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Have you considered that they wouldn’t be trying to turn electricity into money and might be making money some other way?
by zepto 6y ago
Have you considered that they wouldn’t be trying to turn electricity into money and might be making money some other way?
- SwimSwimHungry 6y agoAnd to your point, likely a way that doesn't have global implications? Even other bubbles of the past didn't have quite the reach that the likes of Bitcoin has (maybe with the exception of the entire stock market in the Roaring 20s leading right up to the crash of 1929). That's why this time, this is much more dangerous in the long run.
- spiorf 6y agoWhat about the hypotesis that a global shared ledger under no-one's control with thermodynamical guarantee of immutability actually has some value?
- kortilla 6y agoThere is no thermodynamic guarantee in Bitcoin.
- SwimSwimHungry 6y agoLast I checked too, Bitcoin is not quantum safe either.
- tshaddox 6y agoMaking money without using electricity? I suppose that’s not impossible, but it sounds unlikely at any appreciable scale.
- zepto 6y agoTurning electricity into money is different from using some electricity while you make money.
- tshaddox 6y agoI fail to see the distinction. Bitcoin mining, just like farming, traditional mining, etc. doesn’t literally have electricity as its only input.
- zepto 6y ago> I fail to see the distinction. Bitcoin mining, just like farming, traditional mining, etc. doesn’t literally have electricity as its only input. If your are referring to the wasted hardware, then sure, but once the equipment is in place, Bitcoin mining itself does in fact have electricity as the only input.