Bitcoin
Bitcoin
Out of context: Reply #2354
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- neverscared-1
https://fortune.com/2022/01/05/c…
China’s crackdown on Bitcoin mining last year, culminating in a full ban in September, unleashed a diaspora of producers seeking new homes. Many flocked to green sources in the Nordic nations, while others tapped coal and natural gas in Kazakhstan, Iran, Kosovo, and tiny Abkhazia; by last fall, more than one-quarter of all of the signature currency’s coins were being minted in Kazakstan and Iran alone.
- Bitcoin mining is being banned in countries across the globe—and threatening the future of cryptoneverscared
- why is there so much mining in anti-democratic states ?neverscared
- Bukele is going down the path of every wannabe trader.
First he bought the top.
Then he went all-in on a small dip.
Then he bragged about being up 5% on hisneverscared - dip buying. And now that he's rekt, he's trying to borrow silly amounts of money to go all-in again and try to break even.neverscared
- Democracy has nothing to do with rampant capitalism. This is the beauty of a decentralized currency. Which of course Bitcoin is.monospaced
- ;)monospaced
- funny how undemocratic states just happen to have ample natural resources that bitcoin mining requires. i'm sure that's not at all backwardskingsteven
- yes, maybe but the power structures insde crypto would reflect the centralized powerstructers of near or full dictatorship centraliszation of course ;)neverscared
- still there must be more to it... a lot of stuff is moving to texas right ? texas is pretty super duper conservative... and the mining seems to find a nice homeneverscared
- there... https://inthesetimes…neverscared
- like the doge coin owner said: "Despite claims of 'decentralization', the cryptocurrency industry is controlled by a powerful cartel of wealthy figures,"neverscared
- https://www.cnet.com…neverscared
- Iceland not banning it, and it's all being thermo powered there = eco fri end leeshapesalad
- do u have a link to substantiate that claim ? coz all i can find is the opposite... no new ressources for mining in iceland ?neverscared
- considering that "powerful cartel of wealthy figures" cannot, will not and has never stopped anyone from mining, I think that's a whole load of bullshitmonospaced
- IF a single entity controlled all mining and the amount in circulation it would be centralized. until then, it's just a false equivalency and misunderstandingmonospaced
- Once again, concentrated wealth ≠ centralized currency. It's a prerequisite in the purest form of the definition.monospaced
- lol, ok, clearly you know better and are much smarter than the guy who is deep inside the crytpo industry ...lol, i guess they are called power full becauseneverscared
- they can ... the hardware superiority power of them has clearly trickled not down to your understand of centralized power. Incredible how u know these thingsneverscared
- lets fuck up the expert is your move... i get it.neverscared
- central station is called central station ... because a lion share of trains leave from there... 0.01% controll 27% , 1% control 50% . that what u call centralneverscared
- 500 trains leave from one station... 500 others from 99 others... if u dont understand central u clearly know not a lot about topological thinking.neverscared
- your single entity argument is as dumb as it gets defining central.... actually wtf ..neverscared
- your argument that an analogy to a train station is better than the ACTUAL meaning of centralized banking is ridiculousmonospaced
- I'm simply talking about decentralized currency in the context of how that word is used for bitcoin. You can't change the defintion and contextmonospaced
- its not ridiculous at all.. it illustrates perfectly the quantities of power .. in a hands o few powerful... powerfull cluster of points become on cluster if uneverscared
- zoom out our in.. basic of topology mathematics and optics.neverscared
- evidently your narrow understanding of centralized power is in the realm of trump . by the numbers FIAT reality is 100 times more decentralized than bitcoin.neverscared
- to formulate it that u understand the problematic... a tech that is decentralised in its technologic structure is 100x times more centralized in Powerstructure.neverscared
- and a tiny tiny few havin so much power in a decentral system, makes the decentral worthless, the powerfull control the high amount of decentral hotspots akaneverscared
- bitcoin oligarchy.neverscared