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Started By
Message
re: Bitcoin is Unsustainable
Posted on 5/21/18 at 12:11 pm to TH03
Posted on 5/21/18 at 12:11 pm to TH03
quote:
yeah, $1-2k per rig for a legit one. And you'll need more than one.
Unless you get lucky.
I always wondered if those people messing with bitcoin knew how the whole system worked. I found that more interesting than the money aspect.
0
Posted on 5/21/18 at 12:20 pm to Sticky37
This is banking industry FUD that some are taking hook line and sinker. Y’all must just love the Fed.
This post was edited on 5/21/18 at 12:21 pm
Posted on 5/21/18 at 12:26 pm to Sticky37
Absolutely blows my mind that everyone didn't immediately recognize this as digital monopoly money. World markets were never going to trust a computer algorithm to produce amounts of currency. IT's baffled me since the beginning.
Blockchain, great. Cryptos, nonsense.
Blockchain, great. Cryptos, nonsense.
Posted on 5/21/18 at 12:29 pm to RedPants
quote:
World markets were never going to trust a computer algorithm to produce amounts of currency.
The world trusts algorithms to do everything.
Posted on 5/21/18 at 12:30 pm to RedPants
the biggest banks in the world are already heavily invested in this monopoly money
Posted on 5/21/18 at 12:33 pm to CollegeFBRules
quote:
The world trusts algorithms to do everything.
Everything except one that makes them accountable to a set amount of currency, eliminating the government's print more money to solve problems strategy. That kind of purse power was never getting turned over to a computer. Even if it was, that computer would never have stayed away from corruption.
Posted on 5/21/18 at 12:53 pm to Sticky37
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This post was edited on 5/21/20 at 2:37 pm
Posted on 5/21/18 at 1:05 pm to WikiTiger
He speaks! Welcome back 
Posted on 5/21/18 at 1:07 pm to Jack Bauers HnK
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This post was edited on 5/21/20 at 2:36 pm
Posted on 5/21/18 at 1:07 pm to WikiTiger
My man.
Posted on 5/21/18 at 1:08 pm to WikiTiger
tGOAT! 
Posted on 5/21/18 at 1:08 pm to TH03
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This post was edited on 5/21/20 at 2:36 pm
Posted on 5/21/18 at 1:08 pm to 50_Tiger
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This post was edited on 5/21/20 at 2:36 pm
Posted on 5/21/18 at 1:15 pm to WikiTiger
They’ve suddenly disapeared from the thread.
They’ll be back when you’re gone to continue pontificating about that which they know nothing about.
They’ll be back when you’re gone to continue pontificating about that which they know nothing about.
Posted on 5/21/18 at 1:16 pm to WikiTiger
Oh same ole. Hope you're doing well.
Posted on 5/21/18 at 1:17 pm to Sticky37
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This post was edited on 5/21/20 at 2:36 pm
Posted on 5/21/18 at 1:19 pm to WikiTiger
quote:
1. This unsustainable stuff is just bullshite FUD. First off, compared to what? Compared to the traditional financial framework....what with it's millions of brick and mortar buildings all over the world using electricity and water, taking up space, etc? Or with it's millions of employees commuting to work each day? Or with its manual transfer of funds using secured armored vehicles? Or with....well you get the point. The total environmental footprint of both Bitcoin/crypto and traditional banking needs to be compared fairly before any kind of judgment can be made.
I actually had this discussion with a friend of mine on social media the other day. Needs to be compared to the footprint of existing system.
quote:
3. It ignores the concept of economic equilibrium. If Bitcoin did not create at least as much value as it consumes then miners would stop mining. And if enough miners stopped mining, then the difficulty of mining would decrease, reducing the environmental impact of mining. The market is the greatest arbitrator of this, and bitcoin mining will never be a value losing activity.
Posted on 5/21/18 at 1:19 pm to WikiTiger
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This post was edited on 5/21/20 at 2:36 pm
Posted on 5/21/18 at 1:19 pm to WikiTiger
Uhh, and lastly... the mechanics behind Proof of Work for btc could be altered at nearly any point. Making the fear of energy consumption a non-issue.
This post was edited on 5/21/18 at 1:21 pm
Posted on 5/21/18 at 1:21 pm to Powerman
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This post was edited on 5/21/20 at 2:36 pm
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