energy. It just means bitcoin is valuable.
@volkris @mennodeij @davidho It actually is. Bitcoins need to be mined, and by design this is an increasingly less rewarding process per joule of energy.