• Skua@kbin.social
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      9 months ago

      can always just pump up more oil out of the ground.

      No, this is actually exactly the fucking problem

    • Eager Eagle@lemmy.world
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      9 months ago

      You mean proof of work? And I disagree, Ethereum moved from PoW to PoS and gained market cap since then. The high costs are just a consequence of the consensus mechanism in use.

    • adrian783@lemmy.world
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      9 months ago

      bitcoin has got to be invented by an alien or something so that we would terraform for them…

      • Alex@lemmy.world
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        9 months ago

        Probably just a fool thinking free fusion energy was just around the corner

        • wizardbeard@lemmy.dbzer0.com
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          9 months ago

          It’s more that it was originally a theoretical white paper meant to present a potential solution for a very specific problem space. Energy use wasn’t a consideration in the design, because that wasn’t part of what it was meant to address. Likewise, anonymity in the sense of hiding transactions wasn’t part of the design either, besides avoiding centralized banking’s requirement that every “wallet” is associated with a government ID.

          It was a fun toy meant as a proof of concept solution to centralized banking.

          Eventually market speculators saw what the nerds were getting up to, got some ideas, and everything freaking exploded. It wasn’t meant to drive speculative markets.