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I like cryptocurrencies but this high electricity usage has kept me away from Bitcoin in the early days. I've since come to forgive Bitcoin for this ridiculous
by cryptica 5y ago
I like cryptocurrencies but this high electricity usage has kept me away from Bitcoin in the early days. I've since come to forgive Bitcoin for this ridiculous energy usage because of how important a problem Bitcoin is solving (the world desperately needs provably scarce, deflationary hard money). It's just unfortunate that people chose to focus on Bitcoin and not some other PoS crypto which uses less electricity... Unfortunately, now there are all sorts of false narratives around how PoW is more secure than PoS and the Bitcoin tribe will not accept any argument which says otherwise, no matter how logical.
I think we are stuck with Bitcoin for now. It's unstoppable. The delusion is too strong. But on the plus side, it will likely solve major economic problems once it reaches mass adoption.
- hihihihi1234 5y agoWhy does the world need deflationary money?
- lfdz 5y ago
- Gwypaas 5y agoTo make the early ones in win.
- deleted 5y ago[deleted]
- cryptica 5y agoSo that the richest people don't have unlimited money. Compounding returns yield unlimited money for those at the top. The real economy does not experience compound growth like the economy of numbers does. Those at the top of the pyramid have unlimited money due to compounding returns facilitated by infinite money printing. So long as the real economy treats those unrealistic numbers as if they represent real economic value, everyone else is enslaved to those at the top.