Is the crypto winter over?

[semperfrosty]

So I definitely need a "Bitcoin for idiots" help on this. Exactly what does Bitcoin got to do with infrastructure?


But Bitcoin miners are the wasteful users of energy. If they stop mining, then we wouldn't be wasting all that energy in the first place. Am I wrong in that assumption?

The above premise is the equivalent of robbing Peter to pay Paul. You can't say you're paying back ("returned energy") to the society when you're one of the biggest thieves of energy consumption.

haha.i cant help just yet.

as i said i need to research a bit more to understand what they mean.

interesting though.

i assume they havent pulled it out of thin air?

 

[schizo]

True, but Republicans tend to favor crypto more than Democrats in the aggregate. Not saying it matters; just a point of interest.

Well, this one ain't too hard to grasp. Republicans have always been (at least in my lifetime) the party of the haves and the Dems the party of the have-nots. So unless they can start paying welfare recipients with bitcoin, I don't think it will fly with the Dems.

 

[schizo]

haha.i cant help just yet.

as i said i need to research a bit more to understand what they mean.

interesting though.

i assume they havent pulled it out of thin air?

Well, I'm still waiting.

 

[Frederick Foresight]

Well, this one ain't too hard to grasp. Republicans have always been (at least in my lifetime) the party of the haves and the Dems the party of the have-nots. So unless they can start paying welfare recipients with bitcoin, I don't think it will fly with the Dems.

Yeah, that’s not it. You think the majority of Trump supporters, who represent the majority of the Republican party, are the “haves?” Forget the so-called “whales.” They don’t count; there are only a few of them and they’re the predators in the pond feasting on the fish who bought the utopian narrative hook, line and sinker.

 

[themickey]

Yeah, that’s not it. You think the majority of Trump supporters, who represent the majority of the Republican party, are the “haves?” Forget the so-called “whales.” They don’t count; there are only a few of them and they’re the predators in the pond feasting on the fish who bought the utopian narrative hook, line and sinker.

In Australian lingo, the Rupublican mob, those who are true Trump supporters, they remind me of what it is to be bogan.

 

[johnarb]

In Australian lingo, the Rupublican mob, those who are true Trump supporters, they remind me of what it is to be bogan.

Yee Haw

Red, Blue, Brown, Rainbows, all the same, all distractions,

Good book

 

[johnarb]

Energy use still an issue.

Bitcoin miners are paying for energy in a free open market

All the electricity used in Vegas, all the electricity used by gamers, all the electricity used by websites like ET, all the electricity used by AI (now being targeted) all the electricity used by dishwashers and clothes washers and dryers are paid by people and companies that have the means

 

[johnarb]

But Bitcoin miners are the wasteful users of energy. If they stop mining, then we wouldn't be wasting all that energy in the first place. Am I wrong in that assumption?

You are wrong

Bitcoin miners are securing the Bitcoin network, providing security to a global monetary network that has settled more value last year than Visa, over $14 Trillion settled onchain

Bitcoin mining is one of most competitive industry wrt cost-efficiency and it forces them to seek out the cheapest most abundant sources of energy and this means renewable energy that would otherwise not have any buyers

Examples of these are geothermal energy in places like Iceland, excess energy production from solar and hydro and even harmful to environment energy such as flare gases, stranded energy in remote places that have running water

If Bitcoin miners were to use expensive electric like the ones in the city or other places where energy is not abundant and high in-demand, they would go bankrupt very quickly

 

[David's faith]

So guys, do you believe in the upcoming cash shortage John Doe is getting hit by will make for a revival of crypto?

 

[semperfrosty]

So guys, do you believe in the upcoming cash shortage John Doe is getting hit by will make for a revival of crypto?

Can't hurt! haha.

Is there a chance of a biblical analogy re BTC? What about the confusion of tongues (each country having its own currency) absolved by the Lord via a world currency and we all live happily ever after! hahaha