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I’m in favour of not burning more power that the country of Argentina for a coin who’s primary historical purposes have been speculation and the facilitating of

by TimPC 4y ago

I’m in favour of not burning more power that the country of Argentina for a coin who’s primary historical purposes have been speculation and the facilitating of illegal transactions. I also think it’s a hard problem to solve short of banning given the large numbers of rampant speculators.

yossarian1408 4y ago
You are referring to the US dollar correct?
ekianjo 4y ago
Creating and moving cash also requires power and can be used for illegal transactions.
- TimPC 4y ago
  It’s almost like we created a system of rules for moving cash and made certain behaviours with it illegal due to some of the problems with this. Imagine that.
glerk 4y ago
And who are you to decide what power should or should not be used for? Someone appointed you king of the world? It’s natural to want to impose your will by force and make everything you don’t like illegal. But consider that tomorrow, the roles might be reversed and the boot might be on your neck.
- TimPC 4y ago
  No where did I say I wanted to be king of the world. I think our democratically elected institutions can decide such things. My vote would be to do so. I agree that democracy potentially means that things I like may be prohibited. I don’t see that as a good reason to throw out democracy.
- seoaeu 4y ago
  Society makes laws to prevent individuals from enrich themselves by harming the public. Committing climate arson so that you can get rich speculating on cryptocurrency is precisely the kind of externality that environmental regulations are designed to prevent
  - mindslight 4y ago
    Much more energy gets wasted by a high monetary inflation currency like USD, which pushes the economy to create additional busywork churn in the name of "growth".
  - glerk 4y ago
    > Committing climate arson so that you can get rich speculating on cryptocurrency That's such a hyperbolic and frankly disingenuous way of putting it. Any human activity consumes energy to an extent. You are calling it "climate arson" because you personally don't like it, so it is a waste to you. What else should "society" ban because someone thinks it is not useful and harming the environment? Gaming PCs? Meat? Cars?
    - shrimp_emoji 4y ago
      NB: Gaming PCs consume a tiny fraction of the energy of crypto, meat (especially beef), or cars. (I feel compelled to defend my lifestyle from the eco-chopping block.)
    - seoaeu 4y ago
      No, what's disingenuous is neglecting to consider how much energy is used by different activities. The average American's gaming, meat consuption, driving, and all other activities combined emit as much CO2 as only about a dozen Bitcoin transactions [0][1]. So yes, I'm going to go on considering cryptocurrency usage to be climate arson [0]: https://digiconomist.net/bitcoin-energy-consumption/ https://digiconomist.net/bitcoin-energy-consumption/ [1]: https://www.macrotrends.net/countries/USA/united-states/carbon-co2-emissions https://www.macrotrends.net/countries/USA/united-states/carb...

by TimPC 4y ago

yossarian1408 4y ago

You are referring to the US dollar correct?

ekianjo 4y ago

Creating and moving cash also requires power and can be used for illegal transactions.

TimPC 4y ago
It’s almost like we created a system of rules for moving cash and made certain behaviours with it illegal due to some of the problems with this. Imagine that.

glerk 4y ago

And who are you to decide what power should or should not be used for? Someone appointed you king of the world? It’s natural to want to impose your will by force and make everything you don’t like illegal. But consider that tomorrow, the roles might be reversed and the boot might be on your neck.

TimPC 4y ago
No where did I say I wanted to be king of the world. I think our democratically elected institutions can decide such things. My vote would be to do so. I agree that democracy potentially means that things I like may be prohibited. I don’t see that as a good reason to throw out democracy.
seoaeu 4y ago
Society makes laws to prevent individuals from enrich themselves by harming the public. Committing climate arson so that you can get rich speculating on cryptocurrency is precisely the kind of externality that environmental regulations are designed to prevent
- mindslight 4y ago
  Much more energy gets wasted by a high monetary inflation currency like USD, which pushes the economy to create additional busywork churn in the name of "growth".
- glerk 4y ago
  > Committing climate arson so that you can get rich speculating on cryptocurrency That's such a hyperbolic and frankly disingenuous way of putting it. Any human activity consumes energy to an extent. You are calling it "climate arson" because you personally don't like it, so it is a waste to you. What else should "society" ban because someone thinks it is not useful and harming the environment? Gaming PCs? Meat? Cars?
  - shrimp_emoji 4y ago
    NB: Gaming PCs consume a tiny fraction of the energy of crypto, meat (especially beef), or cars. (I feel compelled to defend my lifestyle from the eco-chopping block.)
  - seoaeu 4y ago
    No, what's disingenuous is neglecting to consider how much energy is used by different activities. The average American's gaming, meat consuption, driving, and all other activities combined emit as much CO2 as only about a dozen Bitcoin transactions [0][1]. So yes, I'm going to go on considering cryptocurrency usage to be climate arson [0]: https://digiconomist.net/bitcoin-energy-consumption/ https://digiconomist.net/bitcoin-energy-consumption/ [1]: https://www.macrotrends.net/countries/USA/united-states/carbon-co2-emissions https://www.macrotrends.net/countries/USA/united-states/carb...