3 ms·
That's an interesting way to think about it. No resources have been lost as it is a virtual thing and if we assume it to be worthless we haven't lost anything.
by tintedfireglass 5y ago
That's an interesting way to think about it. No resources have been lost as it is a virtual thing and if we assume it to be worthless we haven't lost anything. Mind blown
- nikanj 5y agoAll of the resources were wasted buying power for mining rigs. Can’t get that electricity back, and the power company doesn’t do refunds
- erulabs 5y agoExcept people spent money in the market so - the mining rig companies now have the money and computers were built. The “waste” leaks into productivity at every joint.
- nikanj 5y agoThe power company has the money, coal was bought+burned. Ultimately this is a form of broken window fallacy - buying resource to literally burn them into thin air is not stimulating the economy