cdevroe
cdevroe
NFTs and energy use cdevroe.com
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jack
jack

@cdevroe I hope you're right. I don't share your optimism. Also, NFTs don't pass my sniff-test at all. I'm probably wrong.

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cdevroe
cdevroe

@jack I tried not to center my argument on any specific blockchain technology but that all of them will get attention in this area very quickly. I would be very surprised if every VC firm, Co. Board, and CEO of any blockchain org hasn't already held emergency meetings.

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cdevroe
cdevroe

@cdevroe As an aside, I stick to my advice in December 2017 that you shouldn't spread information that you're not familiar with re: these technologies. That includes me! I see an awful lot of hot takes on this topic.

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eli
eli

@cdevroe in that NFTs are a manifestation of capitalism for capitalism's sake, and capitalism is sort of predicated on exploitation I think we'll have to wait until it is more expensive to expliot what feels to be limitless energy than it is to produce/sell NFTs to trigger incentive to produce a "better" way of producing them. That said, I wonder if the issue is less the enviromental impact (certainly devestating) and more the system that is producing 'em?

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cdevroe.com
cdevroe.com
@eli

I’ll report back in a year when I can wrap my head around your comment. 🤔

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manton
manton

@cdevroe I've started listening to Bill Gates's new climate book... Not about blockchain, but he makes the point that we are going to need more energy and that's okay. But it has to be from solar, wind, etc. Encouraging or mandating renewable energy for blockchain makes sense to me.

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cdevroe
cdevroe

@manton Then I agree with Bill. :) Though I do think this issue will be solved from both ends (reduce the amount of energy needed, and force the source of that energy to be from renewable sources).

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eli
eli

@cdevroe.com more simply put: NFTs are a product of capitalism and a production purely defined by value in exchange. The value of an NFT is derivied, largely, from their being crypotgraphically irreproducible. To gaurntee that an NFT is irreproducible, and therefore valuable, a huge ammount of energy must be used -- and continully so. It isn't one and done so, compared to something like a bike, an NFT's emmisions are difficult to offset. They're like a gasoline car in that way -- there is a certain amount of emmision produced in their construction and then in their contiued use.

Just as we've been wicked slow to make cars meaningfully more sustainable, I think the incentives to make NFTs more enviromentally kosher aren't there -- there is more value to be derived from their constatnly exploiting the enviroment than there is from making and maintaining them more efficiently.

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cdevroe
cdevroe

@eli I appreciate the rewrite. And I am with you. My post wasn't specifically about the plusses and minuses of NFTs but on the blockchain as a whole and its use of energy. But, I will mention, that I believe there is incentive to make this more efficient. I see two clearly. Unlike cars, the networks are being maintained by those that facilitate these transfers (speaking specifically about NFTs) which means the overhead for them is higher if there is more use of energy. So reducing energy usage will ultimiately reduce costs which increases profit. The second incentive is public relations. If NFTs, or any other blockchain technology, is seen as a huge climate destroyer that is bad for business. So they will likely try to tackle this to both increase profits and to make NFTs more approachable by environmentally conscienous players.

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eli
eli

@cdevroe here is hopin'!

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In reply to
grayareas
grayareas

@manton Doesn't Gates also include nuclear energy in what will be required? I believe it's much safer than it's ever been, but its reputation still lags far behind because of understandably terrifying past incidents. But I believe he has discussed a nuclear energy pathway in the context of limits to what can be garnered via solar and wind.

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cdevroe
cdevroe

@grayareas @manton I believe you're right. He's heavily invested in all-new nuclear tech that reduces the known issues with nuclear. I don't know the timeline on that work though.

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