His work is informed by lessons learned from the early NFT backlash. Even if we understand in some vague way that crypto is bad for the environment, it’s important to have hard, current data to back it up.
The oldest consensus mechanism, known as “proof-of-work,” is structured as a kind of race between all the computers in the network: The first to crunch enough numbers and solve a complicated math problem is rewarded with a certain amount of the blockchain’s native token. It uses by far the most energy of any mainstream consensus mechanism, and is also the most popular. Bitcoin, Etheruem, Dogecoin, Monero,and Zcash all operate this way.
I made the NFT activity one first, directly in response to Nic [Carter’s] bounty. Nic's bounty came about because there was a lot of discussion around that time about the emissions of art NFTs. This all started with Memo Akten releasing hisNFT emissions calculator, and then people started using it not just to check on their own emissions but to shame other artists for their emissions. And there are some problems with Memo's calculator.
I saw that and I thought, to have this discussion we need to have some kind of trustworthy source. Where are we going to find that? The question about the GPU mix is actually a little more direct, in some ways. There's two services I looked at for that. When you register your workers with Nanopool, they actually publish your “worker” IDs publicly. So, if you go into your Ethereum farm and you name your workers “3070-row one-column three” or something, then I can go in and see they're using 3070 GPUs to do this mining.
It turns out the reason they don't do that is because it's expensive. But if you get the government to make people do things that are slightly more expensive, it turns out it doesn't necessarily end their whole operation. It can be a net benefit for everybody.I also have to admit, like, yes, bitcoin is a controllable load resource [CLR]. Yes, it has actually added capacity to the West Texas grid in the winter, when they turned it off.
I think the crypto project in general is about being free from regulation and oversight. And I understand that, I understand that feeling – I don't want to have a boot on my neck either. But the extreme vision of that gets into this zone where no one is accountable to anybody anymore, and we're not really listening to each other about what we all want the future to be, or crafting it together. It's just sort of giving up to market forces. And I'm not resigned to that.
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kcimc lil_smush FoundryServices Seriously? This is 2022. NFT artists no longer have to chose between climate impact & minting art What is blockchain? Changing the status-quo, making a difference, reaching unbanked, solving 🌎 problems. Blockchain should be for the 99% (not the top 1%)... and green green green
Bitcoin continues to operate exactly as designed,all without a leader or asking for anyone's permission. Bitcoin is on the cusp of a new macro uptrend right now I’ve been following dubaifxmoon tweets and predictions seriously and I’ve been holding firmly all thanks to him
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