I agree with everything you’ve mentioned here. TBH, I’m surprised that energy consumption was not brought up when it comes to heavier reliance on blockchain and crypto.
Seems like the primary pain points are, as you mentioned, capitalism and a premature tech fear. Environmental impact is just such an easy point to make here, it seems weird that it’s never brought up in the original post
I agree, however I am hopeful. Majority of the ‘proof-of-work’ mining for Bitcoin comes from renewable energy. But it does create unnecessary wastage.
There are other other eco-friendly blockchains that use a ‘proof-of-stake’ model, where excessive mining is NOT required. Ethereum, the second largest in market cap (‘value’) is currently migrating to this model. And there are many other new blockchains coming out such as Solana and Avalanche which is efficient (enough), with proof-of-stake and other hybrid technology from day one.
I agree with everything you’ve mentioned here. TBH, I’m surprised that energy consumption was not brought up when it comes to heavier reliance on blockchain and crypto.
Seems like the primary pain points are, as you mentioned, capitalism and a premature tech fear. Environmental impact is just such an easy point to make here, it seems weird that it’s never brought up in the original post
I agree, however I am hopeful. Majority of the ‘proof-of-work’ mining for Bitcoin comes from renewable energy. But it does create unnecessary wastage.
There are other other eco-friendly blockchains that use a ‘proof-of-stake’ model, where excessive mining is NOT required. Ethereum, the second largest in market cap (‘value’) is currently migrating to this model. And there are many other new blockchains coming out such as Solana and Avalanche which is efficient (enough), with proof-of-stake and other hybrid technology from day one.