5 ms·

Why don't people rail like this against the aluminum industry? It's just as wasteful. Bitcoin provides substantial utility and value to society, the energy to s

by tfha 8y ago

Why don't people rail like this against the aluminum industry? It's just as wasteful. Bitcoin provides substantial utility and value to society, the energy to secure bitcoin is a cost just the same as the energy to smelt aluminum.

tirpen 8y ago
> Bitcoin provides substantial utility and value to society Do you have any proof of this dubious statement?
- lozaning 8y ago
  I've been reading through True Names and the various essays that proceed it in it's most recently published edition and I see crypto currencies as the fulfilment of many of the ideas talked about there. Particularly uncensored anonymous value transfers between parties. The idea that you can send "money" to anyone regardless of who you or they are does provide some value. Unlike any other financial transaction system that proceeded it that I'm aware of, you can't be deplatformed from crypto. How valuable you find this likely coincides with the value you place in the ideas of crypto (the original definition) anarchy.
  - rootlocus 8y ago
    > I see crypto currencies as the fulfilment of many of the ideas talked about there. As it stands, crypto currencies are a promise, not a fulfillment. They will become a fulfillment after they actually solve those problems. But it's a long way from theory to practice, even after all the technology is deployed.
  - belltaco 8y ago
    Here's a well reasoned essay by Bruce Schneiner about why cryptocurrencies are useless. https://www.schneier.com/blog/archives/2019/02/blockchain_and_.html https://www.schneier.com/blog/archives/2019/02/blockchain_an...
nightfly 8y ago
Aluminum is infinitely more useful than bitcoin.
rootlocus 8y ago
> Bitcoin provides substantial utility and value to society Only for speculation and money laundering. Bitcoin's exaggerated volatility makes it unusable as a currency. If it would you wouldn't be making fun of the guy who spent N bitcoins on 2 pizzas instead of holding it. And conversely, if everyone would hold bitcoin, it wouldn't bring any utility to society.
- deleted 8y ago
  [deleted]
ncallaway 8y ago
> Bitcoin provides substantial utility and value to society Equating the cost of Bitcoin and aluminum doesn't seem like a sound argument unless you can also equate the value (or show that they are approximately close. Could you credibly claim Bitcoin brings the nearly the same value to society that aluminum does?
mprev 8y ago
Aluminium smelting results in aluminium. You can make stuff with aluminium. Bitcoin mining results in heat, both literal and metaphorical.
village-idiot 8y ago
Because I own things made out of aluminum....

by tfha 8y ago

tirpen 8y ago

> Bitcoin provides substantial utility and value to society Do you have any proof of this dubious statement?

lozaning 8y ago
I've been reading through True Names and the various essays that proceed it in it's most recently published edition and I see crypto currencies as the fulfilment of many of the ideas talked about there. Particularly uncensored anonymous value transfers between parties. The idea that you can send "money" to anyone regardless of who you or they are does provide some value. Unlike any other financial transaction system that proceeded it that I'm aware of, you can't be deplatformed from crypto. How valuable you find this likely coincides with the value you place in the ideas of crypto (the original definition) anarchy.
- rootlocus 8y ago
  > I see crypto currencies as the fulfilment of many of the ideas talked about there. As it stands, crypto currencies are a promise, not a fulfillment. They will become a fulfillment after they actually solve those problems. But it's a long way from theory to practice, even after all the technology is deployed.
- belltaco 8y ago
  Here's a well reasoned essay by Bruce Schneiner about why cryptocurrencies are useless. https://www.schneier.com/blog/archives/2019/02/blockchain_and_.html https://www.schneier.com/blog/archives/2019/02/blockchain_an...

nightfly 8y ago

Aluminum is infinitely more useful than bitcoin.

rootlocus 8y ago

> Bitcoin provides substantial utility and value to society Only for speculation and money laundering. Bitcoin's exaggerated volatility makes it unusable as a currency. If it would you wouldn't be making fun of the guy who spent N bitcoins on 2 pizzas instead of holding it. And conversely, if everyone would hold bitcoin, it wouldn't bring any utility to society.

deleted 8y ago
[deleted]

ncallaway 8y ago

> Bitcoin provides substantial utility and value to society Equating the cost of Bitcoin and aluminum doesn't seem like a sound argument unless you can also equate the value (or show that they are approximately close. Could you credibly claim Bitcoin brings the nearly the same value to society that aluminum does?

mprev 8y ago

Aluminium smelting results in aluminium. You can make stuff with aluminium. Bitcoin mining results in heat, both literal and metaphorical.

village-idiot 8y ago

Because I own things made out of aluminum....