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"All things use electricity!" isn't a great critique of "Bitcoin is an inefficient use of electricity". Bitcoin is designed to be inefficient and get worse over
by tapoxi 5y ago
"All things use electricity!" isn't a great critique of "Bitcoin is an inefficient use of electricity". Bitcoin is designed to be inefficient and get worse over time.
- rbanffy 5y ago> Bitcoin is designed to be inefficient and get worse over time. OTOH, we may be able to use it to heat Mars into a tropical paradise.
- jkhdigital 5y agoIt's not as if Bitcoin does something inefficiently that is accomplished in some other, more efficient way. "Commodity" money which has no counterparty is going to be valued at the marginal cost of production, period. It's not Visa, it's not FedWire, it's hard money. The critique is actually spot on, because when you peel back the non sequiturs about efficiency the underlying criticism is that Bitcoin itself is pointless. Maybe so, maybe not. But that's a different argument.
- aaaaaaaaata 5y agoYou'd better start working on a more efficient Layer 2 if you truly care about this issue, because this shit isn't going back in the box. Governments are piling in, nobody meaningful is going to ban it, because they cannot.