Bill Gates Says that Bitcoin is bad For the Planet

Still no valid usecase found for Bitcoin, aside from being a number-is-green-and-goes-up currency. Lightning is unused. TX fees are stupidly high. We're dedicating ASICs powered by entire coal plants to mining bitcoin.

And before you, commenter to this post, say anything, no, your Eth/Doge/Xrp/Monero/Tether/scam-ipo-of-the-day is not more valuable. NFTs are worthless. No, being distributed does not make your favorite token useful. No, mining contributing to the chain's security is not useful, because there is nothing useful on said blockchain. No, you're not more free with your coin when nobody wants it. No, you're not free of central banks when you all decide to dump it all in Coinbase and Kraken anyways.

Just ban these worthless wastes of energy and time.

Re: Bill Gates Says that Bitcoin is bad For the Planet

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Post by [deleted] » Mon, Mar 08, 2021, 4:16 PM UTC

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Re: Bill Gates Says that Bitcoin is bad For the Planet

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Post by [deleted] » Mon, Mar 08, 2021, 4:17 PM UTC

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Re: Bill Gates Says that Bitcoin is bad For the Planet

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Post by adflux » Mon, Mar 08, 2021, 4:17 PM UTC

I feel like it's a matter of time until the central banks release a coin (gold backed?) and kick Bitcoin and all other crypto's out. Keeps them in power, uses the advantages of crypto.

Re: Bill Gates Says that Bitcoin is bad For the Planet

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Post by jetpackjoe » Mon, Mar 08, 2021, 4:18 PM UTC

There are so many better crypto-currencies. Better for the environment because they use proof-of-stake, and not proof-of-work. Better for users because transactions are confirmed in seconds, not hours, and without the ridiculous fees that Bitcoin has.

I think this shows how truly powerful the network effect, and being first to market is. Because without those things, Bitcoin would be nothing.

Re: Bill Gates Says that Bitcoin is bad For the Planet

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Post by endisneigh » Mon, Mar 08, 2021, 4:18 PM UTC

according to my bitcoin friends, Mr. Gates is just jealous of the bitcoin billionaires.

in all seriousness - i'm actually very bullish on crypto - but I don't see any reason bitcoin will be the winner for all of entirety. to me I think all major countries will eventually invent their own digital currencies and a new coin will arrive which is simply a fixed price tied to the prices of all digital currencies.