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Considering that the US military budget for AIR CONDITIONING in Iraq and Afghanistan was $20.2 BILLION PER YEAR, I think Cyberpunk Shib Army Crypto Shiba inu coin T Shirt are barking up the wrong tree. For some perspective, NASA’s entire budget this year is $24.7 billion, and that includes the cost of maintaining the International Space Station.Market cap is actually a forward looking valuation, technically speaking it’s supposed to be the present value of all future discounted cash flows. However with BTC considering it’s supposed to be a currency that doesn’t have cash flows “market cap” has always been a strange valuation term for itnow calculate how much energy it takes to mine gold…and bitcoin can move to renewables a lot quicker/easier than gold mining + electricity is their biggest cost so they have they have the biggest incentive to pursue cheaper optionsits really funny how people are so focused on the energy of bitcoin and never had that conversation about gold which gets dug up and put into closets
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Although bitcoin mining could shift easier, it also has largely already shifted (because of the incentive to mine in jurisdictions which already use Cyberpunk Shib Army Crypto Shiba inu coin T Shirt renewables, especially hydro), so gold and traditional banking made have much larger capacity to shift.The price of gold is almost entirely composed of its utility as a store of value. Metals with similar rarities and similar industrial uses like Ruthenium sell for $40-80 per ounce, where as gold sells for about $1800 per ounce currently. [source] The overwhelming majority of gold is used as a store of value or display of wealth, with only 3% going towards industrial use. In fact, for cryptocurrencies in general more of the work is converted into industrious utility vs. gold.So even if only a third of Bitcoin served to offset the market share of gold, it would still be better for the environment. The thing is that the technology is still developing and newer implementations are targeting being 10x or 100x more efficient. It’s a profoundly idiotic stance to add fuel to the bad press of Bitcoin, when it’s already half an order of magnitude greener than the alternative. The chilling effect here serves to worsen environmental impact and destroy the motivation to innovate for drastically greater gains.This is exactly what humanity did with nuclear energy where a bunch of hysterical obsession about the potential damage killed progress and innovation with the end result being hugely more actual damage.There is no way in hell that my coffee, when I tap my card to pay, uses 10x that in energy, or we’d all still be using cash.It’s just insane how inefficient bitcoin is, when considering how few transactions actually being made on it. A single raspberry pi could easily maintain the ledger, if not for the asinine proof of work system adopted to “keep it secure”.
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