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You stated, "We all LIKE that current system... " Who is the "we all" you speak of? Its certainly not me (I've had far too many frustrating, expensive, time-co

You stated, "We all LIKE that current system... " Who is the "we all" you speak of? Its certainly not me (I've had far too many frustrating, expensive, time-consuming problems with the legacy banking/financial system), and I have lots of friends and acquaintances who are not at all content with the tyrannical "know your customer" regulations. Banks have been deputized to act as police, and at least in the EU, laws were passed protecting banks that legally allow banks to skim off their clients funds if the banks face serious crises (and that's even discounting what they steal from folks via designing for inflation)---thanks, but no thanks. That's legalized theft! Beyond that, our mainstream debt-based monetary systems encourage and pressure everyone to spend more than they earn, funded by debt, chasing ever-cheaper consumer goods. This growth at all costs trashes the environment far more that a sound monetary system would. So, perhaps the wider long-term effects of bitcoin existing as the worlds hardest money yet[0] would be production of higher quality long-term goods rather that cheap environmentally costly debt-funded junk. That possibility is independent of a bitcoin/solar/battery synergy such as suggested in the article's model. I find the idea that sound money may result in more economically competitive renewable energy fascinating. I wonder if a similar model could apply to other intermittent renewable energy sources?

Hermio 5y ago
"we all" references here my parents, my siblings and probably all people around me. I don't mean to use like as love, but no one complains about it. When i talk about crypto, people do prefer to have their money at the bank where they can use it versus in bitcoin where it could just disappear by loosing their wallet. I have never heard of banks stealing money. Do you have a src for this? I'm aware that there is a bank insurance for your money as long as you are in the EU (around 100.000,- Euros protected by the central bank) but in Germany i never heard of money gotten stolen from banks? I personally don't have debt and i do think its a good think to be able to get debt when investing it in something like a house. But i can't follow your argument here again, how would that be gone with bitcoin? People would just start borrowing bitcoin, or not? The big issue still is here: for Bitcoin we produce currently co2 from producing and consuming over 100twh. Bitcoin has a higher energy consumption than googles datacenter. We are now trying to get our co2 output to zero 2050 or so which we have to do. Everthing which produces more co2 adds to the issue. We have to invest in renewable energy without bitcoin and germany did this a few years back. Right now solar energy is the cheapest energy you can produce and on the other side, there is now a power plant in NY which runs 24/7 because it can mine for bitcoins and before that it was not feasable and no one is forcing those people doing this to reinvest their earnings in removing that additional co2 again. They probably consume more as they just spend it

Hermio 5y ago

"we all" references here my parents, my siblings and probably all people around me. I don't mean to use like as love, but no one complains about it. When i talk about crypto, people do prefer to have their money at the bank where they can use it versus in bitcoin where it could just disappear by loosing their wallet. I have never heard of banks stealing money. Do you have a src for this? I'm aware that there is a bank insurance for your money as long as you are in the EU (around 100.000,- Euros protected by the central bank) but in Germany i never heard of money gotten stolen from banks? I personally don't have debt and i do think its a good think to be able to get debt when investing it in something like a house. But i can't follow your argument here again, how would that be gone with bitcoin? People would just start borrowing bitcoin, or not? The big issue still is here: for Bitcoin we produce currently co2 from producing and consuming over 100twh. Bitcoin has a higher energy consumption than googles datacenter. We are now trying to get our co2 output to zero 2050 or so which we have to do. Everthing which produces more co2 adds to the issue. We have to invest in renewable energy without bitcoin and germany did this a few years back. Right now solar energy is the cheapest energy you can produce and on the other side, there is now a power plant in NY which runs 24/7 because it can mine for bitcoins and before that it was not feasable and no one is forcing those people doing this to reinvest their earnings in removing that additional co2 again. They probably consume more as they just spend it