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It's true that a small minority of people actually have a use (legitimate or not) for bitcoin, but as far as the general public is concerned this is not the cas
by lottin 6y ago
It's true that a small minority of people actually have a use (legitimate or not) for bitcoin, but as far as the general public is concerned this is not the case.
- shawnz 6y agoAnd appropriately it represents a small minority of energy use (~0.6%)
- lottin 6y agoExactly, hoarding bitcoin —not using it— is the problem. It leads to high prices and consequent high environmental impact.
- savingisbadnow 6y agoYou mean saving, which is actually a use contrary to what years of keynesian propaganda have made you think
- nthot 6y ago0.6% is orders of magnitude larger than the percentage of people who have a legitimate use case. In my opinion it's not that coin does not have legitimate uses, it's that the cost of providing those uses far outweighs the benefit by design. The current increase in value and ramping up of energy use is not due to an increase in the usefulness of the coin, but instead on a renewed interest in the game of hot potato that is speculation.