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The thing is, Bitcoin is becoming the new gold, not the new money. Gold is energy/capital expensive to mine which is related to its property as a store of value
by kruxigt 6y ago
The thing is, Bitcoin is becoming the new gold, not the new money. Gold is energy/capital expensive to mine which is related to its property as a store of value. Just as most of the gold now in the world took great effort to mine, so maybe must bitcoin. Maybe there could be a better way, maybe not. It is clear that it's not a good idea to have money which requires large amounts of energy for circulating, but it could be that a reasonable way to create the "gold" base for digital money is the energy expensive way that is the path chosen by Bitcoin. Maybe not.. or maybe. Other ideas?