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News Corp profits dive 75% as Rupert Murdoch-owned company hints at AI future
(www.theguardian.com)
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this post was submitted on 13 Aug 2023
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Technology
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Bitcoin created years of jacked up prices for GPUs and is helping to boil the planet/burn through rare earth metals. All while generating wealth for primarily hedgefunds by completing arbitrarily set difficulties for math problems that require grinding the GPU for literally no meaningful output lol
The thing that is so pernicious about cryptocurrency is that the more computational power you throw at it, the less efficient it actually becomes. That means more adoption you have, the worse it is.
A thought — instead of doing worthless math, couldn't it be something useful like protein folding? Remember Folding@Home? Or cancer research or something?
I mean I know it's probably too late, proof of stake bring replaced by that other thing (or was it the other way around?), and maybe the useless math was something that had to do with calculating the blockchain or whatever; I just don't understand why someone couldn't have come up with a way to make it have actual value.
Or maybe they did and I just don't know about it, honestly couldn't be bothered to jump on the bandwagon.
There have been attempts at making useful things with the calculations, but none of them have really taken off.  It’s a speculator’s market through and through.
Shame the speculators can't vote for something more useful with their money 😓 You'd think they'd have a moral interest in balancing the scales a bit, what with the money laundering pyramid scheme and all 😅 /s
Modern crypto currency doesn't have the same energy problems, if we can't all agree on a common non government controlled currency howv will we ever break the generational control?
Whats your solution?
Bitcoin is still PoW.
Crypto is not generally used as currency. It’s treated like stocks and as a tool for tax evasion.