HODL til 2024 Crypto Bull Run

[Castle2.0]

Originally Posted by bomaroast [You must be logged in to view images. Log in or Register.]

Right. Because spinning up a gas burning generator to power a mining setup is 'renewable.'

You're right, all the big players have on-site gas burning generators. You are very well-read and obviously have a great read on the industry...[You must be logged in to view images. Log in or Register.]

Learn to read: https://assets.ctfassets.net/2d5q1td...hite_Paper.pdf

[Castle2.0]

The biggest cost of the current monetary system is the cost of inflation.

You earn X in 2021. It's worth 40% less in 10 years.

3% year-on-year, and that is very conservative estimate of inflation, it's likely more like 5%+

[Gustoo]

Bomaroast has a pretty good response there.

Except we're talking about present day and whether present day banking structure is more or less efficient than bitcoin banking structure is probably a matter of some useful discussion.

It's true we don't talk about how expensive banks are and how much they consume.

But then again we could eliminate like 1 million useless tax jobs if we just taxed 30% of all income across the board and have more tax revenue too..but we don't do that. We have the IRS and a hundreds of thousands of accountants just so the government can offer tax incentives to control what we all do.

I just heard someone say "Oh I hope my baby comes before the end of the new year so I can get the write off" that kind of incentive/control is the goal of government tax policy and its fucked.

[Jibartik]

Originally Posted by bomaroast [You must be logged in to view images. Log in or Register.]

Wrong. It's very easy to see who is right. Traditional banking can be conducted and was conducted for hundreds of years without any electricity or computer hardware. Traditional banking can perform transactions without having to decode/re-encode all past transactions. There is not waste built into the system as a matter of course.

All for the sake of being "free" from traditional forms of money and control. Nevermind that the e-coins are all completely dependent on electricity, computer hardware manufacturers, and the internet infrastructure.

All that paper, all the buildings that house the employee's to maintain those ledgers, all the manufacturing of the currency and safe places to store it, and shipping of assets around the world to maintain all this has a huge footprint.

Your phone's camera using the internet to do all of that digitally is a huge reduction in environmental impacts.

If it wasn't for the internet already being there, and phones already existing, building the infrastructure to do that would be as costly, but since all that is there already, it's free.

The ecoin economy works without employee's without headquarters etc.

The reason I say it's hard to say who is right, because my argument is, even with ecoins humans would just build the same wasteful system out of it anyway because we're retarded.

[Castle2.0]

Also, clothes dryers in the US alone use more energy than bitcoin.

Convenience of drying your clothes for Americans > preserving the wealth of all people from all nations from debasement and confiscation

• People suck at grokking big numbers and statistics - thus they overestimate the electrical cost of bitcoin
• People don't yet understand the value of bitcoin to protect against debasement and confiscation -- thus they underestimate the value of bitcoin

Also, people don't know how Bitcoin is driving alternative energy.

All good, mates. Let's talk in 2024. It'll be a YUGE I told you so moment.

[Jibartik]

hey folks just put castle on ignore and read my posts, theyre intelligent versions of the point's he's heard youtubers reeeeeee about.

he is right you idiot china was dumping huge amounts of coal into BC last year god youre the reason people dont like rick and morty and are still afraid to invest in BC.

Like horza is the reason I am voting for trump in 2024.

[bomaroast]

Let's talk in 2027. By then the climate disaster will be undeniable and the first-world will have followed China's lead in banning the ecoins.

[Jibartik]

All the ways bitcoin can be better for the environment, fiat currency could as well to be fair.

The reason VISA has such gnarly footprint is because it's existed through the invention phase of this 2nd instustrial revolution that is over.

BC was invented after the 2nd industrial revolution, so naturally it can get to "visa's" level without as much of a footprint.

But using the same theory traditional banking could get to bitconis potential decreased footprint just as easily.

Which is why it's arguable, because like bitcoin or crypto itself doesn't necessarily mean like, no carbon footprint.

There is so much more to it than like, "bitcoin is a magic cure all for all our problems!" or "it's worse for the environment than traditional banking!"

But I do think you're making a huge mistake by not putting 10% of your savings into it. Just setup a coinbase or robinhood account and drop some dollars into it every once and a while and you'll see!

[Smoofers]

Quantum computing is only a threat to old school proof of work consensus algorithms

e.g. boomer bitcoin

[Castle2.0]

Originally Posted by Smoofers [You must be logged in to view images. Log in or Register.]

Quantum computing is only a threat to old school proof of work consensus algorithms

e.g. boomer bitcoin

Tis not a threat. Read above.

Proof-of-stake is status quo but on blockchain.

(1) Rich get richer
(2) Rich decide the rules for everyone else

Sounds great.

Use google, there are plenty of problems with proof-of-stake. I didn't cover the technical problems here.