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Does someone feel like giving me an ELI5 why Bitcoin mining eats up so much electricity these days? Is it just because the problems the machines need to solve have gotten more complex? Do other cryptos tax the resources as bad? Is there a viable crypto that would be considered “green” at this point?
Sorry for overboarding my questions if anyone even attempts to answer this lol
All crypto is essentially designed around competition for who gets to be the one mining it. Things escalate, and that's how you end up with these ridiculous crypto farms that use as much power as entire cities. No crypto currency is "green". And UNLIKE cars, lights or banking, crypto serves no purpose, it's currency that doesn't get spent, it's basically just there to fuel speculation for tech bros.
Crypto is a complete waste of energy, it's not 'big money spinning Bitcoin as negative', it's just objectively idiotic, don't listen to that comment.
If you haven't, I recommend watching Dan Olson's documentary "Line Goes Up" on Youtube.
No currency is green. Crypto, fiat or visa etc it all burns resources to maintain
Difference is that crypto is barely even a currency, it's basically just a vehicle for speculation. Visa is actually useful.