[tor-dev] Cryptocurrency: Total Energy Analysis - Crypto Uses Less Than Fiat

[Hans-Christoph Steiner]

I was an early proponent of crypto currencies, but now it is clear to me
that they do more harm than good by a long shot.

And this is really off topic for this list.

.hc

grarpamp:
> (from tor-dev: PoW DoS defenses Prop 305: INTRO Cell)
> 
> On 6/16/19, Chelsea Holland Komlo <me at chelseakomlo.com> wrote:
>> Given the significant environmental impact of POW in other distributed
>> systems (blockchain), we should not implement schemes that solve a
>> problem for Tor but create problems for people elsewhere (potentially
>> irreversible environmental damage).
>>
>> https://www.theguardian.com/technology/2018/nov/05/energy-cost-of-mining-bitcoin-more-than-twice-that-of-copper-or-gold
> 
> One must first understand and enumerate the *entirety of all global energy
> inputs* going into and making up the legacy fiat currency banking systems,
> from both Government and Corporate sectors, and its results, before
> attempting to make any claims that cryptocurrency is "worse" [1].
> Such cataloging and analysis requires more work, more data, more actual
> redpill thought, than just simple hashrate/J/$... so of course people take
> shortcuts in such articles, as do other people in their pronouncements
> stemming from them.
> 
>> Other less-destructive schemes exist to prevent DoS attacks. POW is a
>> method, not a goal in itself. Taking a step back and examining the full
>> spectrum of available tools would be better.
> 
> The needs and model for overlay nets, ie tor, will of course be
> different than those above.
> And always interesting where tech various ends up being applied.
> 
> [1] Hint: Cryptocurrency actually consumes less, and further finally forces
> inefficiency and other undesired things out of Fiat by displacing it...
> hopefully faster than it can adapt. Some say that has a value, one that
> many will be quite happy to sink a bit of premium into if need be.
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