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So I can pay my utility company $100 a month for energy I consume, or pay $40000 for a bitcoin representing energy someone else consumed? Got it.
by deprave 5y ago
So I can pay my utility company $100 a month for energy I consume, or pay $40000 for a bitcoin representing energy someone else consumed? Got it.
- bitxbitxbitcoin 5y agoYes. How many ways do you have to reliably monetize a portion of that $100 that goes to the utility company, though? At its core, proof of work (not Bitcoin's anymore because of ASICs), allows that.
- lupire 5y agoI dont need to monetize it, I can keep the $100 and not buy the energy. And it's not "reliable" if I get rug pulled (extemely common) or someone else has a more effcient mining setup (extremely common). Maybe if I'm stuck on inefficient resistive heatong in winter, mining makes sense.
- Scoundreller 5y agoThat’s how much it would take to produce another one. Most cost a much smaller fraction of that.