4 ms·

It's been a hedge against inflation for me for nine years thanks. I'm not pulling a cent out. Those people are selling a scarce asset to me, and thousands like

It's been a hedge against inflation for me for nine years thanks. I'm not pulling a cent out. Those people are selling a scarce asset to me, and thousands like me, and they can only sell to us once. Most miners are running on stranded, excess renewable energy that can't be used for anything else. A ponzi scheme implies an exit. We're never swapping back to dollars that can be printed out of thin air.

formerkrogemp 4y ago
> It's been a hedge against inflation for me for nine years thanks. For a period of record low inflation excluding 2021 and the current year? Sure. During 2021 and 2022? Only price falls for Bitcoin. > Most miners are running on stranded, excess renewable energy that can't be used for anything else. Bullshit. There is opportunity cost to this electricity use, and it keeps fossil fuel power plants open longer than they would have otherwise been. I don't think you need me to tell you how big of a crisis climate change is. https://www.nbcnews.com/tech/tech-news/bitcoin-miners-align-fossil-fuel-firms-alarming-environmentalists-n1280060 https://www.nbcnews.com/tech/tech-news/bitcoin-miners-align-... https://www.wsj.com/articles/bitcoin-miners-are-giving-new-life-to-old-fossil-fuel-power-plants-11621594803 https://www.wsj.com/articles/bitcoin-miners-are-giving-new-l... https://www.theguardian.com/technology/2022/feb/18/bitcoin-miners-revive-fossil-fuel-plant-co2-emissions-soared https://www.theguardian.com/technology/2022/feb/18/bitcoin-m... https://hbr.org/2021/05/how-much-energy-does-bitcoin-actually-consume https://hbr.org/2021/05/how-much-energy-does-bitcoin-actuall... https://news.climate.columbia.edu/2022/05/04/cryptocurrency-energy/ https://news.climate.columbia.edu/2022/05/04/cryptocurrency-... https://abcnews.go.com/Technology/wireStory/bitcoins-puzzle-ditch-fossil-fuels-green-84208227 https://abcnews.go.com/Technology/wireStory/bitcoins-puzzle-... https://www.washingtonpost.com/business/energy/bitcoin-is-red-hot-can-it-ever-be-green/2022/03/16/52510202-a4de-11ec-8628-3da4fa8f8714_story.html https://www.washingtonpost.com/business/energy/bitcoin-is-re...
- tossl568 4y ago
  We'll revisit that in a few years shall we? After continued inflation caused by endless QE. Sounds like you have a problem with fossil fuels and the subsidies that exist for them. I suggest you direct your anger there instead of trying to police what calculations people choose to do.

formerkrogemp 4y ago

> It's been a hedge against inflation for me for nine years thanks. For a period of record low inflation excluding 2021 and the current year? Sure. During 2021 and 2022? Only price falls for Bitcoin. > Most miners are running on stranded, excess renewable energy that can't be used for anything else. Bullshit. There is opportunity cost to this electricity use, and it keeps fossil fuel power plants open longer than they would have otherwise been. I don't think you need me to tell you how big of a crisis climate change is. https://www.nbcnews.com/tech/tech-news/bitcoin-miners-align-fossil-fuel-firms-alarming-environmentalists-n1280060 https://www.nbcnews.com/tech/tech-news/bitcoin-miners-align-... https://www.wsj.com/articles/bitcoin-miners-are-giving-new-life-to-old-fossil-fuel-power-plants-11621594803 https://www.wsj.com/articles/bitcoin-miners-are-giving-new-l... https://www.theguardian.com/technology/2022/feb/18/bitcoin-miners-revive-fossil-fuel-plant-co2-emissions-soared https://www.theguardian.com/technology/2022/feb/18/bitcoin-m... https://hbr.org/2021/05/how-much-energy-does-bitcoin-actually-consume https://hbr.org/2021/05/how-much-energy-does-bitcoin-actuall... https://news.climate.columbia.edu/2022/05/04/cryptocurrency-energy/ https://news.climate.columbia.edu/2022/05/04/cryptocurrency-... https://abcnews.go.com/Technology/wireStory/bitcoins-puzzle-ditch-fossil-fuels-green-84208227 https://abcnews.go.com/Technology/wireStory/bitcoins-puzzle-... https://www.washingtonpost.com/business/energy/bitcoin-is-red-hot-can-it-ever-be-green/2022/03/16/52510202-a4de-11ec-8628-3da4fa8f8714_story.html https://www.washingtonpost.com/business/energy/bitcoin-is-re...

tossl568 4y ago
We'll revisit that in a few years shall we? After continued inflation caused by endless QE. Sounds like you have a problem with fossil fuels and the subsidies that exist for them. I suggest you direct your anger there instead of trying to police what calculations people choose to do.