US government tracking the energy implications of booming bitcoin mining in US.

Over 2 percent of the US’s electricity generation now goes to bitcoin::US government tracking the energy implications of booming bitcoin mining in US.

  • fruitycoder@sh.itjust.worksEnglish
    203·
    9 months ago

    Honestly eth just made more progress between built in smart contracts and proof of stake, I’m surprised Bitcoin is still holding on. Sunk cost fallacy I guess.

    • linearchaos@lemmy.worldEnglish
      52·
      9 months ago

      I’m not an economist or anything, but I don’t think it’s a sunk cost fallacy I think it’s just a market. They’re all mining both. Just leaning heavier on whichever one makes them more money in the moment. The market is going to have a hell of a lot of inertia.

      • lad@programming.devEnglish
        51·
        9 months ago

        The market is run by people, and people have been proven not to be rational. So, sunk cost easily applies to the market

        • linearchaos@lemmy.worldEnglish
          2·
          9 months ago

          Come on, that’s logic 101

          All a are b

          some b are c

          all a are not c.

          You can’t even claim that most A are C with that logic

    • TypicalHog@lemm.eeEnglish
      17·
      9 months ago

      ETH has strong ties to CCP, no hard cap, is very broken and it’s PoS actually sucks ass.

      UPDATE: If you don’t believe me about the CCP ties, read some research by TruthLabs on Twitter.

    • Rooter@lemmy.worldEnglish
      413·
      9 months ago

      Yep, Ethereum uses less power than a debit/credit transaction or even a PayPal transaction.