3 ms·
Arguments like 'is bitcoin a battery or not' reduce the complexity of bitcoin down to meaningless binary noise. It's a new thing entirely, there's no analogy th
by heurist 6y ago
Arguments like 'is bitcoin a battery or not' reduce the complexity of bitcoin down to meaningless binary noise. It's a new thing entirely, there's no analogy that will effectively describe it.
I have seen effective points made on both sides of the electricity usage argument. There is certainly a strong incentive to use the lowest cost energy to mine, and there is significant waste in energy production that is beginning to be harvested for bitcoin rather than lost entirely. I might be buying into the propaganda, who knows.
However, the more I learn about bitcoin, the more I believe it will be around for a very long time. I'd rather debate how to use the wealth that it is generating to develop more sustainable economies than argue over terminology. Let's build walkable cities that don't need cars, where the buildings are dense and energy-efficient, renewable energy production is distributed and owned by communities, and locally grown food is abundant. The value bitcoin is storing needs to be put to work eventually. The systems to do this are starting to come into place, there's no new technology needed.
- dalbasal 6y agoThis article isn't trying to define bitcoin, and neither is the article it's refuting. It's not about terminology at all. This article is about how energy economics of bitcoin currently work. Quite an interesting topic, besides the headline.