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> the fiat inflation system which has created all the wealth inequality in much of the world. > The system that lets politicians buy power and escape responsib
by afarrell 5y ago
> the fiat inflation system which has created all the wealth inequality in much of the world.
> The system that lets politicians buy power and escape responsibility for violating rights.
Wouldn’t it be more energy-efficient to just go back to golden years before William Jennings Bryan’s 1896 presidential campaign?
Can you think of historical examples of dramatic wealth inequality or misuse of political power? As surely as the Dalai Llama is Catholic, history shows us that empires and robber-barons were vanishingly rare before Bretton Woods.
- cyphertruck 5y agoYour statement about history is probably correct, but I don't agree about energy efficiency. Bitcoin is more energy efficient than gold. Most bitcoin power use is waste power— eg power generated which exceeds instantaneous demand, and bitcoin’s entire power usage is still 1/6th of what is currently thrown away... if bitcoin ever fails to deliver utility beyond its power cost, the network will reduce mining because mining will no longer be profitable. Cheers!
- mrpopo 5y agoWhat you're saying about bitcoin power use is just not true. https://www.bloomberg.com/news/videos/2021-03-04/china-s-inner-mongolia-declares-war-on-crypto-mining-video https://www.bloomberg.com/news/videos/2021-03-04/china-s-inn...