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>this is why the market settled on gold Gold, which, by the way, has an extraordinarily high energy and environmental cost to extract.
by ur-whale 8y ago
>this is why the market settled on gold
Gold, which, by the way, has an extraordinarily high energy and environmental cost to extract.
- sbenitoj 8y agoThat’s not a bug, it’s a feature — if it were easy to extract (like aluminum), it would have been much more inflationary and thus not a “good” choice for money.
- ur-whale 8y agoI didn't claim it was a bug. I was trying to make the point that all the tree huggers that scream bloody murder because of Bitcoin mining costs never look at the actual environmental cost of existing systems.
- sbenitoj 8y agoAh gotcha, misunderstood your comment — good point!
- creato 8y agoGold is a fringe commodity valued by a similar small subset of the population that values bitcion. And yeah, I'd say that those people are also causing similar problems to bitcoin because they incentivize significant environmental destruction. Even worse than bitcoin, they also increase the costs of real commercial use cases for gold.
- stolsvik 8y ago> Gold is a fringe commodity valued by a similar small subset of the population that values bitcion. https://en.wikipedia.org/wiki/Gold_reserve#Officially_reported_holdings https://en.wikipedia.org/wiki/Gold_reserve#Officially_report...