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Comments (24)
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ShowMeWin 9 points ago +9 / -0

I thought the expense of creating BTC was a feature.

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DogesGoneWild 5 points ago +5 / -0

Mining bitcoin = electricity consumption Fed flipping on the lights and machines 24/7 to print paper dollars apparently uses no electricity

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deleted 5 points ago +5 / -0
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deleted 3 points ago +3 / -0
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Spaceface1970 [S] 1 point ago +2 / -1

Yes ADA is doing well, sort of hoping XRP & XDC are in amongst it as well. Could be a few coins used globally I’m hoping XRP is the bridging tool to bring them together 🤷🏽‍♂️

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CaptainButthurt 2 points ago +2 / -0

Long term i think another crypto will take its place but short term its going to be the reigning champion. Personally I'm thinking Eth or something very similar will become the king of the hill eventually.

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Dark_Shroud 3 points ago +3 / -0

Eth was being pumped. If they don't get their transaction fees under control they don't have a big future vs competitors.

Bitcoin Cash has low fees.

Doge is making a fee adjustment for the next update. Because their network fee was hard coded at 1 Doge.

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Kekistan_United 2 points ago +3 / -1

im all for crypto if the majority of the users were using it as its design intent.

YOU generate the numbers. YOU get the token-coin.

YOU own that number and its value is in what others have also agreed.

have enough users and generated numbers. you get a secure, people-owned currency...

its like everyone forgot about mtGox already.

while theres some fraction of a trillion dollars tied up in BTC...

what percentage of those 'trading in it', realize they dont own shit?

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AlexWin1939 2 points ago +2 / -0

So if I buy it on coinbase I don’t own it?

I don’t know if I ever “owned” it or not, but I’m glad I got out at 60k and made real US dollars that are now in my bank account. 38k was first my rebuy point, but feels like catching a falling knife to buy it right now

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Kekistan_United 3 points ago +3 / -0

i know folks that lost everything to mtgox; my point

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ShowMeWin 1 point ago +1 / -0

You used the exchange well.

IMO from a store-of-value perspective, eventually, if you don't 'physically' possess the commodity (private keys in this case) then you may have it yoinked especially when it rockets and attracts attention.

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FuckMeAndMyPassword 0 points ago +3 / -3

55 minutes describing how bitcoin mining as a flexible load option can solve intermitancy and congestion problems inherant in renewable energy.

TLDR People use a ton of energy when they get ready for work and when they come home from work putting a huge load on the grid for about 3 hours. Bitcoin miners can shut off for those 3 hours. The consumption of electricity for those 21 houra of down time makes renewables profitable.

Still TLDR

Bitcoin mining is good for the environment and the people saying its not are fucking retarded.

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alien_observer 0 points ago +1 / -1

wait, we still need people to do actual work.

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FuckMeAndMyPassword -3 points ago +1 / -4

When regular people use electricity the most bit coin miners shut off allowing the regular people to get their electricity.

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mechdork 7 points ago +8 / -1

lol who's actually going to shut down their mining for several hours a day?

Or better yet, maybe embrace nuclear energy until some better and more reliable technology comes around?

That is, of course, assuming you're of the whole "fossil fuels will kill is all" mentality.

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FuckMeAndMyPassword 1 point ago +1 / -0

Every major user of electricity pays variable rates. Bitcoin miners make a small profit margin. Coins mined - cost of electricity = equals profit. When the rates go up at 7am the cost of electricity becomes greater than the coina mined. They would be operating at at loss. Please tell me what miner would internationally lose money.

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mechdork 4 points ago +5 / -1

variable rates aren't as common as you think.

but even so, you're saying that miners should stop mining when electricity is at its highest rates so regular people can use their electricity are those higher rates instead?

Or better yet, since renewable energy is so.. spotty... maybe we should supplement it with something more tried and true... like nuclear or fossil fuels?

I mean we're well into the 21st century ffs... there's no need to reverse our standards of living in the name of maybe cutting back CO2 emissions? Which is to impossible to prove is destroying our planet and especially impossible to prove that mankind is even emitting enough of it to even make a difference?

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FuckMeAndMyPassword -1 points ago +1 / -2

No dumb fuck. They stop mining during those hours because during those hours they would lose money you stupid fuck.

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wethepepe 1 point ago +1 / -0

Still very bullish on Bitcoin long term (even if this is the bull run ending and even if we were to see Bitcoin retrace back 80% like the end of the last bull run).

Environment concern trolling is pure FUD garbage... Of course the people who have the most to lose if Bitcoin and a new monetary system rise up use the same tired scare tactic: climate change.

Like clock work they try to manipulate the masses from leaving the system that they prop up.

Their only hope is to try to lead people into an alternative crypto that they control.

Bitcoin is a store of value that is out of their control. They don’t like it because they can’t take if from you if you don’t fall into line. They can’t erode the value of it by just printing more.

With decentralised finance we are just beginning to see a new world where banks no longer have control

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ClemTiger 1 point ago +3 / -2

BTC to -0-

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bangbus 1 point ago +1 / -0

Nah, it’ll be higher than that, but the current market cap exceeds a lot of solid blue chip companies that generate absurd cash flow, which is completely insane.

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cryogen 1 point ago +3 / -2

BTC was coopted circa 2017.