Bitcoin

Out of context: Reply #1992

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  • drgs1

    https://digiconomist.net/bitcoin…

    Single transaction = 801.27 kWh
    Equivalent to the power consumption of an average U.S. household over 27.46 days
    Equivalent to the carbon footprint of 843,549 VISA transactions or 63,434 hours of watching Youtube.

    Your monthly electricity bill is what it costs to make one transaction?

    I mean, Bitcoin's carbon footprint will continue to get bigger. Attention to environmental concerns continues to increase. I don't see how this ponzi will not get cancelled at some point.

    Sometime in 2027 a "Bitcoin accepted" sticker will be like putting a swastika in your store window.

    Discuss

    drgs 1Permalink
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    • I've read both sides and think the truth lies in the middle somewhere. Also always wary of crypto FUD and the powers that be who push narratives...inteliboy
    • 801.27 kWh is 186.808 kg CO2. It costs about $3 to carbon offset that.
      1 bitcoin = $53,464, the offset price is 0.0056% of a bitcoin.      palimpsest
    • We'll eventually be able to offset ALL trades for a handful of bitcoin. Fair trade. Everybody wins.palimpsest
    • Throw NFTs in the mix and we'll solve the climate issue faster:
      https://www.qbn.com/…      palimpsest
    • Read that institutional investors don't want to invest in the "China coin" as most mining is done there so it's not decentralised anymoregrafician
    • China banned crypto but not mininggrafician
    • India is moving to ban cryptografician
    • Today about $8 bil. in bitcoin options are expiring, let's see how that will play on the price lolgrafician
    • just spend the profit before the planet looks like mars.
      by 2027 ANY carbon footprint should be banned (or 2030/2035). why wouldn‘t the crypto market adapt?      uan
    • $6B* ^grafician
    • Proof of work concept/mining is a mistake. Ethereum 2.0 is moving towards proof of stake (?), but for Bitcoin it's not possible.drgs
    • A swastika? Bro you are seriously overestimating how much people care about the environmentnb
    • bitcoin will transact in the billions per transaction rendering those numbers ridicule. Cardano, ETH2, etc will handle the coffee drinking economy with POSESKEMA
    • And LightningESKEMA
    • @ESKE lol dude you literally speculate statements, do you have any facts, proof on those statements? or just trolling again?grafician
    • it's just an opinion man. Disregard at willESKEMA
    • @ESK it's rather hard to take you seriously about anything after proposing all this nonsense really smhgrafician
    • I don't careESKEMA
    • I mean buying crypto with fiat so you can pay for coffee with crypto is baffling, but hey, life is hard already...grafician
    • If you mean exchanging fiat for crypto and go to another country and pay with crypto for coffee is dumb? The alternative is buying local currency from bank.ESKEMA
    • now imagine you didn't buy it. Someone sent it to you because you sold a jpg. It's cool to be able to buy coffee with jpgs. NESKEMA
    • you can also imagine realistic scenarios where you buy $10 of crypto, for buying sometimes a coffee.ESKEMA
    • Well, historicaly, you tend to be able to buy a lot more coffees than you could with your orginal $ and can basically pay for coffee forever without more inputESKEMA
    • Fuck off with that coffee shit, ENEMAbabydick
    • Fuck You, Candy!ESKEMA
    • @ESKEMA Well I get your points but you get that they are stupid af points? It's like trying to reinvent modern civilisation to buy a coffee...grafician
    • "It's cool to be able to buy coffee with jpgs."
      Sums up the quality of the analysis.      palimpsest
    • Also, you "[exchange] fiat for crypto" but "[buy] local currency from bank".
      Definitely not a cult.      palimpsest
    • Crypto bros have this redpill attitude towards fiat but can't see they're playing into the same system.palimpsest
    • I don't think they are the same system if one has infinite supply and the other a hard cap, and one is permissionless and the other highly restricted.ESKEMA
    • we'll live with both for quite a whileESKEMA
    • While I think all you have to do is ask yourself what is 1 Bitcoin worth.palimpsest
    • 1 Bitcoin is worth what one human is willing to pay for it. We are witnessing how it plays out, right now, 1 human is willing to exchange about $60k for one.ESKEMA
    • 1 Bitcoin is worth 60k Dollars.
      There you have it!

      You are changing an explicit master for an implicit one.      palimpsest
    • I maintain that you are playing in the same system.palimpsest
    • you could replace the dollar value by a house, or gold, or work. or whatever someone is willing to exchange for it.ESKEMA
    • Yes, you could have answered any of those but chose to answer in dollars. You said yourself that a Bitcoin was worth 60k dollars. That is what is worth.palimpsest
    • We're just going to go on circles from here.palimpsest
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