this post was submitted on 15 Jul 2024
243 points (98.8% liked)

Technology

59623 readers
3159 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
243
US Government Launches New Attempt to Gather Data on Electricity Usage of Bitcoin Mining (insideclimatenews.org)
submitted 4 months ago by [email protected] to c/[email protected]
33 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 27 points 4 months ago (2 children)

I wouldn't consider cryptocurrency an industry. At best, it's unregulated stocks whose value is backed by speculation. At worst, it's a waste of resources and a low-risk way for malware authors to profit off of victims.

Don't get me wrong, though. AI is also deserving of the same treatment.

[–] [email protected] 17 points 4 months ago (1 children)

Note that the second-largest cryptocurrency, Ethereum, no longer uses proof-of-work to validate its chain. So any regulations or data on electricity usage will be basically irrelevant to it.

[–] [email protected] 7 points 4 months ago

Hopefully other crypto follows suit.

[–] [email protected] -1 points 4 months ago

Would you consider finance to be an industry? Because crypto is the same thing without the legalized grift.