[NetBehaviour] blockchain electrical consumption?

[Annie Abrahams]

very interesting Mustafa, thanks for posting

On Tue, Nov 7, 2017 at 10:57 PM, Mustafa Al-Bassam via NetBehaviour <
netbehaviour at lists.netbehaviour.org> wrote:

> It is easy to not for westerners who live in stable economies to not see
> the social benefits of cryptocurrency. But for economies strife with
> corruption and hyperinflation, the need for censorship-resistant money
> (cryptocurrency) is obvious, as is the need for censorship-resistant
> speech. In Venezuela, some people have no choice but to use
> cryptocurrency to merely survive and afford basic things
> (https://www.cnbc.com/2017/08/24/bitcoin-mining-is-popular-
> in-venezuela-because-of-hyperinflation.html).
> Let's not forget that Bitcoin was first popularised when WikiLeaks used
> it to overcome its banking blockade that prevented it from accepting
> donations.
>
> The original adopters of cryptocurrency are cypherpunks - Satoshi
> invented Bitcoin partly as a way to overcome the problem of monopolistic
> banks that are 'too big to fail' (leading to the 2008 of bailout). Do
> not get confused: people who actually need cryptocurrency because of
> corruption, hyperinflation or capitalistic monopolies (i.e. Western
> Union) couldn't care less the 'blockchain' and 'ICO' hype that is being
> taken advantage of by people trying to jump on the bandwagon.
>
> On 06/11/17 11:08, helen varley jamieson wrote:
> >
> > looking at the environmental impact of it all is really important,
> > because huge amounts of resources are being devoted to something that
> > - as far as i can see - serves very little actual purpose. with the
> > exception of projects like julian's, the focus seems to be
> > predominantly on personal wealth gain & speculation & any supposed
> > social benefits of the technology are just a way to justify it.
> >
>
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