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WEF Seething About Bitcoin Savings
399 sats \ 9 comments \ @Atreus 26 Oct 2022 bitcoin
https://www.weforum.org/videos/davos-annual-meeting-2022-cryptos-carbon-footprint-english
This ^ is worth a watch if you want to see what 'the other side' is thinking. Some familiar faces among the attendees — Coin Desk and FTX man included. Anyway, this part just after the 33 minute mark — 
"I do wonder why there isn't more skepticism about proof of work. Bitcoin has around 1.2 million daily active wallets. What are those wallets doing? They're mostly a store of value. My question is, are we thinking about the opportunity cost? We could probably solve cancer four times over with that amount of computing."
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169 sats \ 0 replies \ @zodthebarbarian 26 Oct 2022 freebie
Dinosaurs fighting over whether the meteor could be used to heat their dinosaur eggs.
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15 sats \ 0 replies \ @mf 26 Oct 2022
What a joke. These PoW questions are always coming out of ignorant people (surprise surprise) and always with the assumption that protecting the network (with energy) is not really necessary, because the state will protect the wealth of everyone somehow.
"Need to regulate responsably, needs kyc/aml, monitor all shitcoins through exchanges, unhosted wallets..." - All the buzzwords were thrown in the conversation.
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20 sats \ 1 reply \ @Majjin 26 Oct 2022
That statement has so many false, implicit assumptions and beliefs its crazy.
"We would definitely use that computing power for curing cancer and nothing else."
"That computing power can be redirected for other uses."
"That computing power can be taken as if it was controlled by a centralized entity."
"No one needs store of value."
"People should think proof of work is bad."
"The number of wallets and proof of work should be correlated somehow."
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5 sats \ 0 replies \ @Atreus OP 26 Oct 2022
lol. It's like other tech illiterate Boomers I know, except evil.
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30 sats \ 1 reply \ @faithandcredit 26 Oct 2022
Davos are a bunch of intellectually bankrupt c*cks who fill the vacuum democracy creates. What do i mean? Elected officials have no idea how to legislate, they just decide they want to be a politician and then they get elected. But they dont have a clue about governing and there is no-one to teach them. And then this ignorant Davos crowd just makes more noise than everyone else and gets to set the agenda for western democracies. It is disgusting
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7 sats \ 0 replies \ @Atreus OP 26 Oct 2022
Based, intellectual, and well said.
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100 sats \ 0 replies \ @takaponka 26 Oct 2022
They blame our use of energy to maintain control. Why not go after porn and streaming then ? Hypocrytes
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1 sat \ 0 replies \ @Brunswick 26 Oct 2022
If there were a way to cure cancer with computing power, we would know about it. Bitcoin mining cures the cancer of fiat wealth destruction.
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0 sats \ 0 replies \ @kwintendb 26 Oct 2022
Actually I find the people on the panel push back on him quite well.
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