MemberAugust 18, 2021 at 12:48 pm
If I may, when I began mining in 2014 I used solar for about 80% of my mining. So, I can definitely say that most of my coins are very clean. But that only addresses coins that were mined by way of the Proof of Work (POW) algorithm. Though nowadays there are also so many coins such as XRP, XLM and Algorand that employ Proof of Stake algorithms which hardly consume any resources whatsoever. Why lump all coins together into the same category?
Furthermore, when you see what each mining rig performs in terms of validating transactions and keeping a resilient shared secure ledger of each transaction in a geographically distributed manner and then compare that to what environmentally conditioned Banks do and the jet set executives in their widowed corner offices, all the bank employees which drive to work and burn calories to manage your transactions and the blinded trucks with security guards and the non-secure SWIFT protocol used for wiring money and the fraud and identity theft and the fees and the paper mail statements and the advertisements, and the printing and transport of paper money and the physical coins and the buying off of politicians… on and on and on then one gets to realise how green a computer mining operation, even for the least efficient of cryptocurrencies can actually be.
To put things into the proper perspective, we must look at the whole picture and all factors in the entire monetary enterprise and all of its players and middle-people. The system that cryptocurrencies are supplanting is many times fold more dirty in comparison. Is there room to make it greener, of course. But the fact we are even having this conversation is an awesome thing. I’ve also worked for Wall Street. Not very green. Not green at all. lol
In fact, there’s a possibility that, with the excess power being generated by each Aptera, once that battery is to the desired capacity, why not mine cryptos with that excess capacity and get subsidised for that excess power that way? Otherwise it is being thrown away.
Yes, mining crypto is good for the environment, when you compare it to the filthy system it replaces. Staking crypto is even better for the environment. We all start somewhere and evolve. Crypto & its associated FinTech is the evolution from the traditional banking model. And staking is an evolution from mining. And tomorrow there will be yet more evolution along the way. Hopefully those will also be viewed from an holistic / wholistic standpoint as well.