You want to know what a #Bitcoin really looks like? It looks like 9 million tons of coal. It looks like all the long hours of underpaid work mining that coal. It looks like the miner who just died in a mining accident. It looks like children breathing the polluted air from the power plant burning that coal. It looks like the person dying of cancer from breathing that polluted air. It looks like mountains of useless and obsolete Antminers. It looks like ecological collapse. That’s your Bitcoin.
@dsfgs No it’s not. The major part of Bitcoin mining is done in China or other third-world countries using cheap coal-fired power. The stats are easily searchable.
@dsfgs Also, the argument that more energy is used to feed the fiat system is specious. Without the propping of world financial systems by national military-industrial complexes Bitcoin would have no market share and thus no value. In fact, the simple act of Bitcoin mining isn’t realistic outside the current techno-industrial paradigm. If the global financial system fails (which it will without state intervention) Bitcoin ceases to exist in any meaningful form.
The US does a good job at creating wars and assasinating leaders whenever they think of not using #USD, and clearing through NY.
And gold is far worse that bitcoin in term of slavery/mining/transportation/energy/centralisation and more.
Oh no, we can't do that because that is what #Trump did (under more #politicallyCorrect #nationalSecurity and #intellectualProperty but nonetheless). We're not Trump fans, we think he was a #fracking mess but we digress.
@dsfgs I never said that the US military is propping up Bitcoin, I said that outside the framework of the current military-industrial and fiat currency based global financial system it wouldn’t function and has no value. BTC is a “store of value” only because under current market conditions it can be converted to fiat currency. There is no logical argument that BTC has any inherent value, just as fiat currency has no inherent value.
@dsfgs Here’s a good article on actual Bitcoin energy consumption and generation from an independent source. https://digiconomist.net/bitcoin-energy-consumption
Just one remark, "bitcoin miners are never turned off until they break", had us ROFLing.
The #CambridgeUniversity study, last year showed the network uses 17% of the energy used the boil kettles if everyone globally boiled kettles like a Briton.
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