A Eulogy for Bitcoin
pseudotheos.mirror.xyz
A Eulogy for Bitcoin
1–10 of 24 posts
Re: A Eulogy for Bitcoin
#2“ The sun is setting on the era of Bitcoin dominance. ”
The only thing that will do that is govt regulation.
Re: A Eulogy for Bitcoin
#3People have been saying that Bitcoin and cryptocurrencies in general will die soon for a while now. It has not happened. I say that it's too soon to say. Bitcoin will need to change its power consumption ways, that's for sure. But I'm one that believes that instead of reducing its power consumption, Bitcoin, the community, will find better ways to produce green power.
Re: A Eulogy for Bitcoin
#4People have been saying that Bitcoin and cryptocurrencies in general will die soon for a while now. It has not happened. I say that it's too soon to say. Bitcoin will need to change its power consumption ways, that's for sure. But I'm one that believes that instead of reducing its power consumption, Bitcoin, the community, will find better ways to produce green power.
Ironically, the past month has been much worse for Ethereum than Bitcoin, price-wise.
Re: A Eulogy for Bitcoin
#5People have been saying that Bitcoin and cryptocurrencies in general will die soon for a while now. It has not happened. I say that it's too soon to say. Bitcoin will need to change its power consumption ways, that's for sure. But I'm one that believes that instead of reducing its power consumption, Bitcoin, the community, will find better ways to produce green power.
Ironically, the past month has been much worse for Ethereum than Bitcoin, price-wise.
Ethereum has a pricing problem. How do you price an infinite asset that's cheap to produce? Previously you could peg it to the cost of production. Now its price will be directly influenced by how much it earns. I suspect that as time passes its price will go down reflecting what it costs to produce. It's good for the currency and apps that are created around it but I suspect it will be bad as an asset investment.
It has a bright future but the price appreciation of Ether by speculation is over.
Re: A Eulogy for Bitcoin
#6Earlier quoted context omitted.
Ironically, the past month has been much worse for Ethereum than Bitcoin, price-wise.
Ethereum has a pricing problem. How do you price an infinite asset that's cheap to produce? Previously you could peg it to the cost of production. Now its price will be directly influenced by how much it earns. I suspect that as time passes its price will go down reflecting what it costs to produce. It's good for the currency and apps that are created around it but I suspect it will be bad as an asset investment. It…
An infinitely deflationary currency will be hard to popularize as anything other than a fiat. With the regulation around custodial Ethereum, I doubt the whole "dApp" ecosystem is going to go anywhere beyond where it stalled-out circa-2017.
Re: A Eulogy for Bitcoin
#7The way our brain is equipped to process concepts is an over-simplification and confusing of what some refer to as the deeper reality or simply the reality that our mind obfuscates. It's worse than Plato's Cave.
It's futile to opine on things that we don't yet fully comprehend in the greater scheme of things. We don't even know (yet we think we do) what we're opining about.
Good luck with all such feeble attempts at deciphering reality.
No, this was not written by a bot, and I am talking about Bitcoin.
But I mean in general...
Re: A Eulogy for Bitcoin
#8The way our brain is equipped to process concepts is an over-simplification and confusing of what some refer to as the deeper reality or simply the reality that our mind obfuscates. It's worse than Plato's Cave. It's futile to opine on things that we don't yet fully comprehend in the greater scheme of things. We don't even know (yet we think we do) what we're opining about. Good luck with all such feeble attempts at…
Oh you’re suggesting that Timechain is actually the DNA of AI and serves as the simulacrum driving our meta reality like a fractal? Yeah it’s cool.
Re: A Eulogy for Bitcoin
#9People have been saying that Bitcoin and cryptocurrencies in general will die soon for a while now. It has not happened. I say that it's too soon to say. Bitcoin will need to change its power consumption ways, that's for sure. But I'm one that believes that instead of reducing its power consumption, Bitcoin, the community, will find better ways to produce green power.
No Bitcoin does not need to change its power consumption ways. It literally incentivises the build out of renewable energy. It will fix itself in time.
Re: A Eulogy for Bitcoin
#10People have been saying that Bitcoin and cryptocurrencies in general will die soon for a while now. It has not happened. I say that it's too soon to say. Bitcoin will need to change its power consumption ways, that's for sure. But I'm one that believes that instead of reducing its power consumption, Bitcoin, the community, will find better ways to produce green power.
No Bitcoin does not need to change its power consumption ways. It literally incentivises the build out of renewable energy. It will fix itself in time.
How does Bitcoin have literal incentives to build out renewable energy? I've heard the claim before, but I'm not following. Doesn't Bitcoin mining just incentivize generating energy in general - green or otherwise?
As a counterpoint: A recent study from Cambridge [0] estimates most of Bitcoins energy consumption still to be from fossil fuels.
[0] https://www.jbs.cam.ac.uk/insight/2022/a-deep-dive-into-bitc...