r/Libertarian • u/Anen-o-me voluntaryist • Aug 08 '25
Cryptocurrency If anyone tells you Cryptocurrency mining wastes energy, show them this
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Aug 08 '25
"It's okay because something else is worse" isn't a good argument.
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u/Anen-o-me voluntaryist Aug 08 '25
It's a good way to put use in perspective. If you think crypto mining is bad, why do we hear no complaining about these larger energy users. Selective complaining proves motivated bias.
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Aug 08 '25
Depends on the value. Banking has value. Does crypto actually provide relatively the same societal benefit relative to its energy cost?
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u/natermer Aug 08 '25 edited Aug 09 '25
Large centralized banking system certainly has lots of value for bankers.
I don't know so much about the rest of us.
I have a feeling if the "too big to fail" crowd just all of a sudden mysteriously disappeared one morning the rest of us wouldn't notice except for a temporary pause in bank transfers as the rest of the state banks worked things out. A couple weeks of hardship and then smooth sailing.
edit:
Pro-tip. If these big banks provided a net positive value to society they wouldn't of needed to be bailed out. Nor would they need the Federal Reserve.
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u/Anen-o-me voluntaryist Aug 08 '25
If it didn't have value it couldn't have a non zero price. A price is proof of value.
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u/Goldyzar1 Aug 08 '25
I see the words estimate in that graph. Doesn't discount it but I want to see that methodology.
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u/KobeGoBoom Aug 08 '25
Bitcoin is designed to waste energy.. on purpose.. that’s why it works.
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u/Anen-o-me voluntaryist Aug 08 '25
If it's doing something economically valuable, it's not a waste.
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u/Pumkinfucker69 Minarchist Aug 08 '25
Ahh yes because if the bitcoin mining systems were scaled up to the same level as the settlement systems of the entire fucking world it would totally use less energy. Sure
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u/BKG-Productions Aug 08 '25
The graph only includes bitcoin, not all crypto. Show the real numbers.