> But "Crypto" (specifically the energy intensive kind) has a different problem, and that's that it has /massive/ externalities that it simply ignores, forcing us, the people who want nothing to do with it, to now deal with it
Grossly inefficient personal transportation and industrial farming have massive externalities forcing people who want nothing to do with it to deal with it. That doesn't seem to be a concern that matters to most people. And they're exacerbating the same climate and energy issues.
Public blockchain can be powered by renewable energy, using its own value to pay for it, and can harness power in areas where it is not feasible to harness that power for other purposes.
Here's a podcast[1] episode with Saifedean Ammous, if you're interested in the value proposition. He claims Bitcoin actually saved his life, so obviously incredibly valuable to him. Lex does a pretty good job at pushing back on his evangelism.
> Grossly inefficient personal transportation and industrial farming have massive externalities forcing people who want nothing to do with it to deal with it. That doesn't seem to be a concern that matters to most people.
But it is a concern, and it is being tackled in many places: gasoline is taxed very heavily. Farm subsidies are being reduced.
Just because not all externalities have been fully internalised yet, doesn't mean PoW with its massive externalities is fine.
Grossly inefficient personal transportation and industrial farming have massive externalities forcing people who want nothing to do with it to deal with it. That doesn't seem to be a concern that matters to most people. And they're exacerbating the same climate and energy issues.
Public blockchain can be powered by renewable energy, using its own value to pay for it, and can harness power in areas where it is not feasible to harness that power for other purposes.
Here's a podcast[1] episode with Saifedean Ammous, if you're interested in the value proposition. He claims Bitcoin actually saved his life, so obviously incredibly valuable to him. Lex does a pretty good job at pushing back on his evangelism.
[1]: https://www.youtube.com/watch?v=gp4U5aH_T6A