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Bitcoin is a way of converting externalities into cash with no byproduct.
by iso1631 6y ago
Bitcoin is a way of converting externalities into cash with no byproduct.
- Closi 6y agoI don’t think that’s fair, cash is easy to spend unlike bitcoin.
- darthrupert 6y agoHow do you spend cash farther than you can throw it?
- Closi 6y agoMaybe any of the established global banking and payment providers that allow me to pay for things online significantly quicker and with much lower fees than Bitcoin, without the huge cost to the environment? Or pigeon. Sorry I meant pigeon.
- iso1631 6y agoInternationally what's wrong with transferwise or paypal (for advanced economies that aren't still based on cash and checks)? Or western union? In most countries I know, in-country transfers from bank to bank are free.
- iso1631 6y agoYou generate externalities you don't pay the full price for (namely co2), others pay the price You take those generated bitcoins and sell them for cold hard cash You spend cash
- orky56 6y agoReally? I think bitcoin is a way of accelerating externalities and the byproduct is an arbitrary transfer of wealth obfuscated with the cover of decentralization and value. Mining does not accelerate the development of renewable energy but rather an exploitation of idle resources. P.S. I own crypto including Bitcoin.
- tomjakubowski 6y agoCool. I've got all this toxic industrial waste. I was going to just dump it into a lake. Bitcoin will turn that into pure cold cash, with no byproduct? Awesome.