bitcoin
Posted by: Couch_Surfer
Believe what you want FO, but there are no guarantees in life and certainly not Bitcoin. Just because a lot of economists were wrong (so far), doesn't mean it will keep climbing or that it won't crash. I think the Bitcoin of today is probably most comparable to gold as a store of value, and gold peaked in value around 1980 followed by a 20 year decline to about 20% of it's peak value and then has rallied for the last 20 more or less. All crypto value is linked to one thing. Confidence. All I am saying is don't get too comfortable because if people can lose confidence in gold, which doesn't have 100 competitors, then it can happen to Bitcoin.
And it is an environmental pig. There is no sugar coating that fact. There are way greener cryptos.
Last edited by: chupacabra on May 4, 2021, 11:41 a.m., edited 1 time in total.
Posted by: chupacabra
Believe what you want FO, but there are no guarantees in life and certainly not Bitcoin. Just because a lot of economists were wrong (so far), doesn't mean it will keep climbing or that it won't crash. I think the Bitcoin of today is probably most comparable to gold as a store of value, and gold peaked in value around 1980 followed by a 20 year decline to about 20% of it's peak value and then has rallied for the last 20 more or less. All crypto value is linked to one thing. Confidence. All I am saying is don't get too comfortable because if people can lose confidence in gold, which doesn't have 100 competitors, then it can happen to Bitcoin.
And it is an environmental pig. There is no sugar coating that fact. There are way greener cryptos.
Yeah I don't actually own any bitcoin. But as far as the environment goes I'm a construction worker which is one of the most environmentally abusive jobs out there. We all do what we can to survive.
Existing is bad for the environment.
Posted by: KenN
Actually, gold has some pretty useful applications, especially in electrical and electronics.
So, they mine gold to mine bitcoin. Fabulous.
Where’s Greta when we need her most?
Posted by: heckler
Posted by: KenN
Actually, gold has some pretty useful applications, especially in electrical and electronics.
So, they mine gold to mine bitcoin. Fabulous.
Where’s Greta when we need her most?
And I guess your VTI is made up of hemp farms and kombucha breweries. No oil or gas or frivolous non-essential consumer goods at all right?
In fact I heard the act of simply buying shares sucks co2 right out of the atmosphere...
Last edited by: Fast-Orange on May 5, 2021, 5:40 a.m., edited 1 time in total.
Lol. Amazon tops the list.
We could have an abundance of cheap, renewable energy, and this whole discussion would become moot.
20 minutes well spent:
2020-2030 rethink, eh? Sounds grand!
I was on the Sunstang Solar car (kind of, not really) and the Saturn Hybrid university design projects.
In 1992.
Posted by: KenN
We could have an abundance of cheap, renewable energy, and this whole discussion would become moot.
20 minutes well spent:
This is why I don't buy into the whole digital currency is bad for the environment angle. It uses a lot of electricity yes but compared to what? Banks?
And it all depends on the source of the electricity anyways. If I build a home mining rig I'm powering it off hydro which doesn't exactly warm the earth.
Posted by: heckler
2020-2030 rethink, eh? Sounds grand!
I was on the Sunstang Solar car (kind of, not really) and the Saturn Hybrid university design projects.
In 1992.
That's pretty damn cool, imo. The ReThink video brings up the point that solar/wind/battery storage combination has now reached the point where they are the cheapest form of energy available, so there are no barriers to a bigger rollout than the resistance by entrenched interests.
I was on the mini-Indy project for a year, spent a lot of time machining suspension parts in the student shops!
By 1992, I already had my P.Eng., young whippersnapper.
Posted by: Fast-Orange
Posted by: KenN
We could have an abundance of cheap, renewable energy, and this whole discussion would become moot.
20 minutes well spent:
This is why I don't buy into the whole digital currency is bad for the environment angle. It uses a lot of electricity yes but compared to what? Banks?
And it all depends on the source of the electricity anyways. If I build a home mining rig I'm powering it off hydro which doesn't exactly warm the earth.
Digital currency isn't bad for the environment, Bitcoin is. Bitcoin is really inefficient, but why would the first bit of tech be the right one to use moving forward? The model T wasn't fuel efficient either. I think crypto has a big role in the future I just don't think the ultimate winner has been chosen or maybe even conceived yet.
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