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> bitcoin is energy money Bitcoin isn't energy anything. The energy required to print bitcoins has been expended in the process of printing the bitcoins.
by lottin 5y ago
> bitcoin is energy money
Bitcoin isn't energy anything. The energy required to print bitcoins has been expended in the process of printing the bitcoins.
- anonporridge 5y agoNo. The energy is expended to create the strongest immutability guarantee and DDOS resistance of any distributed system ever created by humanity. Distribution of new coins and transactions fees are simply the reward for that service.
- lottin 5y ago> The energy is expended It certainly is.
- anonporridge 5y agoYep. Just like the energy used to pump my heart and charge my brain is expended. Everything worth doing costs energy.
- verdverm 5y agoIt takes energy to do things, not all of those things are worth doing
- anonporridge 5y agoTrue, and I and millions of others have decided that bitcoin mining is worth doing. Who are you to tell us it's not? Are you going to kill us to stop us from using energy in this way? When you start talking about policing how people use energy, you start down a very dark path.
- bb88 5y agoRight, value has been removed from BTC and sent to the energy companies mostly.
- lottin 5y agoExactly, miners are paid in bitcoin but they need to pay the electricity bills with real money. This creates a constant selling pressure that has to be countered with aggressive marketing.
- anonporridge 5y agoThis all changes when miners pay for their electricity in bitcoin and electricity companies pay their employees in bitcoin, and their employees pay for their rent and groceries in bitcoin, etc. Circular economy.
- lottin 5y agoAnd pigs might fly.
- anonporridge 5y agoI'm sure you would have said something similar if I was arguing 2 years ago that publicly traded companies would put bitcoin on their balance sheets and nation states would declare it legal tender and add it to their treasuries. Year after year for the 13 years of bitcoin's existence, people have been saying ABC will never happen, and then it happens. You're worshiping a god of the gaps that gets smaller and smaller with each passing year, while bitcoin only grows stronger. You could still be right, and finally after years of defying the haters, bitcoin is on the verge of collapse and its growth and integration into civilization will halt. Historical performance is no guarantee of future results and all that. But maybe it's just getting started.
- lottin 5y agoWell, you're right about that... human stupidity never ceases to surprise me, so weird things could happen.