Monday, May 23, 2022

DW Planet A and SciShow address the environmental costs of cryptocurrencies

I hinted at my mixed opinion of cryptocurrency in CNBC, The Hill, and Forbes report on the impact of cryptocurrency on the midterms.
I've only mentioned Bitcoin twice on this blog, both times in the context of crime and cybersecurity, although the first time also involved shopping. The same is true of my previous mention of cryptocurrency in general. That's not a great reputation...
Another issue I have with cryptocurrency is its environmental cost. I'm sharing two videos that address that concern and explain how to fix it today, beginning with DW Planet A asking Can Bitcoin clean up toxic waste?

Some new players in the crypto space are using bitcoin mining to clean up toxic waste. So is it possible to “green up” bitcoin’s dirty track record? Can mining digital currency ever actually be good for the environment?
This is a good overview of the environmental problems caused by mining crypto, including efforts by the crypto miners to make their mining at least look more sustainable. That ranges from actually making the process greener to mere greenwashing.

SciShow concentrated more on "proof of work" vs. "proof of stake" when it asked a similar question in Crypto and NFTs Are Environmental Disasters...But Do They Have to Be?

The world of cryptocurrency and NFTs is riddled with controversy, but somewhere amid all of that blockchain there's some reckoning with reality that must be done.
SciShow explained the technology better than DW Planet A, while the latter explained the environmental issues more thoroughly. That's why I embedded both videos.

Both videos also relate to Commoner's Laws: There is no free lunch, there is no away, everything is connected to everything else, and nature knows best, which appears in the first video, relying on renewable energy and energy from waste, as there is no waste in nature.

With this entry, I've addressed one more of the "litany of unpleasant realities" that were "also a list of future blogging topics" from Weekend Update compares this week's headlines to 'Mad Max' on last night's 'SNL', cryptocurrencies. That's now three down.

No comments:

Post a Comment