I have yet to encounter a problem in technology or any other industry that is solvable only by a linked list of British Thermal Units.
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I probably don't want the people currently hyping blockchain be given any responsibility in solving real problems. They'd probably solve world hunger by killing all humans.
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"Bitcoin takes a shit ton of energy" "Solution! Move to where electricity is cheap."
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I'd settle for them not being actively wasteful. If they sat around playing games all day, it wouldn't be wasting the electricity output of a small country.
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I don’t think I want the people who put their brainpower into cryptocurrency to try to solve actual problems. Doesn’t seem like good outcomes there…
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Problems don’t get solved under capitalism except maybe by happy accident, they get turned into “opportunities”
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It's sort of ironic because literally back in the day you would have these great video games but some people would just spend all their time grinding instead of exploring the world and now they've literally set up a whole industry using a promising tech to do just that.
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Blockchain is now pretty established and it has all of these great applications. It's probable that it could be made a bit more energy efficient but in the current model there's actually a disincentive to do so as that lowers the overall value of the currencies.
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Or even putting the CPU/GPU cycles to use doing something helpful, like folding@home
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My autocorrect turns that into crap to currency. If only! If we got the energy by turning crap to biogas and burning it, at least that'd cut some methane emissions.
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Tell that to the two thirds of the world that are unbanked because their sector isn't profitable or the infrastructure isn't good enough. Not that I think bitcoin solves that, but the concept can and people struggle to detach them.
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Those people use normal money
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High corruption & inefficiency in cash. Digital currency and branch free banking has already caught on in many parts of Africa, including Kenya & Tanzania for this reason, but is costly & requires a middleman with a monopoly which could be removed.
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It’s cheaper and more efficient to just have a trusted third party do the bookkeeping than burn a small nation’s worth of power and two real-time hours to buy a pack of smokes
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Well done conflating cryptocurrency with bitcoin. It's about the technology, not one implementation.
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I mean all your critiques of the alternatives were about implementation
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That's because we should use the best implementation for the problem, that adds the most value. Digital-only currency without banks is the future, and even the present, in some parts of the world, and any attempt to increase its efficiency or value should be welcomed.
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Throwing blockchain at a problem isn't what I'm suggesting, but using distributed ledger technologies to add value to the chain & remove inefficiency is a good thing. Augmenting, not replacing.
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They would say not being able to buy drugs and guns online is a problem.
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