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First off, I'd like to commend you for using landfill volume as a proxy for productivity. It's refreshingly honest and I wish economists would take note. That
by klyrs 4y ago
First off, I'd like to commend you for using landfill volume as a proxy for productivity. It's refreshingly honest and I wish economists would take note.
That said, there are last-gen GPUs and ASICs going to landfills. Some people are actually getting paid to make the inputs to the otherwise-ephemeral pseudocurrency. Not to mention all of the CO2 released into the atmosphere... you can't see it but that $1.8B put it there.
- dougmwne 4y agoAnd the paper clip factories churn on.
- samwillis 4y agoDo not click this link, you will loose at least 6hrs of your life: https://www.decisionproblem.com/paperclips/index2.html https://www.decisionproblem.com/paperclips/index2.html
- honkler 4y agosome use freight activity as a measure of economy, atleast "real economy".
- RC_ITR 4y agoAnd therefore completely ignore the 50% of the global economy that is services.
- honkler 4y agoaka fake economy.
- RC_ITR 4y agoYeah, the illusion of electricity and the Internet...
- Tostino 4y agoNot entirely, most services require some products as inputs, so they are still measured in some way.
- RC_ITR 4y agoWhat about electricity generation requires a shipping container?
- honkler 4y agofreight in this context generally includes commercial rail freight.
- RC_ITR 4y agoDo we ship natural gas via rail now? Are we replacing our turbines every year? Plenty of economic activity that is not fake involves no freight.
- honkler 4y agoelectricity consumption to measure economic activity is another technique, but judging by your reaction, "fake economy" hit a nerve.
- RC_ITR 4y agoYeah, because people who believe “services are a fake part of the economy” vote and their representatives pass bad economic policy as a result.
- dsfyu404ed 4y agoPeople doing "economist things" but with money at stake (i.e. financial analysts) already do that stuff.
- samwillis 4y agoMy pet theory is that the massive excess in GPUs from the crypto explosion are being fed back into the AI explosion we are seeing now. In reality I wander how many former mining GPU farms are now doing AI training...
- deleted 4y ago[deleted]
- WeylandYutani 4y agoAll of the crypto companies have had layoffs since the crash. The big exchanges are downsizing- but obviously there's still some money in it.