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Have you read any of it and actually understood it? I read now 8 articles and all of them are really bad :-/ I really don't have the motivation to go through
by Deritiod 4y ago
Have you read any of it and actually understood it?
I read now 8 articles and all of them are really bad :-/
I really don't have the motivation to go through all of that Garbage...
One dude compares the Bitcoin energy consumption with aluminum while ignoring that aluminum is actually helpful to smelt while Bitcoin is not.
There is so much ignorance in all of them.
'But how much energy should a monetary system consume?
How you answer that likely depends on how you feel about Bitcoin'
Another one plays around with marginal costs and writes pearls like this: "We will never know for sure but, if we look at the sale prices at the time of mining, and assume that they were mined with minimal initial profit, it comes to less than $20 billion. That would mean we put into circulation coins worth $200 billion for a tenth of their price."
Or this one were he just doesn't care to discuss the obvious issue of dividing bitcoins forever: 'But for now, just work on the assumption that the supply of bitcoin is capped at 21 million. In contrast, no one knows the supply of dollars.'
He just accepts that bitcoins are capped. Totally ignoring also how the transition to Bitcoin would make everyone richer who invests in it first. He just doesn't talk about it. And he goes on and on how Bitcoin is fixed while it's not.
Another article doesn't even mention Bitcoin just inflation and deflation in some weird writing style
And this one even points out issues:
"The mining process is arguably wasteful, and justifiably has environmentally conscious people concerned. " Or "For this reason I think that even Bitcoin’s coin allocation schedule is flawed"
Again my question to you: did you read and understood those links you shared?
- npc12345 4y ago0. A dollar your ancestors earned in 1919 buys about a 1/100 right now of what it used to. 1. A dollar you earned in 2019 buys about a quarter right now of what it used to. 2. A bitcoin you bought in 2019 buys about 5 times right now of what it used to. 3. A bitcoin bought in 2135 will buy around the same in 2135, that it will buy in 2235. ...and 2335 ...and 2435. You don't seem to care about [0] and [1]? I DEEPLY care about that. [2] is noise, just like a dollar in 2019 buys more than a dollar in 2002, who cares, it's not whole picture, and you'd be wrong calling the USD a ponzi by looking at that particular timeframe [3] is the whole point of Bitcoin. If you don't care about [3], then more power to you, keep working for the politicians, as for me, I want to work for my family and children, and my grandchildren. If you don't /get/ [3], then I don't know what to say. Everything else, every single other talking point is noise, [3] is where it's at. Even [3] is ultimately noise, and all of this discussion about Bitcoin is noise because... ...you cannot ban Bitcoin, so why go against it? Acccept it. Embrace it. Adapt. Overcome. Start doing at least some of those steps because bro, you cannot ban it, as simple as that. Bitcoin is here to stay.
- Deritiod 4y agoYou would be right if it would be the same thing. It's not. I talked about the specific issue that right now dollar has to be transferred into Bitcoin. And Bitcoin would look very similar to what dollar currently looks like. It would also has issues with inflation etc.