Nostr Web Client

I should have known...

Replying to

Chris Liss

only someone on the far right would say that

Nah, it's a catchall for discrediting anyone without actually going to the trouble of dismantling their arguments.

In my country, while we were under communism the equivalent was the phrase "the people's enemy". Once you were labeled with that, you were effectively an outcast and would leave the country, if you got lucky.

If you weren't you got a "fair" trial and were shipped to an island called Naked island where you'd be breaking rocks the whole day, every day.

By the end of the 80s that term was thrown around in tandem with several others, but by that time it was so overused nobody gave a single shit about it. The "far-right" label is reaching the same point.

Replying to harq

I think he worded it awkwardly and that wasn't what he meant.

Maybe the meaning is that the L1 blockspace would be enough for just the biggest txs that will ne able to afford it.

My explanation wasn't any better, so let me try again.

The L1 blockspace would be enough just for the whales, institutions or countries to transact on.

Not 1 transaction/block, but just the most valuable txs would/could be done on L1 due to the costs.

Replying to

no₿ody™ 🧱

So you’re saying future, more advanced tx’s could be so data heavy that maybe just one (or not even one) would occupy the entirety of today’s block size?

I think he worded it awkwardly and that wasn't what he meant.

Maybe the meaning is that the L1 blockspace would be enough for just the biggest txs that will ne able to afford it.

Replying to

Mike Brock

I don’t think I missed this point? I was talking about the electrical generation and transmission infrastructure.

I was under the impression I was replying to someone else. New to nostr, not really getting who I'm answering to on what.

Replying to harq

Efficiency improvements have been happening the whole time and energy expenditure isn't going down.

Why do you think that is?

Asking this question reveals the lack of understanding about the topic.

If somebody invented an ASIC that is so powerful that just one machine replaces the entire current hashrate, what do you think will happen?

Will everybody except that one guy with that one ASIC just stop mining and leave OR will they try to get a few of those as well?

The limiting factor, in todays world, is energy.

Replying to House_of_Lewis

So, if someone could figure out some big leap that reduced the energy expenditure, then that could reduce network security?

Efficiency improvements have been happening the whole time and energy expenditure isn't going down.

Why do you think that is?

Replying to House_of_Lewis

I’d side with #[2] here. And I’m not saying any government should actually dictate how much energy bitcoin miners consume. The real point is that lots of energy has been used for bitcoin mining and so that process is not at all efficient.

Let’s pretend we all stopped eating food, heating/cooling our buildings, watching sports, browsing social media, lighting our spaces, buying & building stuff, and going places. And we did that to the point that the only energy consumption was for mining bitcoin. Seems to me that world would be exactly the opposite of what we want for humanity.

New technologies should be reducing the carbon footprint, not increasing it. We need to find a way to increase the efficiency.

You completely missed the point of bitcoin mining. The energy expenditure is the main factor that keeps the network secure.

ASICS get more efficient all the time and hashrate keeps going up because of it, but the thing that should be looked at is energy expenditure. That's the real cost of network security.

Replying to

🐢

Except they aren’t, they are high use consumers.

This is a significant difference from the majority of electricity consumers, and is more akin to industrial users.

High electrical use can strain electrical infrastructure and reduce reliability of the whole grid. Ie-increasing wear and tear on transmission lines, transformers, switches, and limiting their lifespan.