Technology

59707 readers

5420 users here now

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

Our Rules

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

Approved Bots

founded 1 year ago

MODERATORS

989

Just 137 crypto miners use 2.3% of total U.S. power — government now requiring commercial miners to report energy consumption (www.tomshardware.com)

submitted 9 months ago by [email protected] to c/technology

360 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] merdaverse 5 points 9 months ago* (last edited 9 months ago)

Proof of work is not even scalable to the level of current bank transactions. Ethereum network didn't have enough compute to clear the backlog created by some niche cat NFT "game" a few years ago when people still gave a shit about NFTs.

Limited purchasing power of the poor and middle class is a political problem, not a problem solved by tech, no matter what crypto gurus and tech messiahs will tell you. The most prolific crypto miners are the ones that already have more "traditional" capital to invest. So crypto is not solving the wealth divide, it is just making it worse.

I hate banks as much as anyone, but crypto is not the solution.