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Nothing about bitcoin is tending towards frictionless commerce. That is an argument people make to excuse the huge waste of power (by extension generating a la
by eterm 13y ago
Nothing about bitcoin is tending towards frictionless commerce.
That is an argument people make to excuse the huge waste of power (by extension generating a large amont of pollution) that goes into bitcoin.
The reality is that all the forces that slow down electronic dollars also slow down other electronic currencies.
- pjc50 13y agoWhat forces are those?
- drcross 13y agoThe energy required to obtain gold from the earth, when you compare it to bitcoin, makes your comment farcical
- eterm 13y agoCurrencies aren't backed by gold. They're backed by governments. The united states dollar is just as much a "virtual currency" as bitcoin.
- toomuchtodo 13y agoAll currencies are a shared delusion. If everyone believes something has value, it does.