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Bitcoin is a great storage of value for now. Mastercard is also very useful for transactions. The US military burns more fossil fuels than any entity on earth,
by andirk 3y ago
Bitcoin is a great storage of value for now. Mastercard is also very useful for transactions. The US military burns more fossil fuels than any entity on earth, and that's how your USD is protected.
- ben_w 3y agoThe US military protects the US; if the US dropped the dollar for any other currency, be that bitcoins or the Euro or gold or antimatter, the military in particular would still have to burn exactly as much energy. Conversely, bitcoin and other similar cryptocurrencies, whichever collective burns more than half of all computational resources, gets to wage economic war on anyone else. By extension this also includes them getting the ability to undo transactions they don't like, which is actually a genuinely useful thing, despite being used as totemic example by pro-crypto people against fiat currencies. But there is no upper bound to this connected to any underlying asset, so a K2 Dyson swarm does exactly the same number of BTC transactions as the current network, and that number isn't enough for even just the daily fast food purchases in Berlin. Conversely, the US military cost is basically "how much do we want to spend to defend our country and way of life?" to which the answer is "lots, but not too much".