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It's not so different to burning diesel to dig up rocks so you have a chunk of metal to wave around. Which isn't, you'll notice, necessarily a counter argument
by scrumper 9y ago
It's not so different to burning diesel to dig up rocks so you have a chunk of metal to wave around.
Which isn't, you'll notice, necessarily a counter argument to yours.
- DSMan195276 9y agoI would actually argue it is very fundamentally different. Once you've dug up your chucks of metal, trading them with others requires very little extra energy to be expended (Especially if we're going to go all the way to talking about actual cash, which is easy to split-up into smaller denominations). Vs. Bitcoin, which will still require miners to expend the same amount of CPU cycles to keep the network working so you can transfer your Bitcoins to others, even after all of the Bitcoins are mined and the blocks provide no new Bitcoins into the market.
- scrumper 9y agoIt'd be interesting to see a table of 5 year energy cost from inception of a bar of gold vs. equivalent value of Bitcoin, at various #s of transactions.