Greening Bitcoin with Incentive Offsets | Hacker News Reader

Greening Bitcoin with Incentive Offsets

resistance.money

2 pointsdjschnei10 comments

Like coal mining companies buying "offsets". Greenwashing.

Didn't read it, did ya?

Or if you did, I assume you think all electricity usage is bad?

The point is that all electricity used mining cryptos could be better used elsewhere, regardless of where that electricity comes from. Cryptos need to move off of wasteful consensus algos.

OP link looks like more crypto garbage pieces

So you didn't read it either, huh?

The point is, we need more electricity to save the environment. EVERYTHING needs to be electrified and our infrastructure is not even close to up to the task. Bitcoin mining has incredibly unique incentive structures which could be gamed to accelerate green energy production and development. There is no other use of energy on the planet with the same properties that can fill the role. We need Bitcoin to use MORE energy!

These are highly unintuitive ideas. I don't blame you for taking headlines at face value and regurgitating them - they make sense at the surface.

I challenge you to read the white paper and listen to the author explain his stance, then tell me where he's wrong.

https://www.youtube.com/watch?v=bFYKq5Qe1Bs

They are not unintuitive ideas, I'm not going to waste my time on them. I challenge you to step outside the confirmation bubble that envelops crypto to consider the criticisms with an open mind.

Your criticism didn't address any of the points made by the white paper (in fact you ignored them). I am more than willing to engage outside of my bubble (I'm seeking it out to be honest), but we have to be discussing the same thing in good faith.

My bubble: Bitcoin's energy consumption (which is high) has interesting properties which we believe will encourage and support clean energy development for reasons X,Y,Z

You: Wrong. Bitcoin uses too much energy.

My Bubble: But our points are directly addressing that energy usage...

You: Nope. Wasteful.

Because I've explored them before and you don't have any new points. You make the assumption I did not look at the white paper, but you are wrong on this too.

There is no productive conversation to have here

that's too bad. You told me to get out of my bubble, but then won't give me your opinion. Would love to hear your points if you decide it's worth it. If not, have a good weekend!

This is why I regretted even making a comment in the first place.

People twist themselves into knots trying to justify the unjustifiable. The "trust" mechanism Bitcoin uses is hugely wasteful, with very small tangible (rather than hypothetical) benefit.

You're stonewalling what could otherwise be a beneficial discussion. If you addressed the points made and explained why they don't justify my perceived benefits, maybe I could learn something from you. But you would rather make a snarky comment, ignore the arguments made, then say it's a waste of time... Too bad, really. Have a nice weekend!

There is also the possibility the author would teach you something, since he started with the exact same position you have. At the very least wouldn't it be interesting to see why he had a change of heart (whether it be greed, wishful thinking, or maybe something you haven't considered)?

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