5 ms·

Supply steady. Demand exponential increase due to cryptocurrencies. Blame whomever you wish.

gtsop 5y ago
I just don't get why people hide behind their finger. This is capitalism 101. You either like it and go by it or dislike it and try to change it. For some reason X the demand for product Y has increased which leads to price bump. If you are pro capitalist economy then you just accept it for what it is. If you don't like it then discuss alternate economies. The rules of the economy are the ones to blame, not the people who play by the rules.
- lottin 5y ago
  It probably has something to do with the fact that crypto is perceived as having no social value, and therefore people are less inclined to accept negative consequences that may result from such an activity.
  - gtsop 5y ago
    Yes this is probably it. But if we walk down that route, what prevents anyone from having a say into what everybody else does with their products. Eg: If think there is no social value in crafting wooden cups, do I have a say in what you do with your purchased wood?
    - lottin 5y ago
      Not you, as an individual, but as a society, absolutely. There are plenty of laws that regulate or forbid certain activities.
      - gtsop 5y ago
        Surely, but are we going to discuss making mining illegal because it drives up gpu prices?
        lottin 5y ago
        It's already been banned in various countries, including a number of US towns.
        gtsop 5y ago
        Really? I was totally not aware of that, do you have a resource?
        lottin 5y ago
        Check this out: https://www.theverge.com/2018/3/16/17128678/plattsburgh-new-york-ban-cryptocurrency-mining https://www.theverge.com/2018/3/16/17128678/plattsburgh-new-... https://www.govtech.com/policy/washington-utility-will-uphold-its-cryptocurrency-mining-moratorium.html https://www.govtech.com/policy/washington-utility-will-uphol...
        gtsop 5y ago
        Interesting. This seems to be concerned with grid electricity consumption which is kinda reasonable

I just don't get why people hide behind their finger. This is capitalism 101. You either like it and go by it or dislike it and try to change it. For some reason X the demand for product Y has increased which leads to price bump. If you are pro capitalist economy then you just accept it for what it is. If you don't like it then discuss alternate economies. The rules of the economy are the ones to blame, not the people who play by the rules.

lottin 5y ago
It probably has something to do with the fact that crypto is perceived as having no social value, and therefore people are less inclined to accept negative consequences that may result from such an activity.
- gtsop 5y ago
  Yes this is probably it. But if we walk down that route, what prevents anyone from having a say into what everybody else does with their products. Eg: If think there is no social value in crafting wooden cups, do I have a say in what you do with your purchased wood?
  - lottin 5y ago
    Not you, as an individual, but as a society, absolutely. There are plenty of laws that regulate or forbid certain activities.
    - gtsop 5y ago
      Surely, but are we going to discuss making mining illegal because it drives up gpu prices?
      - lottin 5y ago
        It's already been banned in various countries, including a number of US towns.
        gtsop 5y ago
        Really? I was totally not aware of that, do you have a resource?
        lottin 5y ago
        Check this out: https://www.theverge.com/2018/3/16/17128678/plattsburgh-new-york-ban-cryptocurrency-mining https://www.theverge.com/2018/3/16/17128678/plattsburgh-new-... https://www.govtech.com/policy/washington-utility-will-uphold-its-cryptocurrency-mining-moratorium.html https://www.govtech.com/policy/washington-utility-will-uphol...
        gtsop 5y ago
        Interesting. This seems to be concerned with grid electricity consumption which is kinda reasonable