4 ms·
my favourite benefit of bitcoin is how it uses the entire energy output of yemen to send someone five bucks
by hbag 5y ago
my favourite benefit of bitcoin is how it uses the entire energy output of yemen to send someone five bucks
- BLKNSLVR 5y agoMy favourite benefit of Bitcoin is bypassing the hideously inefficient and corrupt Wall Street financial vampiric system that provided the world with the Global Financial Crisis for which it suffered the punishment of being given billions of dollars by the US Government. Each to their own I guess.
- hbag 5y agoyeah im sure accelerating the planet turning into an uninhabitable wasteland is really worth it just to stick it to the man, you fucking troglodyte
- BLKNSLVR 5y agoPlease get some perspective. Read more actual facts and data from various different angles, you've obviously dived deep into one side with little consideration for any other. You give me the kind opportunity to quote a favourite lyric of mine: The do-er and the thinker: no allowance for the other Thick as a Brick, Jethro Tull[0] [0]: http://www.collecting-tull.com/Albums/Lyrics/ThickAsABrick.html http://www.collecting-tull.com/Albums/Lyrics/ThickAsABrick.h...
- hbag 5y agonothing screams 'efficiency' like everyone participating in the network having to write to an append-only ledger every time any transaction whatsoever happens im sure thats FAR more efficient than banks, right? i hate banks as much as the next guy but good fucking lord is bitcoin terrible
- tgsovlerkhgsel 5y agoThe append-only ledger is surprisingly efficient, to the point where you can process the entire thing on a decent laptop in a couple days. And judging the costs bank are able to charge for international wires, even when comparing them to the horrendous fees for Bitcoin (Core, BTC) on-chain transactions, I'm not convinced Bitcoin is that much less efficient.
- dang 5y agoPlease don't respond to a bad comment by breaking the site guidelines yourself. That's exactly the opposite of what we want here. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- maccolgan 5y agoYes it is.
- hbag 5y agoyeah at least when we're all dying in the fucking water wars you'll be able to sit on your high horse talking about how you actively contributed to it but HEY! at least you didn't support the BANKS! eat my shit and hair
- dang 5y agoPlease stop posting unsubstantive and/or flamebait comments to HN. It's not what this site is for. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- dang 5y agoAttacking another user like this (edit: and https://news.ycombinator.com/item?id=28567074 https://news.ycombinator.com/item?id=28567074 - yikes!) will get you banned here, regardless of how wrong they are or you feel they are. Whether or not you owe that person better, you definitely owe this community better if you're posting to it—much better. So no more of this, please—we're trying to have an internet forum that doesn't burn itself to a crisp. If you wouldn't mind reviewing https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html and taking the intended spirit of the site more to heart, we'd be grateful.
- thesausageking 5y agoYou know that's not true, right? 1) The Yemen number is for the whole system. The energy to send one transaction is tiny and much smaller than using the existing remittances system. 2) With a bank, it's not even clear you could send $5 to Yemen as there's a civil war going on. And if you did find a money transfer company willing to do it, it would be very expensive. With Bitcoin, as long as the person in Yemen has a phone and can get online, you can send them any amount, it will cost ~$2, and take minutes to do.
- k4rli 5y agoMy favorite benefit is paying $10 in transaction fees for five bucks and then having to wait hours for confirmations.