Everton, fan tokens and cryptocurrency

[Groucho]

Haven’t a clue about any of this.

 

[Bruce Wayne]

Do you know the energy use of millions of banking computers and servers being left on 24/7? The carbon footprint of all those employees travelling to and from work? The greenhouse effect from air conditioning units cooling human workers and server rooms? Billions of atms endlessly drawing power. The environmental cost of minting fiat currency (manufacture of, including raw materials). I hate all this "MINING KILLS THE EARTH" bs. Crypto is moving from proof of work (mining) to proof of stake (validation) in an proactive move to reduce/eliminate crypto mining. You're generic energy waste statement is quite frankly, uneducated guess work at best.

Cryptocurrency Has a Huge Negative Impact on Climate Change

Critics warn that cryptocurrency networks, whose computers use enormous amounts of electricity to verify transactions, could be a factor in warming the planet. The industry is working to change that.

science.howstuffworks.com

A study published in the journal Nature Climate in 2018 concluded that the growth of bitcoin could produce enough emissions by itself to raise global temperatures by 3.6 degrees Fahrenheit (2 degrees Celsius) as soon as 2033.

What's more, if you live in the UK then the chances are extremely high that the electricity you're burning isn't even going to be renewable. Even if it is renewable, cryptomining increases the energy bills for every other poor sucker in your community

Power-hungry cryptominers push up electricity costs for locals | Haas News | Berkeley Haas

When cryptominers come to town, local residents and small businesses pay a price in surging electricity rates. A new Berkeley Haas working paper

newsroom.haas.berkeley.edu

 

[Bruce Wayne]

You know the newly emerging ESG (Environment, Social, Governance) market? I only heard of it recently personally. ESG scores are going to be a requirement for many public companies going forward.

One aspect of it is that companies can buy certificates from other companies who work to offset carbon. Basically it will apply the same market force (capitalism) to the problem of energy that has us in this mess in the first place.

Of course, the problem with capitalism is that if there's money to be made somewhere it will be made. The carbon offset market risks being another sub-prime market where the same credits are sold again and again and again, with little transparency

Cryptocurrency can solve that problem. On chains that require 1/1000000 the energy of Bitcoin.

It'll be very very useful to the planet. Don't knock it.

Oh ffs.

 

[nikom court]

 

[Kaiser Soysauce]

Cryptocurrency Has a Huge Negative Impact on Climate Change

Critics warn that cryptocurrency networks, whose computers use enormous amounts of electricity to verify transactions, could be a factor in warming the planet. The industry is working to change that.

science.howstuffworks.com

What's more, if you live in the UK then the chances are extremely high that the electricity you're burning isn't even going to be renewable. Even if it is renewable, cryptomining increases the energy bills for every other poor sucker in your community

Power-hungry cryptominers push up electricity costs for locals | Haas News | Berkeley Haas

When cryptominers come to town, local residents and small businesses pay a price in surging electricity rates. A new Berkeley Haas working paper

newsroom.haas.berkeley.edu

You posted a one sides argument lead by people who want to debunk defi. You did not even try to answer my original questions.

Cryptocurrency Has a Huge Negative Impact on Climate Change

Critics warn that cryptocurrency networks, whose computers use enormous amounts of electricity to verify transactions, could be a factor in warming the planet. The industry is working to change that.

science.howstuffworks.com

What's more, if you live in the UK then the chances are extremely high that the electricity you're burning isn't even going to be renewable. Even if it is renewable, cryptomining increases the energy bills for every other poor sucker in your community

Power-hungry cryptominers push up electricity costs for locals | Haas News | Berkeley Haas

When cryptominers come to town, local residents and small businesses pay a price in surging electricity rates. A new Berkeley Haas working paper

newsroom.haas.berkeley.edu

You did not even try to answer my original questions.

The financial industry has a massive environmental footprint if you include all of its associated parts...staff, travel, computers, servers, banks, lighting.....so many factors that balance out the use of fossil fuels v digital currency. Its not as simple as "crypto....bad.....hulk....smash".

Yes bit coin and other PoW tokens require computers to verify transactions, but many PoS tokens do not and are massively beneficial. Therefore eliminate the need to "mine". Crypto is evolving and here to stay.

Fail to know it's benefits and get left behind. There's a bloke in work who won't use a debit card, set up a direct debit or use online banking. That's you in 10 years.

 

[Bruce Wayne]

You posted a one sides argument lead by people who want to debunk defi. You did not even try to answer my original questions.

You did not even try to answer my original questions.

The financial industry has a massive environmental footprint if you include all of its associated parts...staff, travel, computers, servers, banks, lighting.....so many factors that balance out the use of fossil fuels v digital currency. Its not as simple as "crypto....bad.....hulk....smash".

Yes bit coin and other PoW tokens require computers to verify transactions, but many PoS tokens do not and are massively beneficial. Therefore eliminate the need to "mine". Crypto is evolving and here to stay.

Fail to know it's benefits and get left behind. There's a bloke in work who won't use a debit card, set up a direct debit or use online banking. That's you in 10 years.

I don't doubt that financial services has a big carbon footprint, and will readily admit that while there are pledges to become net neutral in the coming decades, I will believe these pledges when I see some more meaningful action from the sector.

But, set against that, the financial services sector provides a huge amount for society and it would be impossible to imagine society functioning without it. Cryptocurrencies provide naff all for society other than for bandwagon jumpers to try and get rich in their mum's basement by kidding other gullible types that it's the best get rich quick scheme out there. All while burning through more energy than countries like Denmark and New Zealand. For nothing. When we face a climate emergency.

 

[Bruce Wayne]

You posted a one sides argument lead by people who want to debunk defi. You did not even try to answer my original questions.

You did not even try to answer my original questions.

The financial industry has a massive environmental footprint if you include all of its associated parts...staff, travel, computers, servers, banks, lighting.....so many factors that balance out the use of fossil fuels v digital currency. Its not as simple as "crypto....bad.....hulk....smash".

Yes bit coin and other PoW tokens require computers to verify transactions, but many PoS tokens do not and are massively beneficial. Therefore eliminate the need to "mine". Crypto is evolving and here to stay.

Fail to know it's benefits and get left behind. There's a bloke in work who won't use a debit card, set up a direct debit or use online banking. That's you in 10 years.

Oh, and incidentally, with your comments on it "changing the world", Bitcoin is structurally only capable of handling about 5 transactions per second. That's not a computational hurdle, that's baked into its operations. Visa on their own handle a few thousand transactions every second, and that's before you include Mastercard, AMEX, inter-bank transfers, and so on. It's an absurdity to expect cryptocurrency to play a meaningful role in society unless things change enormously.

 

[nikom court]

I don't doubt that financial services has a big carbon footprint, and will readily admit that while there are pledges to become net neutral in the coming decades, I will believe these pledges when I see some more meaningful action from the sector.

But, set against that, the financial services sector provides a huge amount for society and it would be impossible to imagine society functioning without it. Cryptocurrencies provide naff all for society other than for bandwagon jumpers to try and get rich in their mum's basement by kidding other gullible types that it's the best get rich quick scheme out there. All while burning through more energy than countries like Denmark and New Zealand. For nothing. When we face a climate emergency.

what a privileged thing to say!
try telling that to people in countries like el salvador and nigeria with no access to bank accounts that use crypto for remittances because the present financial system wont let them in unless they get ripped off by western union!

 

[diggerdestroyer]

Crypto is a scam and its bad the club has gotten involved

If everton are involved you know it's going to fail

 

[nikom court]

Oh, and incidentally, with your comments on it "changing the world", Bitcoin is structurally only capable of handling about 5 transactions per second. That's not a computational hurdle, that's baked into its operations. Visa on their own handle a few thousand transactions every second, and that's before you include Mastercard, AMEX, inter-bank transfers, and so on. It's an absurdity to expect cryptocurrency to play a meaningful role in society unless things change enormously.

it gets better,80% of the worlds population dont even have a bank account,
do you actually believe they have access to mastercard,amex and interbank transfers lol

 

[Bruce Wayne]

what a privileged thing to say!
try telling that to people in countries like el salvador and nigeria with no access to bank accounts that use crypto for remittances because the present financial system wont let them in unless they get ripped off by western union!

I'm going to need a source for that I'm afraid.

it gets better,80% of the worlds population dont even have a bank account,
do you actually believe they have access to mastercard,amex and interbank transfers lol

It's estimated that around 1.5 billion are unbanked out of a global adult population of around 6 billion, so the global financial system is catering for around 4.5 billion people. It's estimated that there are around 100 million people who own a bit of Bitcoin, which means 5.9 billion people are "uncrypto'd"

 

[nikom court]

I'm going to need a source for that I'm afraid.

It's estimated that around 1.5 billion are unbanked out of a global adult population of around 6 billion, so the global financial system is catering for around 4.5 billion people. It's estimated that there are around 100 million people who own a bit of Bitcoin, which means 5.9 billion people are "uncrypto'd"

The Costs Of Being Unbanked Or Underbanked

According to a 2019 report by the Federal Reserve, 22% of American adults (63 million) are either unbanked or underbanked. The 6% of Americans who are unbanked have no bank account whatsoever and must rely on alternative financial products and services—such as payday loans, check cashing services, m

www.forbes.com

Almost half of the world’s population still doesn’t use a bank account

Global financial inclusion is slowing down, according to new data.

qz.com

 

[trueblue84]

The Costs Of Being Unbanked Or Underbanked

According to a 2019 report by the Federal Reserve, 22% of American adults (63 million) are either unbanked or underbanked. The 6% of Americans who are unbanked have no bank account whatsoever and must rely on alternative financial products and services—such as payday loans, check cashing services, m

www.forbes.com

Almost half of the world’s population still doesn’t use a bank account

Global financial inclusion is slowing down, according to new data.

qz.com

The fact that people don't have bank accounts doesn't mean they'll use crypto currencies.

Until crypto currencies fundamentally change some key aspects of how they operate; irreversible transactions and no regulation being the obvious ones, then they will never become mainstream.

I'm personally still convinced it is a global scam, due to the regularity that millions of £s are stolen by "hackers".

Hackers steal $600m in major cryptocurrency heist

Thousands of digital tokens have been stolen by hackers in one of the largest cryptocurrency heists.

www.bbc.co.uk

 

[Dublin blue 75]

We can do crypto but we couldn’t have a working printer at the ticket shop yesterday. Priorities.

 

[DuuuncanHadaPigeon]

I don't doubt that financial services has a big carbon footprint, and will readily admit that while there are pledges to become net neutral in the coming decades, I will believe these pledges when I see some more meaningful action from the sector.

But, set against that, the financial services sector provides a huge amount for society and it would be impossible to imagine society functioning without it. Cryptocurrencies provide naff all for society other than for bandwagon jumpers to try and get rich in their mum's basement by kidding other gullible types that it's the best get rich quick scheme out there. All while burning through more energy than countries like Denmark and New Zealand. For nothing. When we face a climate emergency.

Look up proof of stake.

Blockchain is basically good for one thing, censorship resistance. Otherwise it is a slow expensive database.