I think the essence of the article is: "Bitcoin's 'Nightmare Scenario' According to Climate Groups" which describes out investment in green energy countered by growth of Bitcoin mining:
“Imagine the Saudis sitting on all that oil, which has a cost of about ½ cent per kilowatt hour – no renewable can match that,” Larsen said. “Bitcoin mining could be this endless monetization engine for fossil fuels. That would be a nightmare.”
Crypto in general is the nightmare, because all carbon in the ground can be sold as crypto. Build a mining farm and power plant. This is already underway- using flared gas has created the incentive to steer gas towards crypto.
The only thing holding it back is that crypto can be worth an arbitray amount but it only monetizes when someone buys it.
> which has a cost of about ½ cent per kilowatt hour
Energy is not even the half of the answer. You have to extract an electricity from your carbs. Also you have to own some mining powers and to be sure that governments will not confiscate your property. And please not forget that "monetization" part of mining strategy becomes less and less effective if your goal is just to get bitcoins instead of to support community. Last but not least - among all the possible "change in coding"-s they are talking only about PoS, there are no more of intellectual load in the article.
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The only thing holding it back is that crypto can be worth an arbitray amount but it only monetizes when someone buys it.
Isn't it can be sold as dollars? Just keep selling it to US Navy.
Energy is not even the half of the answer. You have to extract an electricity from your carbs. Also you have to own some mining powers and to be sure that governments will not confiscate your property. And please not forget that "monetization" part of mining strategy becomes less and less effective if your goal is just to get bitcoins instead of to support community. Last but not least - among all the possible "change in coding"-s they are talking only about PoS, there are no more of intellectual load in the article.