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Bitcoin mining converts energy into currency so that instead of having to transmit the energy from where it is generated to where it is needed, you transmit the

Bitcoin mining converts energy into currency so that instead of having to transmit the energy from where it is generated to where it is needed, you transmit the fungible currency that can be used to buy things in in other regional markets. The anti-cryptocurrency movement isn't ignorant, it's mendacious and cynical as I'm begining to think they really appear to imagine on a psychological level that everyone else is their subject. This regime uses ideology as a kind of mass neutralizing force where almost everyone is speaking in elliptical gibberish, and even principled people get tarpitted by challenging it, and then a small number of activated people encounter no resistance to locking down the means of production (energy, currency, etc), making them impossible to dig out. A bitcoin ban isn't merely stupid, it's a meta-evil level attempt to sabotage the development of our entire species and secure the reins for these activated few. If that sounds like a conspiracy, consider how many people work directly for the Whitehouse, and it's less than a couple of thousand, with a core policy group of fewer than a couple of hundred, working playbooks provided by their party, which is a machine for working ideological playbooks. Some of the same would be the case with the other team, but this particular playbook I've seen before. I would consider a ban to be an attack on the private economy.

e63f67dd-065b 4y ago
This is quite a silly view. Bitcoin mining doesn’t convert energy into currency, it’s using computation as a consensus mechanism for a distributed ledger. This consensus can be achieved many other ways, as seen by the myriad of other coins popping up with their own mechanisms. Proof of work is the most wasteful way of doing so. It creates an infinite race of seeing who has more compute, as it actively rewards those who consume more energy. You’re seeing things that aren’t there in both sides of the argument. I have no idea what the last few sentences are supposed to mean, but bitcoin dying is not the end of the human species, that’s just silly.
- motohagiography 4y ago
  I'm not sure this response is from a mind equipped to apprehend the adequate or necessary level of abstraction to address the issue, but it bears addressing because it is representative of the quality of argument made in favour of bitcoin bans and regulations. The crux of bitcoin is sound money tied to compute costs - which directly are energy costs. It rewards people who find and apply sources of energy they can convert into compute wherever they may be. I've found some people say they don't understand things when doing so would create a conflict with their ability to sustain dissonance. My comment wasn't for them, it was for people with the need and ability to understand the macro dynamics of the policies that impact us all, and that there is a view that is upsteam of all this anti-crypto hysteria.

e63f67dd-065b 4y ago

This is quite a silly view. Bitcoin mining doesn’t convert energy into currency, it’s using computation as a consensus mechanism for a distributed ledger. This consensus can be achieved many other ways, as seen by the myriad of other coins popping up with their own mechanisms. Proof of work is the most wasteful way of doing so. It creates an infinite race of seeing who has more compute, as it actively rewards those who consume more energy. You’re seeing things that aren’t there in both sides of the argument. I have no idea what the last few sentences are supposed to mean, but bitcoin dying is not the end of the human species, that’s just silly.

motohagiography 4y ago
I'm not sure this response is from a mind equipped to apprehend the adequate or necessary level of abstraction to address the issue, but it bears addressing because it is representative of the quality of argument made in favour of bitcoin bans and regulations. The crux of bitcoin is sound money tied to compute costs - which directly are energy costs. It rewards people who find and apply sources of energy they can convert into compute wherever they may be. I've found some people say they don't understand things when doing so would create a conflict with their ability to sustain dissonance. My comment wasn't for them, it was for people with the need and ability to understand the macro dynamics of the policies that impact us all, and that there is a view that is upsteam of all this anti-crypto hysteria.