Nibodhika

Thanks for the correction, I've edited the comment, indeed that could be missinterpreted.

I'm surprised no one seems to have mentioned the Paradox of Tolerance. Essentially if you tolerate intolerance, the intolerants will eventually seize power and make an intolerant society, the only way a society can become truly tolerant is by being intolerant towards intolerance.

It's paradoxical, but makes absolute sense. If you allow Nazis to spread their ideology eventually there will be enough Nazis to be able to take the power by force, and when they do they'll setback all of the tolerance that was advanced. The only way to prevent it is by cutting the evil at the root and prevent Nazis from spreading their ideology.

Personally I believe that punching a person who hasn't tried to attack me or anyone is wrong. But the moment someone openly preaches that someone else must be exterminated they're inciting violence which can encourage others to act on it, to me, morally speaking, attacking that person is as much self defense as if they were commiting the act themselves.

Would I personally punch a person because they're spewing hate? Probably not, I would probably try to talk to them and understand their point of view and try to convince them otherwise, since I believe that punching them would make the person close himself to any reasoning from outside of his group, which would make him more Nazi than before. But I also don't think it's morally wrong to do so, it's just not the optimal way of dealing with it.

Nope, never bought any of the NFTs that were sold to idiot speculators because I understand the technology and see no value in owning a token representing a digital image. I feel that the rage of downvoting comes from people who got scammed because they didn't understood the technology and now see it mentioned and think it's all a scam, similar to how old people used to think emails were a scam because they sent money to a prince in Nigeria.

Cool, I've been out of the loop on crypto for years, just checked and you are correct, now the full Ethereum network, capable of beating visa in TpS runs at 0.0026 TWh/yr, i.e. 1/100x of the energy consumption of PayPal, therefore proving my point above.

Did you read the link you sent? It clearly states that only the amount of miners matter like I said before, the amount of transactions has nothing to do with it, you're mixing the two.

The more people mine, the more decentralized it is

Wrong, decentralization is hard to measure, one person with a mining farm is centralized, while hundreds of people with their personal computer are decentralized but both produce the same amount of hash power. So you can have one person investing more and more in mining rigs increasing the total amount of mining power in the pool but decreasing it's decentralization.

the more energy is necessary because difficulty is increased.

Yes, this is correct, if you have more computers mining you will have a higher energy spending.

The more transactions happen, the more blocks are required,

Wrong, there's one blonc every 10 minutes, regardless of the amount of transactions that happen. Did you even read the link you sent?

the more energy needs to be spent to confirm all the transactions.

Wrong, the energy needed to confirm 1 or 1000 transactions is the same, and it's related to the hashing difficulty established by the total amount of hash power, again, did you even read the link you sent?

The more it's used, the higher the value, the more people mine.

Wrong, the value of an asset does not necessarily correlate with it's use, for example gold is more valuable than dollar, even though dollar is a lot more used.

There's a limit to the number of transactions per block as well, so no, your can't just say "1 or 1000 it's the same".

Yes there is, but until that limit is hit the amount of transactions doesn't matter. Also that limit is artificial and can be easily raised if needed, as it was done on Bitcoin Cash which can do hundreds of transactions per second more than Bitcoin, but because it has less miners uses less energy, thus proving you are wrong and the two are not correlated.

Visa is already able to handle 24000 transactions per second as is, no need for more infrastructure.

And ETH2 is theoretically capable of 100k, and that's just one coin which BTW is PoS so nothing of what we talked about miners applies to it. No miners means less power consumption by the network as a whole.

Crypto uses 1% of the world's energy production for a couple trillions in assets, the financial system uses 2.5% for quadrillions in assets, multiple thousands more than crypto, no, crypto can't scale to that without a huge environmental impact.

Do you have a source for that? But also you're measuring environmental impact as just energy consumption, and that's very wrong, by that same standard I could say crypto is green because it produces no plastic, whereas Visa has huge factories to produce plastic for their cards, their card machines, etc. If you only focus on one environmental impact it's easy to make anyone to be the bad guy, and for some reason people only see the Bitcoin energy usage and completely ignore that the energy consumption there is the whole story, whereas for other things there's hundreds of factors pilling on top to generate the environmental impact.

Yes you are trying to greenwash crypto, just stop.

Again, I'm not, I recognize that PoW is an energy hungry method of confirmation, however it's not the environmental catastrophe that the original comment said and if you take into consideration ALL of the environmental impact of alternatives (not just energy consumption) you will see that it's not as bad as people make it out to be. Which doesn't mean it's good, but it's far from an environmental catastrophe.

Also when you take into consideration that we were originally talking NFTs, and that's mostly an Ethereum thing, and Ethereum is migrating to PoS, it's even less of an environmental catastrophe.

Crypto energy usage goes up the more it's being used and the more decentralized it becomes.

That's wrong, crypto energy consumption has to do with how hard is the PoW difficulty, it does not correlate at all with usage or centralization, it's only related with security, i.e the more energy it consumes the more energy someone would need to use to attack the technology.

But the energy needed to mine 1 transaction or 1000 is the same. There are problems at scale, but power consumption is not one of them.

Centralized services like Visa can increase the network load while barely increasing the energy requirements.

Not really, they need more servers to process more transactions, but cryptocurrency can scale up much more easily because the whole infrastructure from consumer to miner is decentralized.

Crypto bros always forget that to replace the banking system, crypto would need to replace the infrastructure as well, but because of decentralization it would be less energy efficient for the same result.

That's what most people fail to see, the infrastructure for a scale at the size of visa is already in place for crypto. So there wouldn't be an increase in power consumption by mass adoption, only by miner adoption, and that's a difficult thought to grasp, it's like if everyone could borrow their computer to visa or Mastercard to process their transactions, the amount of people wanting to offer their computer to visa/master would define how much resources they use, but an increase in visa users doesn't mean an increase in visa borrowed servers and vice-versa.

You can just stop, there's no way to greenwash crypto and decentralization. The amount of transactions happening on all crypto networks at the moment could be handled by one server if it was centralized. There's benefits to it, stop trying to sell it as being green, it's not and never will be.

I'm not trying to green wash, but crypto is not the environmental disaster the person claimed, especially not when you take into consideration PoS and newer coins with different validation methods.

No, there isn't, but there are advantages to it as well, just like how a database has advantages over a paper folder.

An NFT can't be transferred by anyone other than the owner, and ownership can be verified independently.

Here's an example of a use that would be very cool and would take advantage of it (even though I know it's unlikely to happen). Ownership of games, some games are sold on different platforms, to verify the ownership of the game (or DLC, or cosmetics) games have to verify with first party services (like PSN or Steam), which means that for the most part you need to buy games on each platform individually, but if platforms used an NFT for it games would be buy once play anywhere, and they would allow you to sell or even borrow games, and no company could prevent you from doing so. Which is obviously the reason this will never happen, but it's a nice idea.

That being said there are downsides to it as well, such as a person being the full owner of stuff means that a person can lose the key and therefore lose access to the house, or that scammer can steal everything, whereas making you sign your house to someone else is a lot more beurocratic, which serves to protect you from you.

Just to be clear, I'm not a "we should use NFT for everything" type of person, in fact I don't think there are many use cases nowadays that are worth using it, but the technology is interesting regardless, and solves the problem of how to prove ownership without a centralized trusted organization.

There are some valid points here, and I agree that the energy could be used elsewhere and that green energy is not entirely green.

I even agree that for most cryptocurrency as they are now the cost per transaction is higher than alternatives. However the technology for cryptocurrency, especially with PoC can be a lot more efficient in scale. To get an idea of it you can look at Visa, which processes 1700 transactions per second, BCH can do 178, so 10% of it, ETH2 is supposed to be able to process at least 20k, so 10x that amount. I imagine either of those coins pollute a comparable amount to visa when you consider everything that visa needs to operate (machines, cards, servers, etc). I feel that people don't take these sort of stuff into consideration when they talk about the energy consumption of crypto. There is a discussion to be had here, but blankly stating that it's an environmental disaster is fear mongering.