it is absolutely fucking our world (environmentally and economically)
Environmentally, it has yet to surpass Bitcoin in electricity usage (though it’s set to triple soon, and that will make it a bigger power hog than all of cryptocurrenty).
Economically, this is the biggest bubble since the 1800s railroad boom. Scaled for inflation and GDP railroads were a far bigger gamble than AI, and they hit a 20ish year recession when that boom was over.
Hopefully the “fungible technology” argument holds water, and whatever AI investments don’t work out the hardware / data centers can be re-purposed for truly valuable aspects of it. Truly valuable to who is the key question.
Bitcoin had a slower rollout, it wormed its way into smaller niches. A lot of early bitcoin mining was done on “borrowed” or otherwise “unused” hardware that other people paid the electric bills for.
I generally approve of much of what cryptocurrency could be used for, but I’ve been pissed off about the waste of proof-of-work cryptocurrency since before 2018, and nothing has improved since then.
Environmentally, it has yet to surpass Bitcoin in electricity usage (though it’s set to triple soon, and that will make it a bigger power hog than all of cryptocurrenty).
Economically, this is the biggest bubble since the 1800s railroad boom. Scaled for inflation and GDP railroads were a far bigger gamble than AI, and they hit a 20ish year recession when that boom was over.
Hopefully the “fungible technology” argument holds water, and whatever AI investments don’t work out the hardware / data centers can be re-purposed for truly valuable aspects of it. Truly valuable to who is the key question.
Bit coin farms never built massive illegal gas turbine power plants in residential neighbourhoods at least not that I know of.
Not that I am a fan of the waste for crypto mining either.
Bitcoin had a slower rollout, it wormed its way into smaller niches. A lot of early bitcoin mining was done on “borrowed” or otherwise “unused” hardware that other people paid the electric bills for.
I generally approve of much of what cryptocurrency could be used for, but I’ve been pissed off about the waste of proof-of-work cryptocurrency since before 2018, and nothing has improved since then.