>What, you mean the simplified world ideologies don't hold up in practice to the real world? What kind of craziness is this? Your derogatory tone is uncalled f

>What, you mean the simplified world ideologies don't hold up in practice to the real world? What kind of craziness is this? Your derogatory tone is uncalled for, nothing in my comment was pro-crypto. Stashing of small to moderate currency against a low-quality government or mafia (via the conversion of electricity) seems like one good use case of currencies. If this isn't the case, it would be genuinely interesting to know why. > ...you should expect to spend something like 95¢ in electricity to make $1 of bitcoin Got a quote for this 95% figure? Yes, I understand efficient markets. Presumably, a lot of the value of crypto is amortized from the hardware. > When you look at that kind of power draw, Your criticism relies on two unstated assumptions. 1. Large scale. If I can stash a small rig somewhere, then I can produce currency. This process doesn't require scale or major investment, so you could mine at a small enough scale to be below notice (see also: black markets). This seems like a viable way to save funds at a personal/family level. 2. Has electricity prices risen correspondingly with inflation? I would expect in a dev country electricity is subsidized or small relative to other living costs. The same energy it takes to run a home I could generate a few bucks here. A few bucks in our country is incredibly valuable right now in V.