I don't know, @patio11 who's quoted on the link keeps attacking bitcoin all the time. Equally annoying are people who keep praising bitcoin all the time by the way. Bitcoin may or may not succeed but people who keep predicting it will fail are just as tiring as people who keep saying it will save humanity and get rid of all the ills.
> The technology is not being ridiculed
I could find you plenty of people ridiculing cryptocurrencies on twitter everyday. This site is just another example.
In your opinion I’m probably one of the people attacking bitcoin.
And yes, I would like them to completely disappear.
People are just wasting an enormous quantity of energy in an unregulated lottery in which they are almost always guaranteed to lose.
Can you please tell me a good reason why I should not oppose crypto currencies and all the similar “scams”?
Plese don’t answer with Proof of stake or other shenanigans if we want to be evaluating this phenomenon in an honest way.
Unless I missed something proof of stake is translated to “who has more money can print the biggest percentage of new money”, but I didn’t really follow all the variations of this philosophy.
Not sure what you're talking about, Bitcoin is way more energy efficient than any fiat currency:
"Still, it’s important to put things in perspective. A recent report suggests that at current prices, Bitcoin miners will consume an estimated 8.27 terawatt-hours per year. That might sound like a lot, but it’s actually less than an eighth of what U.S. data centers use, and only about 0.21 percent of total U.S. consumption. It also compares favorably to the currencies and commodities that bitcoin could help replace: Global production of cash and coins consumes an estimated 11 terawatt-hours per year, while gold mining burns the equivalent of 132 terawatt-hours. And that doesn’t include armored trucks, bank vaults, security systems and such. So in the right context, bitcoin is positively green."
Bitcoin is only a microscopic fraction of the whole fiat currency that is around, processes an even more abysmal fraction of the total transactions per day and it uses basically the same amount of energy as the whole global currency production as per your post.
Ah, and this energy cost will only go up because of the increase in difficulty.
It’s like saying that 10000 people that for a living are destroying the Amazonian forest are positively green because they do less harm than the whole coal burning that happens in the world.
Honestly I can’t wait for the day when this cancer for the whole humanity will disappear.
> The technology is not being ridiculed
I could find you plenty of people ridiculing cryptocurrencies on twitter everyday. This site is just another example.