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I agree. How much waste do fiat currencies generate protecting their themselves with standing armies (or the alliances with a country that has one)? Far more th
by superkuh 6y ago
I agree. How much waste do fiat currencies generate protecting their themselves with standing armies (or the alliances with a country that has one)? Far more than the amount of energy used to secure bitcoin currency against other nation states using proof of work.
- wwtrv 6y agoIregardless of what ones opinion on maintaining standing armies might be usually it creates significant added value (unlike mining bitcoin) for the economy. All those people in the military or working in industries producing for the military have to be paid etc.
- eeZah7Ux 6y agoAll traditional currencies are backed by military might and the constant threat of war. If a cryptocurrency could decrease such centralization of power and consequent waste of human lives, money and energy it would be excellent. However, bitcoin has no mechanism to democratize banking - on the contrary, the more wealth you have the more mining you can afford doing. This makes the whole conversation fall into whataboutism.