This is dumb but only because we don’t worry about energy use any other time. Tons of places in my city keep all their lights on 24/7 unnecessarily, we all are sitting on a “useless” social media, video games and movies and music are all energy uses. I don’t want the government to start limiting energy use on things it deems unimportant. Who gets to decide what counts? Just implement a carbon tax and energy use will go down if people don’t want to pay. We don’t need to police everyone’s usage, we just need the cost to actually reflect the externalities.
I want to agree with you, but crypto mining is orders of magnitude more energy than the worst lazy energy leaks.
The computers that run the stock market have gotten to keep their electricity consumption a secret for over 40 years.
It’s like that meme of the two spidermans pointing at each other.
keep mum about energy use
Whose mum?
This is a loss for everyone. Fuck these clowns.
Bitcoin is currently at $57,000 and it’s up 144% in the last year. Haters gonna hate
Make sure you keep your money in bitcoin so when it crashes we can all laugh at you. Again.
Right now I’m up over 400% on my bitcoin, it’s by far my best performing investment. Come back to this comment in 6 months and see where it’s at.
Oh I will.
popcorn.gif
I was a couple months off, but I wanted to let you know that bitcoin hit a new all time high.
Haha, I also came back to check on the popcorn guy.
You were right. It is fun to eat popcorn while watching your investment increase in value by an additional 50% in a 9 month period of time. 🍿🤓
Gonna try this out
@remindme@mstdn.social 180 days
@Gigan Here is your reminder!
There’s a RemindMe bot on Lemmy?! Now I’ve gotta try this out.
@remindme@mstdn.social 24 hours
@TheImpressiveX Ok, I will remind you on Wednesday Feb 28, 2024 at 1:39 PM PST.
@TheImpressiveX Here is your reminder!
@Gigan Ok, I will remind you on Sunday Aug 25, 2024 at 2:18 PM PDT.
How’s that popcorn tasting?
Wow, a volatile currency backed by nothing has large swings in value and if you pick the right date range you can tell any story you want? That’s pretty amazing.
What is fiat backed by?
Militaries, usually.
A nicer way to put that is that taxes are collected in national currencies. You can use any currency you want in private transactions but when the tax man comes calling, you better have the government’s preferred currency.
Also, what are cryptocurrencies backed by? Why do y’all exclusively call government money “fiat” when that just means it isn’t backed by a precious metal? Is there a Bitcoin Ft. Knox out there making it not a fiat currency?
And the military is backed by fiat currency. It’s turtles all the way down!
It may require a bit of TradFi history to truly understand Bitcoin and why it was even created in the first place. Much too long to even attempt at concatenating in a lemmy comment. Bitcoin wasn’t a get-rich-quick scam like the majority of shitcoins today. CypherPunk movement had been working on a trustless system without a governing authority pre-Bitcoin (see e-cash).
Government backed currencies require trust. In the US you are trading IOUs issued by the Federal Reserve, which isn’t even a Federal branch, but privatized business. There have been numerous times where the heads of the Fed have outright stated they simply enter numbers into a computer to issue money to Central banks, etc. Since Americans were robbed of a tangible currency, backed by Gold, the money printer has quite literally gone “brrrrr”.
I don’t trust the government or the bankers who have repeatedly financially rape the citizens. Remember the 2008 collapse? No one was held accountable. So, they’ve found new loopholes to continue pillaging the fiscally uneducated. The trust has been long gone as we’re repeatedly lied to.
This is what Bitcoin has sought to solve in that it’s not debased due to over issuance, unlike most fiat currencies. It doesn’t contribute to inflation, causing your purchasing power to be decreased. It quite literally removes the powers from corrupt bankers and gives it to the people.
On the subject of energy consumption, yes it has historically taken quite a lot for Proof of Work miners. However, in year’s past the miners have done a significant job at only using either green power sources or buying overproduced energy from companies. This has seen it drop far below the energy consumption of legacy banking or the Military Industrial Complex.
So, what you’re saying is, if fiat is backed by militarism, it’s really backed by death.
Well, luckily, you don’t have to worry about explaining TradFi history to me since I studied a lot of it in college and after. To me, Bitcoin and cryptocurrency advocates haven’t read enough about the 1800’s, whether it’s the Free Banking Era or all the post-civil war panics (including the Panic of 1907 so don’t stop at 1899). A lot of hard lessons had to be learned before we created the modern system.
Yeah and look at how much things have changed since then… Why throw the entire concept of creating a digital currency/ledger? Why be so against it at the core? It’s one thing to be against Bitcoin, or proof-of-work, or literally any other current method of digital currency, but why dismiss the concept outright as some kind of old-timey dog & pony show who will be another lesson we learn the hard way?
Sounds like Luddite thinking to me. Sounds like fear of new technology.
How many literally countless attempts at human flight were there, many that were awful, stupid ideas, before we finally figured out the best way to do it?
Or maybe we should have just given up on the idea of air travel altogether…
