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Given bitcoin is doing about 7 transactions a second, you might have trouble finding a financial institution small enough. I guess a very small hedge fund woul
by stuaxo 6y ago
Given bitcoin is doing about 7 transactions a second, you might have trouble finding a financial institution small enough.
I guess a very small hedge fund would probably cover it, one with about 15-30 people working at the organisation in total, they probably fit in a small office in London.
- ClumsyPilot 6y agoBut is transactions the right metric? Maybe we should compare it by total value, or smth. For example a national gold reserve does even fewer transactions, but it has power, security, etc. National bank doesn't do many transactions. Or lets compare it to something useless, how muxh power is used by casinos. Or better yet: all unused idle devices in the US use more power than bircoin does.
- cbzbc 6y agoCasinos generate significantly more useful economic activity.
- ClumsyPilot 6y agoBankrupt homeless gambing addicts forced into pedaling drugs are good for economy?
- cbzbc 6y agoHundreds of service worker wages are good for the economy. You could argue that they would be better employed elsewhere and I wouldn't disagree, but bitcoin doesn't even meet that standard.
- ClumsyPilot 6y ago"there are just under half a million problem gamblers who have their lives damaged by debt, depression, family breakdown and, in the worst cases, suicide." - that's for uk Drug dealers, brothels and mafia also create job. The economic impact of casinos is clearly negative.
- cbzbc 6y agoNow do the environmental impact of an Argentina's worth of electricity generation.
- ClumsyPilot 6y agoWhy do you have this agenda that you must prove that casinos are better than bitcoin, are you a casino pitbos? Do you have any evidence that casinos consume less power than bitcoin does? In Las Vegas, casinos consume a fifth of all electricity.
- cbzbc 6y agoI'm finding your attempt to avoid dealing with the impact of bitcoin amusing. What are you, a bitcoin investor? In general it's a bad principle to try and justify environmental impact caused by one thing by pointing at environmental impact of another thing.
- cbzbc 6y agoI'm finding your attempt to avoid dealing with the impact of bitcoin amusing. What are you, a bitcoin investor?