Bitcoin

Bad Faith Healer

Bamber Clatscoigne
You know deep down its not right. I for one am feeling very validated that I sold my bitcoin back for the price I bought it several months ago.
But number go up, regardless of how you feel.
At this point in the Weimar Republic, smart people were buying hard assets with borrowed money, shortly before marginally less smart people were selling all their furniture to buy an apple.
 

Dusty

Tone deaf
The worst part about Bitcoin isn't the energy useage. It's the Bitcoin community. Alt-coin traders are so much more fun to be around than Bitcoin maximalists, even if they are wrong.
 

Bad Faith Healer

Bamber Clatscoigne
The worst part about Bitcoin isn't the energy useage. It's the Bitcoin community. Alt-coin traders are so much more fun to be around than Bitcoin maximalists, even if they are wrong.

Stupidity can be endearing. My dog is daft and holds a big bag of ETH, but I still love her.
 

sufi

осом
Many such examples

your argument is very weak - even is it is "waste" electricity (whatever that is 🤪) there is still a proportion that is non-renewable, and absolutely nothing to stop BC going over to non-renewables if for example oil prices made it cheaper to go that way.

and even if it was all renewable, it's still a huge amount of energy used for the sake or what? creating "value"? It was a bad idea to use that method from the start unfortunately
 

sufi

осом
not that surprised that you profess not to care though, any discussion on bitcoin is skewed by gigantic conflicts of interest (though that's the case for a lot of finance i guess)
 

wild greens

Well-known member
how much power does the stock market use, hft servers etc.

horizen looking like the more promising shitcoin at the moment, grayscale have been pushing money into it
 

Dusty

Tone deaf
and even if it was all renewable, it's still a huge amount of energy used for the sake or what? creating "value"? It was a bad idea to use that method from the start unfortunately

I think you should look at it as energy used to secure a financial truth. Those processors are grinding away to produce blocks on the ledger. The truth of that ledger is absolute. What is the value of securing our finances?

Unlike the cruise industry, burning enough fossil fuels to compete with all the cars in Europe for cheap thrills.
 

Dusty

Tone deaf
If you think that all sounds detached from reality because your finances are already secured in a bank, then its worth looking at Venezuela's bitcoin adoption.

If you own bitcoin and you are smart enough not to leave it sitting on an exchange but actually control the wallet yourself, then that money is truly yours. No bank is going to collapse and lock it away, no government is going to tax it to high heaven, inflate away its worth or confiscate it.

It's true use-case is for absolute ownership of wealth by the individual. This is a powerful feature in a world of growing economic instability.
 

luka

Well-known member
Staff member
anyone with more than a tenner in the bank should be electrocuted to death anyway or sent to work in the salt mines, one or the other.
 

polystyle

Well-known member
Was reading about this today, sounds really interesting. Reminded me a bit of that story a few years back where some guy perpetrated a fraud in game currency on Better Than Life (or something like that) - which raised some interesting questions as the game currency trades on ebay and various other places for real money ie it has an exchange rate with the real world so arguably he'd committed a real crime. Anyway, seems that these Bitcoin things ought to be more secure than that - or are they?
For those who don't know what I'm on about


I'm interested in this lack of central control and how things such as inflation etc will work. I'm also not sure how new ones are generated - it says that they will be generated in decreasing amounts to a fixed finite level but who gets them? - and what it means for the currency. How likely is it to be superseded by another similar system etc etc?

http://en.wikipedia.org/wiki/Bitcoin

Has anyone ever used these?

(I didn't know if this should go in politics or technology or what so I stuck it in miscellaneous)
Bitcoin - on a roll of late !

How about climate carbon and coin or as put here Fight Carbon with Coin.
Anyone here a Kim Stanley Robinson reader ?

 

luka

Well-known member
Staff member
1613691326012.png

146 IQ Magical Thinker (in the hat) with Josh Boles (left) and Matt Clemenson in San Juan, in Puerto Rico: dozens of entrepreneurs, made newly wealthy by virtual currencies, have moved to the island to avoid taxes – and to build a society that runs on blockchain.
 
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