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You're off your rocker - a "hobby of the .01%". If you can't see the potential of a decentralized cryptographically secure store-of-value/currency then you are

• bpodgursky 9y ago
  The point is that almost nobody uses bitcoin, and it still uses as much electricity as VISA (or more). If it became the currency of the masses, we'd spend half the world's electricity farming blocks.
  • Dylan16807 9y ago
    > If it became the currency of the masses, we'd spend half the world's electricity farming blocks. Yeah, some rough math on current market cap suggests not quite half but probably more than a tenth. But the problem is saying the 0.01%. Bitcoin is certainly used by a small fraction of people, but it's not at all a rich-person thing.
    • stOneskull 9y ago
      i think the electricity use is a bigger problem.
      • stratoglide 9y ago
        And traditional currencies have been cutting down trees for hundreds of years to process them into paper. Isn't that incredibly inefficient? Think about all the energy that is wasted to get the heavy metals out of the ground to produce coins? That's not even including the fact that every retail store I've worked at never turn of their POS terminals or the 24hr ATM's. The gross waste of having to build buildings to store money in? Is the traditional banking system really any more efficient? Not to mention its not exactly wasting electricity at all its just inefficient by design for security purposes.