3 ms·

> * power usage > * environmental issues Might want to take a gander at who is really using all that energy mining Bitcoin: https://www.statista.com/statistic

by xienze 6y ago

> * power usage > * environmental issues Might want to take a gander at who is really using all that energy mining Bitcoin: https://www.statista.com/statistics/1200477/bitcoin-mining-by-country/ https://www.statista.com/statistics/1200477/bitcoin-mining-b... The environmental impact argument to me seems like more of the same: China wastes energy and pollutes on a massive scale and western countries are the ones getting a stern talking to. Give me a break, it’s a convenient argument, but at the end of the day Bitcoin is a way for regular citizens to (mostly) keep the government’s hands off their wealth.

Luker88 6y ago
bitcoin can still work on PoS, we should stop thinking it as a single, unmovable, un-updatable thing. A switch to PoS like ETH2 is not going to make it lose value, decentralization and might even be an opportunity to go beyond the ridiculous 4-7 transactions/sec limit. Going beyond the 4-7 transaction/sec would make so that exchanges stop asking you to give up control of the money, thus making it even more decentralized. I see only positive benefits in switching to Pos. Lose nothing, gain everything
TomatoDash 6y ago
> Bitcoin is a way for regular citizens to (mostly) keep the government’s hands off their wealth. What is the evidence for the "regular citizens" claim? Is there data on which social groups are over-/underrepresented in Bitcoin holding compared to non-Bitcoin wealth holding? My guess is that groups low in regular wealth/income are disproportionally low in Bitcoin wealth. Government activities such as defense, education and infrastructure will still need funding. If some resource A shifts to Bitcoin and, assuming for argument, thereby becomes non-taxable won't some other non-Bitcoin resource B be taxed instead, with no net "hands off" effect?

3 ms·

> * power usage > * environmental issues Might want to take a gander at who is really using all that energy mining Bitcoin: https://www.statista.com/statistic

by xienze 6y ago

Luker88 6y ago
bitcoin can still work on PoS, we should stop thinking it as a single, unmovable, un-updatable thing. A switch to PoS like ETH2 is not going to make it lose value, decentralization and might even be an opportunity to go beyond the ridiculous 4-7 transactions/sec limit. Going beyond the 4-7 transaction/sec would make so that exchanges stop asking you to give up control of the money, thus making it even more decentralized. I see only positive benefits in switching to Pos. Lose nothing, gain everything
TomatoDash 6y ago
> Bitcoin is a way for regular citizens to (mostly) keep the government’s hands off their wealth. What is the evidence for the "regular citizens" claim? Is there data on which social groups are over-/underrepresented in Bitcoin holding compared to non-Bitcoin wealth holding? My guess is that groups low in regular wealth/income are disproportionally low in Bitcoin wealth. Government activities such as defense, education and infrastructure will still need funding. If some resource A shifts to Bitcoin and, assuming for argument, thereby becomes non-taxable won't some other non-Bitcoin resource B be taxed instead, with no net "hands off" effect?