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22 sats \ 0 replies \ @yoshi 31 Dec 2024 \ on: The Energy Cost of Cryptocurrency bitcoin_Mining
Energy scarcity? That’s a central planning myth. Energy can be and should be abundant.
Bitcoin incentivises creating and harnessing more energy and that will only bring about human flourishing.
There are 3 major search query segments that users traditionally make. Commercial, navigational and educational (this has now evolved into actionable as it executes the task for the end user as well). Educational has always been a difficult one for Google in particular to monetise. 99%~ of the revenue comes from commercial terms.
OpenAI and the GenAI category is monetising the third segment. I think the valuation makes sense and likely grows considerably as the market is so large. The only way it becomes profitable however is if energy prices come down as the compute cost is too high. So it’s a long term investment on building and holding their network on the educational segment and energy prices going down to allow it to be profitable.
This will worsen and worsen for all major stock markets over time. Aging populations are draining more and more from their pensions. A lot of folk seem to complain about OG’s selling their bitcoin but it pales in comparison to the pension brigade.
All just one giant ponzi. Just make sure you are on the best one.
Could SN implement Substack style post type?
Where the user can read the first 2 paragraphs or so (up to the author discretion) and then pay sats to unlock the rest..
The quote below confirmed that he is English to me. It’s just something only English people really say.
"I know this sounds really retarded, but" - Satoshi.
I believe so, retail isn’t coming back in large numbers and that’s why this cycle is going to be so painful for normies. They are going to see a bitcoin price they never thought fathomable because they didn’t take the time to understand it.
Pretty much 90% of the bitcoiners I have met who were 2016 - pre-2020 seem to have been burnt on shit coins at some point or another. So yea definitely they can, as many are maxis now.
I agree it’s a matter of when not if but often these sort of breakthroughs just happen. LLM for example just seemed to come out of nowhere.
The time horizon is unknown but it could happen sooner than we think.
I was about 7 when I started playing C&C games back in the day. I think they and any RTS (AoE 2 etc.) games are pretty educational.
I think it more as economic energy. I deploy my energy for a set value. I then transfer that value into an asset that will store it through time.
I just pray Liverpool will provide us with the greatest bottle job the Premier League has ever seen and lose out to Brighton on the final day.
RHR is the only bitcoin podcast I consistently still listen to after all these years. Marty and Odell are great representatives of the plebs, they always find the positives to focus on. Which helped during the bear market in particular! Legends.
Exactly the same scenario for me. Scared the absolute bejesus out of me and I haven’t really watched horror movies since.
So you don't use any fiat currencies at all? I think that's pretty impressive and noble if so but I personally categorise a shitcoin as crypto tokens such as Doge or Solana.
I think there is a difference between a potential future Secretary of the Treasury using USDT and crypto tokens and was curious if when you call him a scammer and a commie if its because of the crypto? As that would give me a very different view on him.