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Pinboard

@Pinboard

Do not attempt to compete with Pinboard. http://pinboard.in  maciej@ceglowski.com +1 415 610 0231

Boulevard of broken dreams
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    1. Pinboard‏ @Pinboard Sep 5

      Pinboard Retweeted NYT Climate

      I hate Bitcoin as much as the next fellow, but this is a dramatically-phrased way of saying the impact of Bitcoin on climate is inconsequential. It's plastic straws all over again.https://twitter.com/nytclimate/status/1434274367911956481 …

      Pinboard added,

      NYT ClimateVerified account @nytclimate
      By simply existing, Bitcoin, the most popular cryptocurrency, uses astonishing amounts of electricity. The Bitcoin network consumes around 91 terawatt-hours of electricity annually, more than the country of Finland. https://nyti.ms/3mYsfkS 
      8 replies 7 retweets 44 likes
      Show this thread
    2. Nicholas Weaver‏Verified account @ncweaver Sep 6
      Replying to @Pinboard

      Except: 1: A stable doubling of the price -> doubling of power consumption. And this is unfixable by design 2: This is already a significant single global source. There aren’t many single sources this big 3: The net marginal power that Bitcoin uses ends up being fossil fuels.

      1 reply 0 retweets 8 likes
      Pinboard‏ @Pinboard Sep 6
      Replying to @ncweaver

      I think there are powerful arguments against Bitcoin on the ground of wastefulness alone, which is why I find it frustrating to drag in climate. Why weaken such a strong argument, is my point.

      7:56 AM - 6 Sep 2021
      • 1 Like
      • Jano Suchal
      3 replies 0 retweets 1 like
        1. Magister and Technological Lich‏ @KirinDave Sep 6
          Replying to @Pinboard @ncweaver

          The only reason that Bitcoin's wasteful nature is currently relevant is precisely because of Nicholas's point 3 above. If Bitcoin actually were a leading buyer of sustainable energy and its miners funded infrastructure, then I doubt many folks would care about the wastefulness.

          0 replies 0 retweets 0 likes
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        2. Nicholas Weaver‏Verified account @ncweaver Sep 6
          Replying to @Pinboard

          Because this is the externality imposed on the rest of us by that wastefulness. If the wastefulness was externality free, why should we care?

          4 replies 0 retweets 5 likes
        3. Sven Slootweg  🏳️‍🌈, but oh no it's october again‏ @joepie91 Sep 6
          Replying to @ncweaver @Pinboard

          And that is rightly how the general public reasons about it - why are you complaining about wastefulness if it has no effects on the world? Which is why the climate messaging is so important here.

          0 replies 0 retweets 1 like
        4. End of conversation
        1. New conversation
        2. jeffburdges‏ @jeffburdges Sep 6
          Replying to @Pinboard @ncweaver

          We've a political opportunity or "wedge issue" to create investment externalities taxes on owning unnecessarily environmentally destructive assets. Initially, 1-2% per year from holders of proof-of-work crypto-currencies, but later investors in coal, oil, car and meat producers.

          1 reply 0 retweets 0 likes
        3. jeffburdges‏ @jeffburdges Sep 6
          Replying to @jeffburdges @Pinboard @ncweaver

          Yes, wealth taxes work poorly outside nations like Switzerland, so yes bitcoiners would flout holdings taxation, but.. It'd still force ETH, ZEC, etc. to finally adopt proof-of-stake, which shows a political victory. It'd also crashes the BTC price, which brings a reality check.

          0 replies 0 retweets 0 likes
        4. End of conversation

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