Bitcoin
Out of context: Reply #2476
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- shapesalad-2
Something to think about in terms of the "Bitcoin is using too much energy and it's badly created polluting energy" —
Renewable energy, such as thermal or hydro energy production, are usually not right next to the point of energy consumption - eg, Iceland has a tonne of eco energy opportunities but how would you get that energy to say the folks in London - where there a heck more people than Iceland wanting to charge their iPhones and drive their EV's?
Meanwhile at the same time you have a monetary system that is entirely free floating. One £ is back entirely by... a government promise. We are print a shit tonne of £'s $'s ¥'s... as we print more, inflation grows and government debt balloons - interest rates are already super low. If you raise interest rates to counter inflation, you thusly make your gov debt too expensive to service. So your only choice is to either wipe off some government debt - but that then makes your currency worthless - or you keep the plates spinning long enough and delay the enviable collapse (check out the fall of civilisation podcast to see how that goes, and then check in where we are in our current civilisation timeline - hint, we are in the sunset years).
So you've got those two things - energy system and monetary system.
Solution? Peg currency a deflationary store of energy sourced from renewable eco sources that are not near where we all are.
Pegging currencies to Bbitcoin (or something very similar) in inevitable.
Why not gold standard? Well, we already saw how that worked and then failed.
- I really should proof read more...shapesalad
- so you got no idea about the concept of "value"?
you also have no clue about how the energy markets operate, but that's fine, this is QBN...grafician - BTC looks more and more like it'll die entirely. Even the hype sounds lazy and exhausted now, which is all it had going for it in the first place.formed