In other words, US is the #1 backer if imaginary assets which are also the best trick used by major multinationals to shift their tax burden. In order to solve this problem US does not get rid of imaginary assets but raises the tax on the world.
Sure, so the competitive advantage of poor countries will be what -- low wages?
Remember just yesterday the same thread from dailymail was remove from YCombinator.
This site is censored to the gills. You can talk all you want about tech stuff, but don't cross the boundaries. That is, until it hits a major paper and then perhaps it can't be ignored.
It doesn't annoy me at all. Your attitude annoys me.
Who cares how much energy it uses in aggregate. That energy is paid for. If we are under such an energy shortage problem then I assume individual countries will start rationing it out or switching to renewables or whatever.
It's such a weird attack angle that seems to have latched on some people's minds like glue. Did we ever look at the aggregate impact of every thing in the world? What is the aggregate impact of Facebook? What is the aggregate impact of gas cars? What is the aggregate impact of lawn mowing world wide? What is the aggregate impact of smoking?
Like... of all the things.
It's a global system that runs non-stop, world wide. It would be quite remarkable if it didn't use energy.
This environmental impact of crypto is like a virus that spreads and spreads. A meme if you will.
The industrial revolution was also bad for the environment. And it's the single most important reason why we are arguing across countries now in home using cheap devices made in China.
So, just drop the environmental impact. Geez, makes me want to buy BitCoin just to spite you.
I was routinely ask to search the same thing as a colleague. And I regularly got better answers since I trained my bubble on technical queries. While the other person had more interests and Google returned varied results.
So, if you get a hobby in landscaping, don't ruin your search bubble by polluting it with that.
I think it won't be long until this tech will be used by banks because it seems to work rather well.
As for a benefit, if you consider crypto as a mode of protest alone it has value.
People are allowed to smoke and destroy their health (and of those nearby), people are allowed to gamble, people are allowed to buy to biggest truck that pollutes to no end. How is that legitimate and how does that benefit more to society?
It's a weak system one that works only when it has no competition.
I'd say the current banking system does an excellent job at money laundering and most major companies seem to play the tax system like a fiddle as to pay less taxes than a fast food employee.
So, what's left? Oh, the climate. Where to even begin here? Call me when hash function workers create smog in a small city. Until then, our industry seems quite capable of killing the planet by itself.
It's better for the world long term if people that care about it are not poor. So, do make money and improve the world in other ways. Clearly you can offset with good deeds whatever energy will be wasted.