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Short term, Bitcoin may plummet, but it changes long term prospects very little. 1929 didn’t end the stock market. It wiped out a lot of value, and changed not
by halfcat 4y ago
Short term, Bitcoin may plummet, but it changes long term prospects very little.
1929 didn’t end the stock market. It wiped out a lot of value, and changed nothing long term except timelines.
It’s possible we see 3-digit BTCUSD in the future, and later 7-digit.
- ddalex 4y agoBuy the dip? I hope that mining will become prohibitively expensive due to rising energy prices when the BTC will fall.
- halfcat 4y agoIncreasing the energy requirement of mining doesn’t discourage mining. It encourages more widespread use of untapped renewable energy sources. A river in an impoverished country in the middle of nowhere, which is too far from a population center to provide electricity, can mine bitcoin and store that energy across space and time.
- ddalex 4y ago> can mine bitcoin and store that energy across space and time I feel that if somebody manages to break the second law of thermodynamics they will get endless Nobel prizes
- halfcat 4y agoSure, “if”, but no one said anything about breaking laws of physics. There’s no claim of perfectly efficient energy transfer. It’s just regular inefficient energy transfer, like US dollars or an electrical power grid, but available to more people and places (specifically excluding the rich, and enabling more options for those who need it most, in economically disadvantaged and emerging countries).