No I get it. Invest in bitcoin and hold. It's the greatest. It's green technology. How come you always gloss over basic consumer protection? That's a huge deal. You can't even mount up a pitiful defense of it that's some made up bullshit.
It's a silly, subjective argument to begin with. Of course you're going to think Bitcoin uses 'too much' energy if you think it has no value. Those who feel this way are fighting a losing battle and will suffer because of it. As they say, everyone buys bitcoin at the price they deserve.
Shitcoiners make their living preying on the ignorance of people like this. On the flipside, how many shitcoins are there now? Imagine an innovation so profound it spawns 20,000+ redundant derivatives in 10 years... A fool and his value are soon parted, or in some cases, they never meet to begin with.
This guy quotes Nic Carter, a venture capitalist for alt coins as his defense of bitcoin's use of the energy grid. He quotes Dan Held, a leader of marketing for Kraken. Not someone that's an expert on energy consumption. Then he's quoting 2020 Cambridge data analytics on the grid when I shared with you 2023 data as of April of this year. I can't believe you shared that and I actually sat through it. The dude in the video you shared quotes a shitcoiner in defense of bitcoin grid usage. And again you've done nothing to address consumer protection. Neither you or Spaceghost can even make up some bullshit about how bitcoin is actually better for the consumer by not having protections for things like fraud in place. And again all Spaceghost can do is say I would fall prey to a shitcoin scam when you can't even sell me on the legitimacy of bitcoin. How would I fall for some **** y'all can't even convince me has real world purpose?
Cool? None of this amounts to a counter argument. I'm with @Space Ghost at this point. You should stay away from Bitcoin.
Why share a video of someone who can't even quote energy experts on how good bitcoin is for energy consumption? Why share a dude that quotes outdated 2020 Cambridge data when I shared 2023 data current to April of this year that refutes what was said in the video? Why continue to share disingenuous information and play it off as real?
We, meaning you and I, already discussed consumer protection. Go back and read if you want to relive that. As for you, you're more likely to fall for scams because you are not very well informed yet seem to think you are. Poor judgement coupled with high confidence makes a pretty easy mark.
Because I actually agree with you. There needs to be better protection for ignorant people. FTX should have never happened. Every Bitcoiner will tell you this. But yet you have this clown raking in billions of dollars and donating it off to political groups for protection. If the government will not stop an very obvious ponzi being blasted to the the lowest informed people, then yes, obviously we need better protection but its crystal clear the protection is not coming from our current government. I am not here to sell you on the legitimacy of bitcoin. I am doing the complete opposite. Stay away. You will lose money. I am not sure how much clearer I need to be. Bitcoin is not for you. It will not make you rich. It will not be your savior. You ONLY see this as a money play.
Aren't you the one that's invested so heavily into crypto you need to take out loans against your investment to centralized banks to pay off your mortgage? Doesn't that sound like you're the one in over your head? I'm not the one touting bitcoin as the savior for all of humanity including the energy grid. That's you. It's you and tallanvor and SpaceGhost and Commodore, which is great company to have siding with you by the way on matters that make grandiose claims of how it's saving Afghan women and is green even though it consumes fossil fuels more than it uses renewables and when those renewables are used by bitcoin that means they're not being used by residences and other businesses, who will then be stucking using fossil fuels. You can't make **** up about how bitcoin is doing all these great things and then be upset when multiple people raise an eyebrow to such spurious declarations. It's very difficult to even be really good and purposeful at one thing. Enthusiasts such as yourself claim bitcoin does multiple things that it simply doesn't do, yet y'all can't shut the **** up and stop making disingenuous claims for pages and pages. Stop that. You want me to bow out of this thread? Stop making **** up about bitcoin being some savior for humanity. Cut that **** out. And I will cut out too.
I mean come on, having the energy usage of six extra Houston's every year can't be good for the environment. Y'all are celebrating how this makes utility providers wealthier while it does nothing to actually benefit residents that live here. Of course JuanValdez is going to have nothing but positive things to say. He's been on energy grid damage control on this board since the snowstorm in 2021.
The energy one would have been a great argument to settle for the bitcoin bois but even that one they can't come up with a legitimate response with actual facts. but all we get are grandiose claims like this: if it wasn't for bitcoin, no one would have invested in renewable energy. so sad.
Lol what? It's honestly amazing how little you seem to understand what is said to you in this thread. I pay my mortgage like everyone else, monthly, using my paycheck. I have the majority of my savings in bitcoin. As bitcoin accrues value, one day I plan to retire and start taking loans out against my bitcoin to pay for my cost of living (mortgage included). I won't "need" to do this, I will simply be able to. Key distinction you apparently missed. Meh. I'll just put you on ignore, where you honestly should have been already. You bring nothing of value to the subject and just dishonestly eat time. I'm good.
shoe manufacturing and internet posting are intermittent users of power and require additional cost to connect to the grid and transport to the end user bitcoin mining is a steady state consumer of power and requires no transport, you can mine at the source of power generation so bitcoin mining provides a floor of 24/7 demand that lowers the threshold for profitability, which means windmills that would otherwise be unprofitable and not built can now be built (wind power is still r****ded, but it will be more profitable with the option to mine bitcoin than without)
https://digiconomist.net/bitcoin-energy-consumption Energy and Electronic Waste : Comparable to the power consumption of Netherlands. A single transaction: Equivalent to the power consumption of an average U.S. household over 22.78 days. Electrical Energy Comparison 447,068 The number of VISA transactions that could be powered by the energy consumed for a single Bitcoin transaction on average But good thing bitcoin is the only way we can have sustainable energy!!
Again, you're going to run to a bank to cash out on bitcoin even though the big selling point of bitcoin is how it's to take power away from big banks and government. You're circumventing the whole selling point you make to others about bitcoin when you plan to retire. What's the ****ing point of it then?
This is why I have to selectively choose what I click on that's suggested here. I get dumb recommendations like this now. Thanks.
You know very little about energy, as do I. There are vast amounts of untapped hydro sitting out there. NG fields literally set the NG on fire and burn it when it cost more to bring to market. The Pacific NW sits on massive amounts of hydro. They have so much energy they run generators at half capacity. (This is one reason why the NW is a tech hub). There are geothermal generators all over the world that generate more energy than will be used. Africa has massive amounts of hydro capacity but its too expensive to build out as there is little economic activity and the locals can't afford it. Bitcoin miners chase this cheap energy. They can bring the demand to the supply, to otherwise bring a profit to the generator that would otherwise either struggle or not exist. What you're basically telling me is that rural Africa community should continue to struggle with energy demand because Bitcoiners have no business building generators on their rivers.. that would otherwise bring abundant energy to these rural communities.
I think you're being incredibly disingenuous claiming that bitcoin miners out of the kindness of their hearts go to 3rd world countries to consume energy from their grids to uplift the people struggling there. Bitcoin mining was booming in Kazakhstan. Then it was gone. Miners flocked to the country to take advantage of cheap energy and loose regulation. Now most of them have moved on, leaving little behind but moldering equipment and social tension. If the parts highlighted doesn't describe Texas politics, including ERCOT and an already unstable grid, I don't know what else to tell you. As a Floridian you may pass off some fake care about the state I actually live in, but this **** could have negative consequences to the state I was born and raised in. It matters more to me than it does you, a petty investor that seems incapable of sharing genuinely good information on bitcoin and it's functional purpose.
