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> It consumes more power than Argentina and has increased 6500% since 2015 without providing any meaningful utility to mankind. - Every member of mankind who c
by lowkey 5y ago
> It consumes more power than Argentina and has increased 6500% since 2015 without providing any meaningful utility to mankind.
- Every member of mankind who chose to invest in Bitcoin for any meaningful length of time would argue it provided immense utility to them. At 150-200 million Hodlers, that is bigger than Japan.
- Every member of mankind who appreciates having an alternative to forced negative interest rates, or random haircuts to bank savings accounts (e.g. Gibraltor) appreciates having Bitcoin as an option
- A store of value that is impervious to the ravages of inflation and operates outside the domain of politicians or central banks is incredibly useful for mankind, but not maybe so useful to those who wish to rule over mankind
Bitcoin is:
- the people’s money
- peer-to-peer digital gold
- rules without rulers
- the hardest reserve currency ever invented (better than gold)
All that and it consumes less energy per year than YouTube or even hairdryers.
> Bitcoin deserves to be a first-tier target for reducing carbon emissions.
No, no it doesn’t
> That doesn’t mean we shouldn’t target other energy consumption too.
Yes, I agree completely - and we should prioritize the biggest and dirtiest energy consumption first if our goal is to address the real problem instead of virtue signaling.
There are a long list of polluting environmentally destructive activities much worse than Bitcoin such as Gold for example. 100% of Gold is strip-mined with non-renewable energy. Maybe we should convince the world’s central banks to dump their gold reserves for Bitcoin. Or maybe shut down the world’s hair dryer production because it uses more energy than Bitcoin.
There’s an idea.