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Crypto eats the world now if you like it or not. The climate will be fine, because newer systems don’t burn excessive energy. But the CCP fighting the tide is g

by gfodor 5y ago

Crypto eats the world now if you like it or not. The climate will be fine, because newer systems don’t burn excessive energy. But the CCP fighting the tide is great news, since communist regimes usually fall by trying to clamp down on things beyond their control.

hh3k0 5y ago
China is not a communist country, their economic system has been state capitalism ever since the official introduction of the 中国特色社会主义 theory in 1987.
- gfodor 5y ago
  Haha. https://www.wsj.com/articles/xi-jinping-aims-to-rein-in-chinese-capitalism-hew-to-maos-socialist-vision-11632150725?redirect=amp#click=https://t.co/ofxPHC3Lc8 https://www.wsj.com/articles/xi-jinping-aims-to-rein-in-chin...
- ravenstine 5y ago
  These terms for economic theory are, for all intents and purposes, completely useless. Has there ever been a communist country that lasted 5 minutes without a form of capital? Was the American economy ever a "free market"? While I agree that China isn't communist in the term's strictest sense, it ultimately doesn't matter. Systems that can't adapt eventually collapse, which is why no one word can really describe economic systems or their nations. I've been told on HN that what I'm saying is a "no true scotsman" fallacy, yet when people insist that America has "free market capitalism" or that China is communist because CCP has "communist" in the name, they're essentially making an only-true scotsman fallacy. Personal freedoms aside, it all comes down to is how involved a government is with its private sector how much value it extracts (overtly or covertly). Everything else is fluff. Nobody really cares about personal freedom or "owning the means of production". It's all about the level of centralized control (the input) and where the energy of that system goes (the output). To say that anything is "communist" or "capitalist" is a dismissal of the inevitable nuance.
c0nducktr 5y ago
The climate is unlikely to be fine, regardless of whether or not crypto mining is banned. At this point we're just affecting just how bad it's going to get.
- gfodor 5y ago
  I agree I chose the words poorly: my point is the long term risk to the climate posed by crypto seems marginal given the tech trends and incentives.

by gfodor 5y ago

hh3k0 5y ago

China is not a communist country, their economic system has been state capitalism ever since the official introduction of the 中国特色社会主义 theory in 1987.

gfodor 5y ago
Haha. https://www.wsj.com/articles/xi-jinping-aims-to-rein-in-chinese-capitalism-hew-to-maos-socialist-vision-11632150725?redirect=amp#click=https://t.co/ofxPHC3Lc8 https://www.wsj.com/articles/xi-jinping-aims-to-rein-in-chin...
ravenstine 5y ago
These terms for economic theory are, for all intents and purposes, completely useless. Has there ever been a communist country that lasted 5 minutes without a form of capital? Was the American economy ever a "free market"? While I agree that China isn't communist in the term's strictest sense, it ultimately doesn't matter. Systems that can't adapt eventually collapse, which is why no one word can really describe economic systems or their nations. I've been told on HN that what I'm saying is a "no true scotsman" fallacy, yet when people insist that America has "free market capitalism" or that China is communist because CCP has "communist" in the name, they're essentially making an only-true scotsman fallacy. Personal freedoms aside, it all comes down to is how involved a government is with its private sector how much value it extracts (overtly or covertly). Everything else is fluff. Nobody really cares about personal freedom or "owning the means of production". It's all about the level of centralized control (the input) and where the energy of that system goes (the output). To say that anything is "communist" or "capitalist" is a dismissal of the inevitable nuance.

c0nducktr 5y ago

The climate is unlikely to be fine, regardless of whether or not crypto mining is banned. At this point we're just affecting just how bad it's going to get.

gfodor 5y ago
I agree I chose the words poorly: my point is the long term risk to the climate posed by crypto seems marginal given the tech trends and incentives.