3 ms·

It is year 2021 and people still think Bitcoin is boiling the oceans. Bitcoin is the greenest think on this planet. Economic empowerment it brings to individual

by naraga 6y ago

It is year 2021 and people still think Bitcoin is boiling the oceans. Bitcoin is the greenest think on this planet. Economic empowerment it brings to individual together with energy extraction innovations is just beyond imagination of most people in this forum.

iagovar 6y ago
There are literally thousands of alternatives to Bitcoin, who bring the same "economic empowerment". I can get instant, zero comission transfers with Nano, without banks. I assume there are many other cryptos like this one. As skeptic I am about the survival of cryptos to regulators and big whales, I am actually using Nano to transfer money to people in LATAM, but as far as it becomes volatile or if it changed and had feeds, I'd just abandon it. What's the point of bitcoin now, seriously. POW, very slow, very high transactions fees... ¿What does Bitcoin bring to the table? "Adoption" one would say, but no one is using Bitcoin to pay for anything, so the crypto enthusiasts changed the narrative to "store of value". There are far better choices than bitcoin in and out of the crypto ecosystem for pretty much every use-case you can imagine. And the only reasons Bitcoin isn't in the ground it's because there's a lot of people invested with hope of selling for a profit.
- naraga 6y ago
  Overcoming censorship is not possible in a PoS system, as the censor has acquired majority stake and cannot be unseated. https://github.com/libbitcoin/libbitcoin-system/wiki/Proof-of-Stake-Fallacy https://github.com/libbitcoin/libbitcoin-system/wiki/Proof-o...
qertoip 6y ago
100%.
karpour 6y ago
Ah yes, the greenest "think" on the planet, consuming 130TWh of energy per year and rising. Do you even think what you write? We don't need Bitcoin, global energy usage rises without Bitcoin as well. But sure, go live in your little bubble where Bitcoin is the currency that solves all of society's problems, will forever rise in value and save the planet!
- naraga 6y ago
  Energy consumption != carbon footprint
  - karpour 6y ago
    Oh, I forgot that bitcoin mining hardware just magically appears and never ends up on a landfill, power plants don't need to be built and maintained, and of course Bitcoin is probably 100% powered by renewables, right?
    - naraga 6y ago
      Definitely not 100% but getting there. Current estimates are 40-70% Also, thanks to the nature of mining, you can setup operation close to source (not destroying land by energy transport) of energy. Like these guys employ energy that would be otherwise wasted https://gam.ai/our-mission.html https://gam.ai/our-mission.html

by naraga 6y ago

iagovar 6y ago

There are literally thousands of alternatives to Bitcoin, who bring the same "economic empowerment". I can get instant, zero comission transfers with Nano, without banks. I assume there are many other cryptos like this one. As skeptic I am about the survival of cryptos to regulators and big whales, I am actually using Nano to transfer money to people in LATAM, but as far as it becomes volatile or if it changed and had feeds, I'd just abandon it. What's the point of bitcoin now, seriously. POW, very slow, very high transactions fees... ¿What does Bitcoin bring to the table? "Adoption" one would say, but no one is using Bitcoin to pay for anything, so the crypto enthusiasts changed the narrative to "store of value". There are far better choices than bitcoin in and out of the crypto ecosystem for pretty much every use-case you can imagine. And the only reasons Bitcoin isn't in the ground it's because there's a lot of people invested with hope of selling for a profit.

naraga 6y ago
Overcoming censorship is not possible in a PoS system, as the censor has acquired majority stake and cannot be unseated. https://github.com/libbitcoin/libbitcoin-system/wiki/Proof-of-Stake-Fallacy https://github.com/libbitcoin/libbitcoin-system/wiki/Proof-o...

qertoip 6y ago

100%.

karpour 6y ago

Ah yes, the greenest "think" on the planet, consuming 130TWh of energy per year and rising. Do you even think what you write? We don't need Bitcoin, global energy usage rises without Bitcoin as well. But sure, go live in your little bubble where Bitcoin is the currency that solves all of society's problems, will forever rise in value and save the planet!

naraga 6y ago
Energy consumption != carbon footprint
- karpour 6y ago
  Oh, I forgot that bitcoin mining hardware just magically appears and never ends up on a landfill, power plants don't need to be built and maintained, and of course Bitcoin is probably 100% powered by renewables, right?
  - naraga 6y ago
    Definitely not 100% but getting there. Current estimates are 40-70% Also, thanks to the nature of mining, you can setup operation close to source (not destroying land by energy transport) of energy. Like these guys employ energy that would be otherwise wasted https://gam.ai/our-mission.html https://gam.ai/our-mission.html