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Look at the distribution of Bitcoin. Do you think it's any different? A small number of people (I'm excluding the exchanges here) controll the majority of the b
by robjan 6y ago
Look at the distribution of Bitcoin. Do you think it's any different? A small number of people (I'm excluding the exchanges here) controll the majority of the bitcoins.
- solosoyokaze 6y agoCorrect, but the properties of Bitcoin are baked into the protocol and not up for policy debate. The Bitcoin Core people can't get together and cause massive inflation, wiping out everyone's savings and lowering the value of their salaries. Most importantly, no military is needed to secure the value of BTC. The US is in a constant state of warfare to keep its position on the top of the world hierarchy, which is what gives USD the value it has. I'll take a GPU mining in Iceland over a bomb dropped in the Middle East as the backing to my finances any day of the week.
- titzer 6y ago> I'll take a GPU mining in Iceland over a bomb dropped in the Middle East as the backing to my finances any day of the week. This is a false choice, clearly. But regardless, I don't think you're properly accounting for how bad of an externality climate change is, and the (completely unnecessary) CO2 emissions from mining bitcoins is directly linked to a whole future of bad things happening, not just a single bomb.