Ah, so the guy who has 133 billion dollars, doesn't want the current economic system to change? Shocking
Why would BTC adoption crash the value of Microsoft?
Bill Gates Says that Bitcoin is bad For the Planet
291–300 of 862 posts
Re: Bill Gates Says that Bitcoin is bad For the Planet
#292Only conclusion to be made about bitcoin: Must be a Banksy.
And to really rub it in at some point the master key to all transactions will be released.
Re: Bill Gates Says that Bitcoin is bad For the Planet
#293Bitcoin is a beautiful concept that has been bastardized by economies of scale. The mining concentration is decreasing its security over time. The centralized block structure and exorbitant fees will afflict it more and more as it grows. Even arguments about renewable energy being used to mine BTC are moot, because they don't consider the opportunity cost of what could be done with all that energy instead. I truly be…
>Even arguments about renewable energy being used to mine BTC are moot, because they don't consider the opportunity cost of what could be done with all that energy instead.
If I launch a BTC miner into space and use a star to power it, will you worry about what else could have been done with that energy?
The more remote the energy source, the higher the cost to deliver it to a centralized grid, meaning it will probably be wasted anyway if it can't easily be converted into an easier to transmit form, BTC. Rather beam internet through space than attempt to beam energy.
Re: Bill Gates Says that Bitcoin is bad For the Planet
#294Earlier quoted context omitted.
With bitcoin, you are paying for security. I know if I send you a bitcoin transaction there is a high probability it won't be reverted in our lifetime, possibly ever. I'm not a maxi but these new projects don't have that guarantee yet; likely they never will.
The only reason proof of work is working for Bitcoin is because of the amount of hashing power put into it. Nearly every other bitcoin fork can suffer a 50% attack because the network is sufficiently small that one can rent enough hashing power to attack it (see Bitcoin Gold). Alternate coins absolutely need some other mechanism to secure their chain that doesn't require a critical mass.
This is precisely why those other chains are only imitators with no true value. The longest chain is bitcoin, and all the forks thereof are imitations that hold no value or network effect. This will always be the case when someone tries to fork Bitcoin rather than actually do some new cryptographic work.
Re: Bill Gates Says that Bitcoin is bad For the Planet
#295Bitcoin will see considerably less use once we end our insane 'war on drugs'.
While bitcoin is definitely used for selling drugs or other illegal stuff (not saying I think drugs should be illegal, quite the opposite is the case), I think its use and - more than that - its value increase over the years goes way beyond that. People see it as asset, don't trust their currencies, buy it because of the hype, ... . Even when its use for selling/buying drugs vanishes (which will definitely not be the case everywhere in the world) bitcoin would't lose to much value because of that, in my opinion.
Re: Bill Gates Says that Bitcoin is bad For the Planet
#296Earlier quoted context omitted.
You know what actually bothers me the most about all crypto-currencies? None of them are actually money, like in the paper-or-gold-coin sense. They're all ledgers. The thing about money is that I can hand it to someone . Possession of the money is possession of the money and third parties don't need to get involved in every transaction. I can hand someone dollars and take a sandwich and walk away, transaction done. T…
>Possession of the money is possession of the money and third parties don't need to get involved in every transaction. That's only true if you discount the US government as the third party (at least for USD$) who are involved in every transaction, by virtue of them needing to exist for the $ to have any value or for the seller to accept the $ in the first place i.e for them to know it will still be worth something in…
Eh, it's arguable how much the US Government is determining the worth of dollars rather than cultural consensus. I can guarantee that in the event of a zombie apocalypse where the government falls, USD would be used for a long time after.
Re: Bill Gates Says that Bitcoin is bad For the Planet
#297Earlier quoted context omitted.
https://www.gnu.org/proprietary/malware-microsoft.html
I'm sorry, they lose all credibility when they call forced updates "malware". We spent the entirety of the late-90s/early 2000s complaining that MS didn't force updates on users, so these massive worms were infecting half the internet with exploits that were patched YEARS earlier. It took moving a mountain to get MS to enforce patching of consumer systems, to sit here now and claim that's malware is both irresponsibl…
it doesn't matter, at the end of the day..
do you think open-source OS that is widely used and audited is more secure than closed source OS like Windows?
most infosec community knows the answer. if you know yours well, good. I am not convincing anyone, anything. I just meant, there is value is looking at things objectively than reading some news articles or opinions said by some bigwigs.
Re: Bill Gates Says that Bitcoin is bad For the Planet
#298Я здесь Голая https://vk.cc/bZoVGs
Re: Bill Gates Says that Bitcoin is bad For the Planet
#299Bitcoin is an almost perfect exploitation of humanities fatal flaws (greed, unwillingness to acknowledge externalities - i.e. selfishness). It's that old SF-trope that the cause of many of humanity's biggest problems is humans.
> the cause of many of humanity's biggest problems is humans As opposed to elephants or sea urchins? How can humans not be the cause humanity's biggest problems? The Buddha taught there are three kinds of dukkha [usually translated as “suffering”]. The first kind is physical and mental pain from the inevitable stresses of life like old age, sickness, and death. The second is the distress we feel as a result of imperm…
>How can humans not be the cause humanity's biggest problems?
Think in simpler terms, like a technology used at work, or a tool used at home; I've been in enough changes in the former that tell me many people believe a new thing will be better than the old thing, even after going through that same process several times.
The introspection needed to understand that people will break the process if they want or need to is hard to come by.
Re: Bill Gates Says that Bitcoin is bad For the Planet
#300Earlier quoted context omitted.
why is it a poor way to communicate anything useful? if sending someone a dollar through venmo costs $0.0000001 worth of electricity and sending someone a dollar through the bitcoin network costs $1 doesn't that communicate everything you need to know?
In your example, you are giving concrete numbers. Concrete numbers are extremely useful. If you make a comparison without concrete numbers, it can often be misleading. It goes without saying that concrete numbers can be misleading on their own. It can be quite difficult to nail down rules for honest communication.
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