Bitcoin....who's gotten into it?

**byates1** · 06-04-2022, 06:09 PM

Correct

**byates1** · 06-04-2022, 06:12 PM

Originally Posted by Mustonen

But see, you win on a technicality, debatable, but his point very much remains….

Which is all still validating the bullshit idea that BTC isn’t 100% about gettin’ yours and has to do with anything high minded. It’s still picking winners and losers, just with a system with no chance of ever doing it with any discernment or in pursuit of any kind of meaningful ideals or really even just any chance of driving the greatest overall wealth.

Bitcoin - fuck everybody else. TM

Could say that about anything. USD etc

Free time is the greatest most valuable commodity on planet earth imo. The way things have worked out for me I have an abundance of it, and plan on accumulating more as my life goes on.

Maybe a 10% weighting in BTC will help that.

**jono** · 06-04-2022, 06:17 PM

Originally Posted by byates1

Correct

So hardly worth warming the planet over.

**byates1** · 06-04-2022, 06:25 PM

Building massive nuclear arsenals pointed at each other to have just in case, there's an endeavor worth warming the planet. No folly in that. Makes total sense.

**jono** · 06-04-2022, 07:50 PM

Originally Posted by byates1

Building massive nuclear arsenals pointed at each other to have just in case, there's an endeavor worth warming the planet. No folly in that. Makes total sense.

Those were not your options. Eat more shrooms.

Then start building a breeder reactor to power us all for millenia and turn off the ugly death goo.

**byates1** · 06-04-2022, 07:59 PM

The point being you can pick a lot of hills to die on. Taking in all human energy endeavors, I'm not convinced mining BTC is that big a deal.

**jono** · 06-04-2022, 08:12 PM

Originally Posted by byates1

The point being you can pick a lot of hills to die on. Taking in all human energy endeavors, I'm not convinced mining BTC is that big a deal.

If that was your point you could have just stopped after accepting that BTC is not important. The warming is bad, but in all likelihood the diversion of human resources is actually worse. Even if we don't matter in any moral sense, we're the limiting factor on pretty much any solution to large problems.

**stalefish3169** · 06-05-2022, 08:26 AM

This thread is full of cognitive dissonance. Nocoiners have dug in so hard they argue investing in tar sands oil is just great, but green energy BTC is very bad.

Sent from my Pixel 6 Pro using Tapatalk

**schuss** · 06-05-2022, 08:33 AM

Originally Posted by stalefish3169

This thread is full of cognitive dissonance. Nocoiners have dug in so hard they argue investing in tar sands oil is just great, but green energy BTC is very bad.

Sent from my Pixel 6 Pro using Tapatalk

You can be against Bitcoin and tar sands. It's not an either or, but a both and.
I don't invest in oil companies for similar reasons.
If you want more people to listen to you, perhaps explore smaller brushes to paint people with.

**MultiVerse** · 06-05-2022, 09:13 AM

Stalefish's framing is dishonest too. Bitcoin mining relies much more on obsolete coal and gas, including Alberta tar sands, than it does renewable energy. Bitcoin miners in Texas for example claimed they would spur not only a green energy revolution but also lower electric bills for consumers.

In realty the 6GW consumed by bitcoin miners in Texas contributes to the construction of more fossil fuel plants because of the need for more energy reserves, resulting in higher electric bills for consumers. Electric rates in Texas recently surged over 70%.

Texas projects crypto mining will consume 16GW or 25% of Texas' power grid by 2026. Bitcoin proponents say most of the power used for mining in the future will be generated via renewables, in spite of the fact bitcoin relies more on fossil fuels today than it did in the past.

**Mustonen** · 06-05-2022, 09:45 AM

Originally Posted by stalefish3169

This thread is full of cognitive dissonance. Nocoiners have dug in so hard they argue investing in tar sands oil is just great, but green energy BTC is very bad.

Sent from my Pixel 6 Pro using Tapatalk

Who argued that? Be specific.

Lulz re: “green energy BTC.” As if BTC provides green energy rather than just act as a leech on whatever old energy source is cheapest and available.

Originally Posted by MultiVerse

Stalefish's framing is dishonest too. Bitcoin mining relies much more on obsolete coal and gas, including Alberta tar sands, than it does renewable energy. Bitcoin miners in Texas for example claimed they would spur not only a green energy revolution but also lower electric bills for consumers.

Not to mention the false equivalence being drawn between an energy source and an energy consumer. BTC isn’t a part of our energy infrastructure, you nincompoop.

**subtle plague** · 06-05-2022, 09:53 AM

Originally Posted by J. Barron DeJong

Close. Only off by a factor of two!

Woah....you're 160?

So argueing about bitcoin is the key to eternal life?

**J. Barron DeJong** · 06-05-2022, 09:59 AM

Originally Posted by subtle plague

Woah....you're 160?

So argueing about bitcoin is the key to eternal life?

Yep, started arguing about Bitcoin 90 years ago and still going strong.

**dunfree** · 06-05-2022, 10:41 AM

Originally Posted by stalefish3169

This thread is full of cognitive dissonance. Nocoiners have dug in so hard they argue investing in tar sands oil is just great, but green energy BTC is very bad.

Sent from my Pixel 6 Pro using Tapatalk

You don’t understand cognitive dissonance either.

how’s bitcoin freedom working out in El Salvador?

**jono** · 06-05-2022, 12:49 PM

Originally Posted by Mustonen

Lulz re: “green energy BTC.” As if BTC provides green energy rather than just act as a leech on whatever old energy source is cheapest and available.

Not to mention the false equivalence being drawn between an energy source and an energy consumer. BTC isn’t a part of our energy infrastructure, you nincompoop.

What confuses me is how people can use crypto to offer bounties on Russian equipment and soldiers in a war zone, but I never hear about the great successes of the environmental crypto tycoons selflessly replacing mining difficulty with rewards for net green energy production.

These are obviously smart people who care deeply for the planet and their fellow humans. Why do they want to stop at universal monetary equality and lambos when they could give us each a Lucid and 40-year solar arrays? It's as if they don't think big enough. Or something.

**MashedPotatoes** · 06-06-2022, 05:37 PM

haha buy my shitcoin bro!

seems like a big ponzi scheme to me, count me with the skeptics.

https://web3isgoinggreat.com/

**summit** · 06-07-2022, 10:26 AM

US Department of Justice Calls For More International Cooperation, Coordination on Crypto Law Enforcement

Information sharing and the harmonization of anti-money laundering and know-your-customer rules were also proposed in the DOJ report, which was developed in conjunction with other US agencies in the wake of the Biden White House's executive order on crypto. That EO was released in March. The report itself was drafted in response to that executive order. In the introduction, US Attorney General Merrick Garland wrote that "the growing use of digital assets in the global financial system has profound implications for investors, consumers, and businesses and increases the risk of crimes such as money laundering, ransomware, terrorist financing, fraud and theft, and sanctions evasion."

https://www.theblockcrypto.com/linke...aw-enforcement

Bad for ransomware ops (and as that is a huge usecase, bad for crypto values), good for everyone else (except speculators).

Originally Posted by MultiVerse

6GW consumed by bitcoin miners in Texas

That's fucking bonkers

Texas projects crypto mining will consume 16GW or 25% of Texas' power grid by 2026.

That is beyond insane. That is a massive threat to energy security. That alone could get it regulated (probably consumption above X gets hefty extra fees) although there would be resistance to compliance and enforcement would be fraught (similar to how surveillance of energy consumption for pot growops was done).