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If I have Bitcoin how do I convert it into energy to power something else?
by bathtub365 6y ago
If I have Bitcoin how do I convert it into energy to power something else?
- danboarder 6y agoBy purchasing electricity with Bitcoin.
- ForHackernews 6y agoBy this logic, dollar bills make a much better "battery".
- vntok 6y agoNot really because the Dollar bills battery keeps discharging at the inflation rate.
- yjftsjthsd-h 6y agoRight, because BTC value never goes down.
- bingbong70 6y agoNGU - "Number Go Up" technology is one of Bitcoin's most interesting & unique attributes. Few here understand.
- vletal 6y ago> Few here understand. Sounds like a catch phrase from an "alternative" news site or a thing a member of a religious cult would say.
- wavefunction 6y agoI can at least light a dollar on fire for some small measure of warmth!
- danboarder 6y agoPerhaps an equally good "battery", this is the principal of fungibility as a currency. Given the built-in halving structure of bitcoin, in the long run bitcoin may "store" or buy more electricity relative to the dollar that has inflationary pressure (USD tends to lose 3%/yr in real value due to inflation).
- Retric 6y agoMoney doesn’t buy electricity in a blackout. That’s the difference between an abstraction and the underlying reality.
- WrtCdEvrydy 6y agoIt does actually, thousands in Texas had no electricity while I did. Cost me 1/5 of a Bitcoin.
- Retric 6y agoI think you misunderstood. I had electricity just fine during the storm due to the wonders of working infrastructure and thus not being in a blackout. But, for those without power due to a blackout, you can’t simply spend money and instantly turn the lights back on. You can either have already spent money to have backup power, or you have a problem. It’s like breathing, if your drowning spending money to be able to breath in 2 hours is useless you need air now. Which is why electric grid operators need infrastructure not money to avoid causing blackouts.
- selectodude 6y agoDid your electricity provider accept Bitcoin?
- bingbong70 6y agoWhoever sells generators in an outage definitely will accept your bitcoin pre/post conversion.
- lottin 6y agoWhat if I buy gold with it? Does it mean I have turned electricity into gold?
- MauranKilom 6y agoThen Bitcoin stores no energy whatsoever. If I purchase the same amount of electricity with $, or with gold, or with seashells instead of Bitcoin, there will be no difference on the side of the electricity supplier. Aside from, of course, Bitcoin potentially affecting electricity prices.