11 sats \ 1 reply \ @faithandcredit 28 Jul 2022 \ parent \ on: Daily discussion thread
Thats when you become the socratic assasin and ask "What do you mean?" and then hes like "Bitcoin is using too much power" and then you probably ask "How does that burn the planet?" and you can keep going until he has no more answers because quite frankly the notion that Bitcoin is burning the planet is silly.
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If anything its fiat currency that is burning the planet because they crate trillions of it in a short time span and it creates bubbles everywhere, also in crypto. The way Bitcoin issuance currently works this means miners suddenly get millions of dollars in profit which attracts millions of miners even tho BTC is used by relatively few ppl. So blame the fed for creating these bubbles that leads to massive energy use that is eventually wasted.
The good news is that bitcoin will slowly go over to a more environmentally friendly security model that is based on on-chain usage and not how much money the fed is pumping into the economy.
Well put. Socratic assasin, that's great. Just that sometimes there is little room for a back and forth.
I did mention how the status quo is much worse by his "burning the earth" standards because obviously a "token worth nothing" for them deserves nothing else than zero emissions.
That said if mining had zero emissions they would start with the ASICs pollute the waters narrative, and so on
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