Seems to be. If Ethereum successfully implements PoS, we will have people complaining about the network being (relatively) less decentralized. Honestly, decentralization is pretty futile if it’s unsustainable. If PoS reduces the energy consumption by a hundredfold, there is no debate.
I don’t know – do you?
And do you realize that the Global Financial system serves the entire human race? (ironical asterisk)
Total numbers have no use in this debate. Let’s count the consumption per person. And the fact you can find even more wasteful whims (such as Christmas lights in the states) should not distract anyone from seeing that Bitcoin is a wasteful crock poop of technology that has absolutely no potential for a worldwide adoption and global use.
At the moment, a single bitcoin transaction creates a carbon footprint of 258 kg of CO2. It is expected that the total number of worldwide non-cash transactions should reach about 725 billion a year by 2020.
Let’s pretend the bitcoin network could ever process this number of transactions, let’s pretend it would not kill cash and the number of non-cash transactions would not therefore explode, let’s pretend this adoption would (with the current system) not hysterically increase the carbon footprint per transaction.
With 258 kg of CO2 per transaction, bitcoin as a global payment system would pollute the planet with about 187 gigatons of CO2 a year.
On average, a car emits about 6 tons of CO2 a year. By a quick math, bitcoin implemented as a worldwide payment system at the current rate of the carbon footprint per transaction would pollute the planet like a 31 billion of passenger cars.
How cool is that? Either bitcoin chokes, or we will. But if we will, so will it.
It was really groundbreaking in 2009, pretty nerd-cool in 2011-12. And now, bitcoin is hype. Dirty and smelly hype.