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Bitcoin Bloodbath Nears Dot-Com Levels as Many Tokens Go to Zero

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Re: Bitcoin Bloodbath Nears Dot-Com Levels as Many Tokens Go to Zero

#41

Earlier quoted context omitted.

Going from 20k to 5k seems like a crash to me...

Here is another way to look at the price: June 29 2017 BTC $2,480 June 29 2018 BTC $6,414

If a stock dropped 60% you wouldn’t consider “it was very recently 10 times lower” a positive.

Re: Bitcoin Bloodbath Nears Dot-Com Levels as Many Tokens Go to Zero

#42

I have no idea if this will end the madness but I hope it will. Given bitcoin's vast energy consumption, the "production" of bitcoins produces enough pollution to be responsible for a significant number of deaths, amortized. [1] Thus I have zero sympathy with those who may lose money here. [1] https://www.forbes.com/sites/shermanlee/2018/04/19/bitcoins-...

I always wonder about this attitude.

How do you feel about the aggregate energy consumption of all Candy Crush games being played (servers, network, phones, PCs, monitors)?

What about all the energy used to grow, harvest, produce, transport and distribute alcoholic drinks?

For that matter, what about all distributed energy used by Twitter, including all clients, data centers, network routers, corporate offices, etc (where few tweets communicate something worthwhile to an actual human)?

Re: Bitcoin Bloodbath Nears Dot-Com Levels as Many Tokens Go to Zero

#43
post #42

I have no idea if this will end the madness but I hope it will. Given bitcoin's vast energy consumption, the "production" of bitcoins produces enough pollution to be responsible for a significant number of deaths, amortized. [1] Thus I have zero sympathy with those who may lose money here. [1] https://www.forbes.com/sites/shermanlee/2018/04/19/bitcoins-...

I always wonder about this attitude. How do you feel about the aggregate energy consumption of all Candy Crush games being played (servers, network, phones, PCs, monitors)? What about all the energy used to grow, harvest, produce, transport and distribute alcoholic drinks? For that matter, what about all distributed energy used by Twitter, including all clients, data centers, network routers, corporate offices, etc (…

Obviously, modern humans use energy for consumption (and hopefully for enjoyment), to varying degrees of efficiency. Racing muscle cars isn't my thing but I recognize here's an average person spending their gasoline on something they might get something out of.

Bitcoin seems especially heinous because it a group of moderately well-off folks burning a truly vast amount of energy essentially for the purpose of getting more wealth than, say, non-bitcoin owners.

And given that unbridled energy consumption currently promises local and global disasters on an increasing scale, this particular use of energy especially outrageous.

Does that explain things?

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