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Its an attack by bitcoin's enemies (and those that simply refuse to understand) to decredit it. We see this every so often, especially when there are big price
by rfd4sgmk8u 6y ago
Its an attack by bitcoin's enemies (and those that simply refuse to understand) to decredit it. We see this every so often, especially when there are big price jumps. Standard FUD attack.
This cycle we are seeing: "Mining Concentration", "Based on Nothing" or "My Energy Usage".
I think its a form of therapy for the nocoiners. They can be safe with their delusion that 'thank goodness I didn't get involved in such a shady business! its destroying the planet.', while tradfi continues to commodify their life, and central banks print away their life savings.
- ngokevin 6y agoThat doesn't address the point raised, that's just ad hominem. You could just as well say people that defend bitcoin are just holders enjoying the pumps, claiming decentralization is the reason they hold it versus a likely real reason: wanting personally get rich and multiply their investments.
- rfd4sgmk8u 6y agoBecause the point is not valid. Its not worth addressing for the 7th time. Once you tire of the arguments year after year, and they just repeat, on loop -- you start to question the person that keeps raising it.
- ngokevin 6y ago"they're wrong" is not very convincing. It's not the same person writing the articles, and I'm not the same person you've been responding to over and over.
- aeternum 6y agoThe article raises a false equivalence. The energy consumption of bitcoin is unrelated to the transaction rate. The hashrate is ultimately what secures Bitcoin and is completely independent of transactions processed. A better comparison would be the Bitcoin hashrate vs. the human life, electricity, and resources spent securing gold vaults and other physical assets.