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Now factor in all the costs of moving bills to and from ATMs, banks, and businesses and see how the numbers stack up. While we're at it, factor in the cost of
by colemannugent 9y ago
Now factor in all the costs of moving bills to and from ATMs, banks, and businesses and see how the numbers stack up.
While we're at it, factor in the cost of robberies where the robbers take cash, as Bitcoin eliminates those costs as well.
- tinus_hn 9y agoAre you in the universe where no Bitcoin got stolen, ever? Because I surely am not.
- bad_user 9y ago> Now factor in all the costs of moving bills to and from ATMs, banks, and businesses and see how the numbers stack up. That's unfair. A more reasonable comparison is with credit card transactions. Several European countries are positioned to go cashless you know. > While we're at it, factor in the cost of robberies where the robbers take cash, as Bitcoin eliminates those costs as well. That's a really stupid argument to make, but while you're at it, factor in the cost of Bitcoin robberies of people getting hacked, more and more every day. There's even a story around of a guy robbed at gunpoint. The more popular it gets, the bigger as a target it becomes ;-)
- cwyers 9y agoAdd in all the costs of the Bitcoin infrastructure to Bitcoin's usage, too - exchanges and so on. And then you still have an instrument so unstable that you can't actually buy anything with it; Steam discontinued BTC purchasing recently because the system is unusable for retail. So you still need that fiat money infrastructure to, you know, pay for anything.
- brazzy 9y agoBitcoin loses that comparison, because it cannot become energy efficient. The energy it has to waste in order to continue functioning necessarily scales up with its total value.