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en:philosophy:cryptocurrencies [2024/06/21 13:26]
throgh [Economic scale] 		en:philosophy:cryptocurrencies [2024/12/11 02:51] (current)
throgh [Economic scale]
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 {{ :en:philosophy:blockchain_description.png |}} {{ :en:philosophy:blockchain_description.png |}}
 (//Image is showing the process of a new entry added into the blockchain, source: Hyperbola-project//) (//Image is showing the process of a new entry added into the blockchain, source: Hyperbola-project//)
 +
 +The conclusion from the image above is clear showing that the more transactions created the bigger the whole blockchain gets consuming data to be saved and preserved. The whole mechanism is oriented to be fraud-safe, so all transactions need to be preserved. So the whole data processed gets in the whole amount of space needed bigger while also the computations needed adding more transactions get more complex. 
  
 As the data created needs to be saved and distributed for further processing. That's the common task included in the phrase as Bitcoin is per definition designed to be "currency" and blocks containing the following information: As the data created needs to be saved and distributed for further processing. That's the common task included in the phrase as Bitcoin is per definition designed to be "currency" and blocks containing the following information:
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   * Disruption of the global electronics supply chain   * Disruption of the global electronics supply chain
  
-Bitcoin alone as one famous cryptocurrency produces 30.7 kT of electronic waste per year, similar to the Netherlands. Included within are 272g of waste per transaction on average ([[https://www.sciencedirect.com/science/article/abs/pii/S0921344921005103|Source]]).+Bitcoin alone as one famous cryptocurrency produces 30.7 kT of electronic waste per year, similar to the Netherlands. Included within are 272g of waste per transaction on average ([[https://web.archive.org/web/20240510143055/https://www.sciencedirect.com/science/article/abs/pii/S0921344921005103|Source]]).
  
 Proof-of-work cryptocurrencies directly monetize the use of electricty. It fundamentally derives value from of energy waste. Traditional financial systems use energy to maintain the ledger, but the ledger itself is an abstraction for value that exists independently of the energy use. This is inherently a much more efficient design. Proof-of-work cryptocurrencies directly monetize the use of electricty. It fundamentally derives value from of energy waste. Traditional financial systems use energy to maintain the ledger, but the ledger itself is an abstraction for value that exists independently of the energy use. This is inherently a much more efficient design.
  
-Nobody has further imagined what kind of infrastructure would be needed if all mankind would use cryptocurrencies: Do we have the technical requirements generating such amount of energy needed? And can we accomplish the growing requirements for the hardware with every new reached level of complexity to be computed? What happens with the discarded hardware? Those appliances are very specialized and not for common usage. All those questions were not answered until today and endanger our environment on-going with the purest form of ignorance and arrogance ([[https://www.interface-eu.org/publications/chip-productions-ecological-footprint|publication of the ecological footprint of chip productions).+Nobody has further imagined what kind of infrastructure would be needed if all mankind would use cryptocurrencies: Do we have the technical requirements generating such amount of energy needed? And can we accomplish the growing requirements for the hardware with every new reached level of complexity to be computed? What happens with the discarded hardware? Those appliances are very specialized and not for common usage. All those questions were not answered until today and endanger our environment on-going with the purest form of ignorance and arrogance ([[https://web.archive.org/web/20240620100142/https://www.interface-eu.org/publications/chip-productions-ecological-footprint|publication of the ecological footprint of chip productions]]).
 ===== Perspectives and outcome ===== ===== Perspectives and outcome =====