That would be the jurisdiction of Fincen.
Bitcoin Expert Predicts A $100 Trillion Market Cap
- Thread starter Nobert
- Start date
That would be the jurisdiction of Fincen.
I wonder what its electricity consumption would be if it got anywhere near $100 trillion.
https://www.sharesmagazine.co.uk/ne...o-launches-the-first-clean-energy-mining-pool
That, or a civil revolution...
The wealth gap is ridiculous and not sustainable. Capitalism needs to change, or disappear. The system is inefficient for most, and it has to adapt fast to the tech revolution. Otherwise there will be blood in the street as we ain't seen nothing yet. I am sure some governments are fully immersed into destabilizing the old western power.
Wealth gap has nothing to do with capitalism, the gap exists in all countries since the very first steps of humanity.
Changing that is equal to changing human nature.
Cryptos ain't gonna help to reduce it, but only to increase, since the people who are going to buy into these bubbles and sell during the crashes, will be the poorest/foolish ones.
timestamped
,,The war was coming to the Babylon, thus the merchant knew, that there will be a great demand of copper. All around the city, he bought most of the available copper & with few of his friends, traveled to another region to buy even more.
Few weeks later, king ordered to reinforce all of the main city gates, - with copper''
The Richest Man In Babylon 1923
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Human nature changes, and luckily it gets better with time. I think that in today's society, everything has a lot to do with capitalism, and except North Korea maybe, and some tribal community, capitalism is everywhere.
Foolish people will always be scammed, with any currencies. Fiat currencies probably hold the undisputed record of scammers and shemes.
ICO's blind buyers take a huge bet if they are ignorant about the company, their white paper and general blockchain knowledge. "Onecoin" cult run by Bulgarian mafia made it out with 4bn$ scam, but to buy onecoin you had to be very very stupid (no offence meant to buyers).
I bought a shitty token myself in an Ico that lost 90% of its value at launch, originally RKT, GBX Gibraltar stock exchange coin. I bought it because it was launched by an exchange, ripple centralised style I thought at the time... Token is now called Gate, Stacs, still worth peanuts. I deserve the 90% loss, it was a bet and I can live with it.
Luckily for me it was one of many crypto asset, the rest took off nicely.
Best NFT of the day:
Jan Brueghel the Younger's A Satire of Tulip Mania (ca. 1640)
"What has been will be again,
what has been done will be done again;
there is nothing new under the sun.
Is there anything of which one can say,
“Look! This is something new”?
It was here already, long ago;
it was here before our time.
No one remembers the former generations,
and even those yet to come
will not be remembered
by those who follow them."
"The market got to a point where more futures were in circulation then tulips in the grounds. The orders could never be collected, and everyone knew, but no one cared because the money was so good. Infected plants grow up looking super cool, so they were the most expensive, but couldn’t be replicated. Didn’t matter, everyone bought calls by the literal wagon full. Fundamentals eventually kicked in, and the price plummeted. Some tulip growers left them in fields that year. 8-10 years later the flower market was back to old level but traded at a slight discount for a few decades, which I imagen the tulip lover enjoyed"
Jan Brueghel the Younger's A Satire of Tulip Mania (ca. 1640)
"What has been will be again,
what has been done will be done again;
there is nothing new under the sun.
Is there anything of which one can say,
“Look! This is something new”?
It was here already, long ago;
it was here before our time.
No one remembers the former generations,
and even those yet to come
will not be remembered
by those who follow them."
"The market got to a point where more futures were in circulation then tulips in the grounds. The orders could never be collected, and everyone knew, but no one cared because the money was so good. Infected plants grow up looking super cool, so they were the most expensive, but couldn’t be replicated. Didn’t matter, everyone bought calls by the literal wagon full. Fundamentals eventually kicked in, and the price plummeted. Some tulip growers left them in fields that year. 8-10 years later the flower market was back to old level but traded at a slight discount for a few decades, which I imagen the tulip lover enjoyed"
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The wealth gap is ridiculous and not sustainable with BTC too. Only the holders of the wealth will be different. At this moment less than 0.4% of all wallets, control over 85% of all bitcoins. So with BTC wealth would me MORE concentrated than now. BTC is just a system for wealth transfer from people who have no BTC to people who have BTC. It will be capitalism again. it will also lead to blood in the street as we ain't seen nothing yet.
Fiat or BTC is exactly the same result. Only the people who are controlling it are different.
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I don't think so. The only equivalent to WW2 was Genghis Khan raid ?
So if one would draw a trend of the biggest tragedies of our kind (that we inflicted upon ourselves) , the peak would be very few years away.
Only that the new tech makes us react much faster nowadays.
(and because everyone has a camera in their pockets, it makes us to behave differently)
I just don't understand
With this statement, were you trying to contradict or support @NoahA 's statement ?
(that the BTC is the great equalizer)
p.s.
You liked @virtusa 's post so i think, i got it now.
I agree. True that is probably not an actual solution, but it is a disruptor, and it might stimulate changes.
I wonder what its electricity consumption would be if it got anywhere near $100 trillion.
Way way less than the fast food/junk/snacks/soda market produces.
The US has one massive obesity problem so if people are really worried about excess energy usage, focus on that sector and kill 2 birds with one stone.
BTC's energy usage is nothing compared to things like the above, and we haven't even started to talk about the energy used and wasted on the war on terror (massive failure) and the war on drugs (even bigger failure with $1trillion wasted).
So if people want to talk about Bitcoins energy usage without talking about MANY other things, it proves they don't care about energy waste and are just getting their talking points from the media.
Bitcoin's energy usage is a third rail...