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So we're just going to ignore that BTC itself can't really be used at all without a giant global supply chain that makes all the computing components it ends up
by AnIdiotOnTheNet 5y ago
So we're just going to ignore that BTC itself can't really be used at all without a giant global supply chain that makes all the computing components it ends up consuming on top of all the electricity it burns?
- bitxbitxbitcoin 5y agoI think the point is that such costs are also ignored when talking about the carbon/technological cost of the dollar. Our current state of centralized finance is impossible without the same giant global supply chain.
- worrycue 5y agoIn the worst case we can just revert to the ways of the pre-computer days though. We will still have a somewhat functioning financial system.
- coralreef 5y agoYou don't need anything extra for Bitcoin. The computers and devices that existed even before Bitcoin was sufficient enough to secure the network. Profits incentivized miners to invest in specialized devices. If Bitcoin's price stood still, hash power would eventually find equilibrium, and no new resources would be invested. But if price keeps going up, of course people chase more coin.