> “After all, the product itself has no intrinsic value and derives its appeal only from acceptance by others.”
Ok, what's the intrinsic value of a $ or € bill then?
CPB director: The Netherlands must ban Bitcoin and other cryptocurrencies
111–120 of 210 posts
Re: CPB director: The Netherlands must ban Bitcoin and other cryptocurrencies
#112Earlier quoted context omitted.
Maybe? Although, which one do you think is easier to ban? If cryptocurrencies were to disappear tomorrow, would the everyday life change? And if we ban meat? Which one do you think will encounter the most resistance? So which one is the most feasible? And then, which one do you think has the best return on investment?
Best return on investment is most definitely finding new ways to produce energy and new ways to sequester greenhouse gases. Anything else is a minor dampener to an exponential process. Getting rid of Bitcoin is absolutely nothing compared to our exponentially increasing energy needs. Lowering greenhouse emissions to 0 today would still result in dire consequences when the temperature increase comes, just from the mas…
Whether we develop new clean energies without reducing our energy consumption, or we reduce our consumption while doing the development, can make the difference between catastrophic failure and hope.
This is why I think it is important.
Re: CPB director: The Netherlands must ban Bitcoin and other cryptocurrencies
#113Earlier quoted context omitted.
Okay, and how do cryptocurrencies fix this? Mining is supposed to be increasingly cost prohibitive so in an ideal world it would eventually cease to have a meaningful impact on currency supply within practical timeframes. Assuming economic growth holds, this would mean constant deflation (i.e. value of the currency continually increases as its supply remains quasi constant while the overall economy increases). Since…
that "would" in your shift argument is already reality, that's the lightning network, which transmits bitcoin off-chain for pennies, but in a decentralized way, because it utilizes existing bitcoin balances on lightning nodes for it. There is still no bank, BUT there is a more centralized "arbiter", yes. So your argument does hold about the trustlessness, though not entirely the centralization. The one thing that's c…
> that "would" in your shift argument is already reality, that's the lightning network,
The reality today isn't lightning network but centralized exchanges. That may change in the future but it might not.
Re: CPB director: The Netherlands must ban Bitcoin and other cryptocurrencies
#114Everyone needs to ban Bitcoin... and likely other cryptocurrencies. Not only are they by far the biggest enablers of ransomware (which we're supposedly taking seriously now), but Bitcoin emissions alone could push global warming above 2°C. [1] Bitcoin already consumes 0.55% of energy produced globally. [2] [1] https://www.nature.com/articles/s41558-018-0321-8 [2] https://hbr.org/2021/05/how-much-energy-does-bitcoin-a…
Cheap plastic disposable goods shipped from China on polluting cargo ships are a huge source of environmental damage. This is a direct result of consumerism. Where is the plan to deal with that? Bitcoin energy use is just a stick used to beat it, it is not a genuine concern. Why? Because most people who raise the issue are not green environmentalists, they are just bitcoin detractors. They don't highlight the issues with energy use in other sectors, they don't worry about the emissions from concrete production and building etc. Why? Because complaining about them does not further their goal.
Re: CPB director: The Netherlands must ban Bitcoin and other cryptocurrencies
#115The reason we have to go to the trouble of making cryptocurrencies is that busybodies like this guy are endlessly trying to reduce our freedom. They're not trying to look out for people; they're trying to protect their ability to print money and steal. In crypto parlance, they want to remain the VIPs that have centralized special privileged access to create tokens, and force usage thereof. But now we have the technol…
I don’t think that the Netherlands is the country where wealth is routinely stolen from common folk.
https://en.wikipedia.org/wiki/List_of_countries_by_wealth_in...
Take a look at this list and see which country has the highest wealth inequality in the world. Hint: it's the Netherlands.
Re: CPB director: The Netherlands must ban Bitcoin and other cryptocurrencies
#116Earlier quoted context omitted.
I don’t think that the Netherlands is the country where wealth is routinely stolen from common folk.
Depends how you obtained that wealth. The people love personal success stories, but dislike people who show off too much or exploited certain situations. There is this guy that made quite some money on covid masks. A lot of people were not too happy he made a profit on that.
People aren't happy about that because he told everyone he was doing it for free. That he wasn't making a profit on the deal. Also, he used inside info to sell his trash quality face masks.
Fuck Sywert van Lienden, disgusting crisis profiteer.
Re: CPB director: The Netherlands must ban Bitcoin and other cryptocurrencies
#117Earlier quoted context omitted.
A million? Can you back this up somehow? Did you take in account the infrastructure and offices of our existing "technology"?
> Equivalent to the carbon footprint of 1,659,173 VISA transactions or 124,768 hours of watching Youtube. https://digiconomist.net/bitcoin-energy-consumption/
And YouTube streams 1 billion hours of video a day, what's the carbon footprint of that? Is watching despacito or gangnam style really better for the world than a bitcoin transaction? Is it worse? Who is the arbiter if these decisions?
Re: CPB director: The Netherlands must ban Bitcoin and other cryptocurrencies
#118Earlier quoted context omitted.
Bitcoin is the biggest enabler of cheap renewable energy, gtfo with the list about bitcoin causing global warming. It is getting ridiculous. Pollution causes fucking global warming, ships, cars industry concrete. This idiotic scapegoat of BTC is killing the planet is akin to the crying Indian campaign. Its a misdirection to avoid talking about real causes and solutions to global warming.
Thats bs. Everything that requires energy advances global warming. Bitcoin is a disaster compared to any other value or money transfer. Everybody mining bitcoin is using the cheapest energy source available which currently is coal. Get your facts right, stop destroying the world of our children!
>Everybody mining bitcoin...
This is just demonstrably false.
https://www.politico.com/magazine/story/2018/03/09/bitcoin-m...
https://www.bloomberg.com/news/articles/2020-12-27/bitcoin-m...
https://www.waterpowermagazine.com/news/newsbitcoin-mining-p...
I could go on, but I won't, I just wanted to show how hysterical and full of BS you and people like you are.
Re: CPB director: The Netherlands must ban Bitcoin and other cryptocurrencies
#119Everyone needs to ban Bitcoin... and likely other cryptocurrencies. Not only are they by far the biggest enablers of ransomware (which we're supposedly taking seriously now), but Bitcoin emissions alone could push global warming above 2°C. [1] Bitcoin already consumes 0.55% of energy produced globally. [2] [1] https://www.nature.com/articles/s41558-018-0321-8 [2] https://hbr.org/2021/05/how-much-energy-does-bitcoin-a…
Bitcoin is the biggest enabler of cheap renewable energy, gtfo with the list about bitcoin causing global warming. It is getting ridiculous. Pollution causes fucking global warming, ships, cars industry concrete. This idiotic scapegoat of BTC is killing the planet is akin to the crying Indian campaign. Its a misdirection to avoid talking about real causes and solutions to global warming.
I suppose by this you mean Bitcoin incentivizes investment in ever-cheaper electricity generation, but does this actually result in cheaper electricity for other purposes, or would the Bitcoin demand simply expand to consume all of that cheap electricity?
Re: CPB director: The Netherlands must ban Bitcoin and other cryptocurrencies
#120Earlier quoted context omitted.
Bitcoin is the biggest enabler of cheap renewable energy, gtfo with the list about bitcoin causing global warming. It is getting ridiculous. Pollution causes fucking global warming, ships, cars industry concrete. This idiotic scapegoat of BTC is killing the planet is akin to the crying Indian campaign. Its a misdirection to avoid talking about real causes and solutions to global warming.
Thats bs. Everything that requires energy advances global warming. Bitcoin is a disaster compared to any other value or money transfer. Everybody mining bitcoin is using the cheapest energy source available which currently is coal. Get your facts right, stop destroying the world of our children!
> Bitcoin is a disaster compared to any other value or money transfer.
You mean to facilitate money transfer between banks it only take a bit of electricity. But you dont consider the needs of whole organisation called bank to work. Staff commuting, maintenance, running bills etc. All of that produces pollution. So your simple analogy suddenly is not that simple (as any simple explanation to complicated problem).
> stop destroying the world of our children!
Gtfo, what is this republican rally?? 'Think of the childed, oh no, oh woes!'
How about we stop fossil fuel lobbies attacking green initiatives, how about we stop cruse ship industry and mindless consumption from a cheap plastic crap to new electronics iterations every 1/2 a year. Wasteful packaging, imports of non-seasonal foods, rocket lunches of useless crap into orbit akin to star link at el. American army was running country wide program of air-conn desert camps for it troops for what 20 years. A fucking 24/7 AC of a desert not to mention about of carbon wasted shooting/bombing/occupying Afghanistan to literally zero effect. What about those ''none issues'' ?? But no, the evil BTC is the only thing to fight to save the world for the children.