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Just 137 crypto miners use 2.3% of total U.S. power — government now requiring commercial miners to report energy consumption (www.tomshardware.com)

submitted 9 months ago by [email protected] to c/[email protected]

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[–] [email protected] 1 points 9 months ago (4 children)

And yet they're still used like a stock and you can't really use them as a currency.

[–] [email protected] 1 points 9 months ago (3 children)

You can't use them as a currency everywhere. But the same can be said for any other currency too. You can't use US dollars everywhere. You can't use Chinese Yuan everywhere. And so forth. A currency doesn't have to be universally accepted everywhere on the planet for every application before it's useful.

Regardless, I was talking about using Ethereum as a distributed database.

[–] [email protected] 1 points 9 months ago (2 children)

You know fine well that's not what I meant.

If you were to attempt to only use Bitcoin, Ethereim, whatever, you almost certainly literally wouldn't be able to live.

You can't just pay all your bills with it.

And even the people who own it almost never use it as a currency. They treat it like a stock.

[–] [email protected] 1 points 9 months ago (1 children)

I really don't see your point here. I'm agreeing that you can't use it for everything. But what's wrong with that? There are plenty of things in this world that aren't useful in every circumstance and yet that doesn't mean those things are worthless. Use them for the things that they're good for. Elsewhere in this thread I listed off a whole bunch of non-stock, non-currency applications that have been built on blockchains if you really don't like the monetary applications.

As a side note, though, I'm kind of amused and baffled that the Grand Nagus of all people is dismissing any monetary uses for cryptocurrency.

[–] [email protected] 1 points 9 months ago

You make it sound like it's not used for absolutely everything, but it's used for a lot.

And it just... isn't. It's almost entirely unused as a currency.