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Discussion | Aren't you worried about #Bitcoin energy usage and the climate change? Shouldn't proof-of-stake coins be suggested instead?
https://github.com/privacytoolsIO/privacytools.io/issues/798
@BurungHantu if the price of electricity reflected it's true cost to society (i.e. the cost of pollution) and not just the cost to produce then it would be a very different situation that is what i mean by it's a price signalling problem in the market
@haxonhaxoff @BurungHantu so then what would the effect be on bitcoin of the price of electricity would be much higher ?
@mcread
It may no longer become profitable to mine it, which would cause bitcoin to lose it's backbone.
@haxonhaxoff @BurungHantu
@BurungHantu it's a price signalling issue. the problem is not that bitcoin is energy intensive it's that electricity it too cheap and does not account for externalities in it's pricing mechanism so as a result we see oversupply