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Don’t move the goalposts. Bitcoin has little economic impact relative to its energy use you wrote. Oh, but it does. Miners created something of value, others bo
by ctdonath 6y ago
Don’t move the goalposts. Bitcoin has little economic impact relative to its energy use you wrote. Oh, but it does. Miners created something of value, others bought with real money substantially greater than the cost of creation - and durable enough to resell indefinitely (with mundane care & handling). The only ones fit to establish “economic relevance” here are those who actually bought Bitcoin, with an estimated total resale value of $650B. Picasso's Les femmes d'Alger was sold for $179.4 million in May 2015; the economic impact of Pablo painting for a few days was indeed enormous. Those vs gaming, where while making/marketing games is profitable the tremendous energy going into playing them produces no lingering resale value of any form.
- boh 6y agoSo no actual arguments then (just more pumper nonsense around prices). If you have no interest in economics, why attempt to pretend you do (see your Pablo reference as an example of why you might've not paid attention in Econ 101). Why not just say: "buy bitcoin because moon money" and move on.