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No, you’ve missed the point. The money represents energy. You can’t get a bank loan if you only have 10 dollars. You can get a bank loan if you have an income.
by throwaway73838 5y ago
No, you’ve missed the point. The money represents energy. You can’t get a bank loan if you only have 10 dollars. You can get a bank loan if you have an income. The Bitcoin enables you to access money that you could not before. This enables you to invest in better uses of electricity and more efficient means of using it in your home town.
And let me put it to you like this - when you turn on your power, what do you do with it? Well, you use it. You heat your home with it. You cook with it. You turn on your lights with it. What’s the difference if you make money with it? You’re using that energy. It’s really quite simple - in my example, you’re simply using unusable energy, and converting it into money, which you can use to do work.
- ben_w 5y agoNo, you have missed the point. Money, any money, even cryptocurrency, simply does not do what you think it does. If you want stuff then invest in that specific stuff — you should only be investing in or building a financial network when that in particular is what you need, not when you want something else like “electricity” or “food” — and if you’re really going to call out the $10 as a serious number, at that level food is a higher priority than any of the equipment you’d need to take part in even a low-cost digital payments and micro-financing system like M-Pesa (it’s not just banks that do loans!), you certainly shouldn’t be considering paying for random hardware to be installed in a different continent (which is implicit in your scenario)
- throwaway73838 5y agoDude. Ten dollars was an imaginary number. I’m simplifying to make the maths more understandable.
- ben_w 5y agoWhich is what I thought initially, but then you decided to call out that specific number. Thus my previous point about getting loans is still entirely valid.