This is the problem: You dont listen. In the intermedium, you conflate your arguments by picking and swapping arguments. We get it. You think Bitcoin is a waste. I has almost no impact on you and nobody is forcing you to participate, but yet you have a very very strong opinion. RIOT is a customer. Again, if you listened, you would understand you are now interjecting a social contract. You're wrong about this. The customer has a right to use the energy however they see fit, regardless of your opinion. Should we start bulldozing houses because I don't think people shouldn't be cooling and wasting power on 3000 sqft houses? That would be idiotic for me to say such a thing. In a last ditch effort, you finally bring in the only logical piece to your argument; corruption. Thanks buddy! Good insight. Bitcoin mining is the only place in the industry where corruption might occur. Certainly not Enron. Yeah we get it and most of us agree. If there is corruption, it should be removed. Contrary to your opinion, you THINK there might be a possibility of corruption, so therefore it should be removed.
The part in bold and underlined simply isn't true. If that was the case, as an example, weed would be legal on a federal level, as would everything else that's considered illegal in your respected state and/or nation that you could use to grow or simply sell like a regular shop. Likewise for say a concrete business that wants to start up right in a heavily residential area. If the concrete construction company is deemed to lower property value of residential homes, increase traffic, worsen roads faster, negatively affect local habitat and have adverse health effects on residents close by, guess what happens? The place gets built in another area where the local residents there don't know their rights and aren't able to collectively exercise their rights to deny business formation there either. Other countries have already banned bitcoin mining. You already know I'm a hater. I would celebrate so hard if bitcoin mining got tossed out of Texas and was dumped in Florida instead. Have all the miners suck up energy in your state instead. Have your utility providers pay them $31.7 million to shut off for a month and that it's good for Floridians that they do that. They're just too stupid to know better.
It's just you make **** up about how it's benefitting the grid and bitcoin is green then when articles are presented that show it takes up more energy than some nations, you fall back to bitcoin is great whether you think it is or not. It's not very convincing.
Nothing I said invalidates what I said prior about bitcoin re: energy. Won't stop you from lying about that, though.
Bitcoin is green. It sometimes uses wind turbines and solar panels. Just like everything else that can be plugged into the grid and has solar panels and wind turbines operating near them too. Bitcoin is the greatest.
It's OK to be under informed or even misinformed. It's not OK to be dishonest, which seems to be where you're planting your flag now. The beautiful thing about bitcoin is that it does not require your understanding for it to function. Same goes for energy markets, too.
I just don't get excited at how bitcoin is making utility companies more profitable during non-peak load hours like you I guess. That does nothing to benefit people that actually live in Texas and aren't board members of ERCOT or utility providers. That's what you and Spaceghost are celebrating. Sajan pointed it out in an article already. When bitcoin mining operations have cloudy days or there's no wind, do they just shut down? Of course not, they will use whatever energy they can get, where roughly two thirds of the time they're using fossil fuels to operate instead. You can't really claim that bitcoin mining is green when it consumes more energy annually than some developed nations. Also the times when bitcoin is using renewables that means other energy users like residences and businesses aren't. They're stuck using fossil fuels then. It doesn't fix anything. You're the one that's being dishonest with all these made up ways that bitcoin is revolutionizing the world. The ability to make global transactions isn't revolutionary. You can do that with debit and credit cards. And it's actually better if you do because should you become a victim of fraud, you can report that to multiple agencies and depending on the amount, can receive your money back. You can't do that with bitcoin. That's supposed to be a selling point even, that it's decentralized. But again, you stated when you wish to cash out on your investment on bitcoin, you're going to a centralized bank, to take out a secure loan against it, which will have consumer protections in place and be centralized and also on ledger that can be tracked by governments and big business. You'll still exchange goods with cash you got from that loan and when you make payments on your mortgage or whatever, it's going to be in the form of US currency. All the things about bitcoin eliminating banks and decentralization being the best isn't true in a real life setting for you even then. That's dishonest. Instead what I see postulated are future predictions that no one in this thread will be alive to ever see if it happens or not. And then to have this level of hubris that it's impossible for bitcoin to fail just seems really disingenuous and wrong. How is this not disingenuous and flat out wrong?
LOLOLOLOLOL..... We are being told to conserve energy in Texas. BTC is adding absolutely nothing productive and is just a waste of energy.
Right.... and BTC isn't doing anything novel or special about it..... All you've done is come up with new jargon to describe ways to waste electricity. You can argue about the future all you want, but TODAY you are being incredibly selfish and wasteful with BTC's energy consumption.
This is how I feel about people driving oversized vehicles, living in large houses and general over consumption. Where is your condemnation about this behavior?
Where is yours? You defend Russia and bitcoin harder than anything environmental. You have over two decades of posting history and I don't think I've ever seen you make one environmentally conscious post. Seems like you're grasping at straws. At least homes house people. At least vehicles transport goods and people. Bitcoin is a decentralized currency that is capable of doing global transactions just like a debit or credit card, except it has no consumer protections in place and uses enough energy equivalent to a whole country of people to produce more coins. Housing at least serves a purpose. 18 wheelers transporting goods serves a real world purpose. Bitcoins purpose is to provide the same service already provided by centralized institutions except worse because it doesn't have consumer protections in place. That's always the thing that both you and DonnyMost gloss over the most. The complete absence of consumer protection in place. That's a huge deal.
Right, but even oversized vehicles are more productive than a speculative asset that you just HODL. A carbon tax or some other way to put a price tag on pollution would be great. Are you suggesting we ban certain vehicles? Regulate certain house sizes? Implement a consumption tax? Otherwise, BTC and oversized vehicles can be both wasteful.
Your petty trolling aside, I have explicitly stated people like yourself should stay away from Bitcoin. There is massive amounts of fraud in the 'cryptocurrency' space and people like you are are prime candidates to get fleeced because there is some obvious better 'cryptocoin' like Ripple or Cardano that is better than Bitcoin.
