from Gergely Orosz | by Gergely Orosz

“These kids earn $30K/month mining crypto” - headline … after their investment banker father took out a loan of $230-280K to buy graphics cards … plus paying $3K/month for electricity (“we want to be environmentally friendly” made me cringe) Inspiring story right there. t.co/p5q3Jjgjex

Incredible how the media is popularising this environmentally terrible activity, with incredible energy waste. “We moved from my desk to the garage, since the house was getting too much heat and noise. Outgrew the garage, since heat and noise was too much for the garage too.”

So much of the tech industry is about moving to lower energy output, with better results. ARM, M1, and quantum computing (if it works out). And - BAM - we have crypto. Waste electricity for literally nothing, at country-scale. In the middle of the key decades for global warming.

This is such an important reason I personally never will get involved with anything crypto / blockchain. Yes, it’s an interesting technology. Yes, people are getting rich and there’s a gold rush happening. A huge, global-level energy footprint is the bill: that keeps growing.