Many of the arguments here are interesting, but the idea that Bitcoin is extremely energy intensive does not hold up. Fiat currencies ultimately cause far, far greater energy consumption and waste of every kind, including war. Fiat currencies are essentially a blank check for governments to spend as much as they want whenever they want, …
Many of the arguments here are interesting, but the idea that Bitcoin is extremely energy intensive does not hold up. Fiat currencies ultimately cause far, far greater energy consumption and waste of every kind, including war. Fiat currencies are essentially a blank check for governments to spend as much as they want whenever they want, and we have seen this in no uncertain terms this past year. It's also telling that all of the major belligerents of World War I went off the gold standard. America's going off the gold standard in August, 1971 was supposed to be a temporary measure, and it marked the beginning of the era of ever increasing income disparity, with woeful results for what is left of the middle class. Fiat currencies have also deprived savers of their due return, encouraged speculation, and in turn financialized the economy. The financial sector accounts for nearly as much of the economy today as manufacturing. Finance should be there to support industry, not be the backbone of the economy. Alas, today, far more smart people go into finance than would otherwise, and the economy has been less stable than during the gold standard era. Much, much more could be said about the waste enabled by fiat, enough to fill volumes and volumes of literature.
As an aside, is anyone going to press for prohibition of Christmas lights and gaming? Both consume for more energy than Bitcoin, but nobody says anything about them.
Ultimately, Bitcoin is by far the cleanest currency and would do much for world peace if adopted as the world reserve currency. Most people who say otherwise are merely statists who want to control every aspect of the people's lives. Going forward, it's Bitcoin or bust. It's either going to be personal freedom or a Black Mirror hell of Chinese-style government.
Many of the arguments here are interesting, but the idea that Bitcoin is extremely energy intensive does not hold up. Fiat currencies ultimately cause far, far greater energy consumption and waste of every kind, including war. Fiat currencies are essentially a blank check for governments to spend as much as they want whenever they want, and we have seen this in no uncertain terms this past year. It's also telling that all of the major belligerents of World War I went off the gold standard. America's going off the gold standard in August, 1971 was supposed to be a temporary measure, and it marked the beginning of the era of ever increasing income disparity, with woeful results for what is left of the middle class. Fiat currencies have also deprived savers of their due return, encouraged speculation, and in turn financialized the economy. The financial sector accounts for nearly as much of the economy today as manufacturing. Finance should be there to support industry, not be the backbone of the economy. Alas, today, far more smart people go into finance than would otherwise, and the economy has been less stable than during the gold standard era. Much, much more could be said about the waste enabled by fiat, enough to fill volumes and volumes of literature.
As an aside, is anyone going to press for prohibition of Christmas lights and gaming? Both consume for more energy than Bitcoin, but nobody says anything about them.
Ultimately, Bitcoin is by far the cleanest currency and would do much for world peace if adopted as the world reserve currency. Most people who say otherwise are merely statists who want to control every aspect of the people's lives. Going forward, it's Bitcoin or bust. It's either going to be personal freedom or a Black Mirror hell of Chinese-style government.
Just ignore the anti energy, anti growth, anti human propaganda. That is all it is. Energy use harms no one.