Supdawg Posted March 27, 2023 Report Share Posted March 27, 2023 Bull bull NashvilleNinja 1 Link to post Share on other sites More sharing options...
BobbyCoins Posted March 27, 2023 Report Share Posted March 27, 2023 As an environmentalist, what is your perspective on how Bitcoin, specifically bitcoin mining, positively or negatively affects the environment? Bitcoin is a technology. It can do good things, it can do bad things. What we decide to do with it is what determines its positive or negative effects on the planet and humanity. Some miners chose to grow very fast without considering their environmental impact. Thankfully, the way proof-of-work functions is that it has a built-in mechanism to keep this high-time preference in check. So, while we have seen miners make poor choices in the past, I think that miners are starting to realize that they will perish if they grow too fast. As a result, there is hope that Bitcoin can have a positive impact on the environment. Our existing monetary and economic system does not work this way. The existing system only prioritizes the present over the future. It promotes growing fast and maximizing profits at all costs. There's no mechanism to wipe out the players that did not think long term or who took on too much risk. More importantly, with proof of work, there is no bailout for those miners that fail. Due to the fact that bitcoin miners are forced to find the cheapest electricity, feel a downward pressure due to the difficulty adjustment and the near-perfect competition market dynamics of mining, they are driven toward waste energy. This turns out to be very helpful for the environment because a lot of these energy sources are bio-methane like in landfills, livestock waste and so on. Anthropogenic methane is the number-two source of global warming, second only to carbon dioxide. If we are trying to prevent tipping points, then it makes sense that we would want to try to buy ourselves some time and reduce the warming potential over the short term. Bitcoin miners are highly flexible and location agnostic. They can monetize the early phase of a methane capture system that takes the methane gas and converts it to electricity. https://bitcoinmagazine.com/culture/margot-paez-on-progressive-bitcoin?utm_source=carrot&utm_medium=partner&utm_campaign=carrot_share Supdawg 1 Link to post Share on other sites More sharing options...
titanruss Posted March 28, 2023 Report Share Posted March 28, 2023 (edited) On 3/26/2023 at 2:14 PM, NashvilleNinja said: I get that, but the US isn't the only country engaged in inflationary ridiculousness. In fact, there aren't even a handful of nations so far that aren't engaged in it. El Salvador may be on a bitcoin standard, but the entire country is 5x smaller than Tennessee. It's like driving from Paris to Chattanooga. Maybe apocolypse is a strong word given the connotations, and maybe my worry is misplaced, but you seem like you're looking at things from a satellite's point of view. People going through the shit aren't going to share the same rosey outlook. Everything plays off our inflation until we are unpegged as the default world currency... and then it still will to an extent. In this conversation I was simply stating that if the USD loses it's status, the world wont fall apart so much that we have no internet... and if it does then it wont be long.... and if for some crazy left field weird reason it is a long time because like the world is enveloped in a mega endless EMP storm... then saying BTC wont be working is by far the last of the things to worry about. The USD wont be working either.. nor any of the government. If you are worrying that things would go to shit if the USD is no longer the default currency and it's value won't be as high... then that is the EXACT reason you would buy BTC. Edited March 28, 2023 by titanruss NashvilleNinja 1 Link to post Share on other sites More sharing options...
BobbyCoins Posted March 28, 2023 Report Share Posted March 28, 2023 Supdawg 1 Link to post Share on other sites More sharing options...
BobbyCoins Posted April 2, 2023 Report Share Posted April 2, 2023 On 3/28/2023 at 4:47 PM, titanruss said: Everything plays off our inflation until we are unpegged as the default world currency... and then it still will to an extent. In this conversation I was simply stating that if the USD loses it's status, the world wont fall apart so much that we have no internet... and if it does then it wont be long.... and if for some crazy left field weird reason it is a long time because like the world is enveloped in a mega endless EMP storm... then saying BTC wont be working is by far the last of the things to worry about. The USD wont be working either.. nor any of the government. If you are worrying that things would go to shit if the USD is no longer the default currency and it's value won't be as high... then that is the EXACT reason you would buy BTC. Another take on btc mooning. https://finance.yahoo.com/news/balaji-srinivasan-1m-bitcoin-bet-160259993.html Therefore, my primary concern is whether bitcoin will be used as an inflation hedge by those most in need of it in the world. A hedge requires understanding, forethought and planning, and, in my opinion, too many people are missing the warning signs, like the frog chilling in his lovely warm pan of water. Sadly, those who benefited most from the Cantillon effect may be better placed to benefit from exploiting Bitcoin's store of value utility than those who, time and again, bear the brunt of financial mismanagement. A large proportion of people Bitcoin is supposed to protect will be cast adrift. titanruss 1 Link to post Share on other sites More sharing options...
Supdawg Posted April 5, 2023 Report Share Posted April 5, 2023 titanruss, and Jamalisms 1 1 Link to post Share on other sites More sharing options...
BobbyCoins Posted April 8, 2023 Report Share Posted April 8, 2023 On 4/5/2023 at 12:08 PM, Supdawg said: Welp, there goes another Kennedy... Link to post Share on other sites More sharing options...
9 Nines Posted April 8, 2023 Report Share Posted April 8, 2023 what a joke. OILERMAN 1 Link to post Share on other sites More sharing options...
BobbyCoins Posted April 11, 2023 Report Share Posted April 11, 2023 On 4/8/2023 at 12:41 AM, NashvilleNinja said: Welp, there goes another Kennedy... Yep... Link to post Share on other sites More sharing options...
Supdawg Posted April 11, 2023 Report Share Posted April 11, 2023 Link to post Share on other sites More sharing options...
BobbyCoins Posted April 11, 2023 Report Share Posted April 11, 2023 48 minutes ago, Supdawg said: ZombieCoin gonna eat your brain Link to post Share on other sites More sharing options...
wiscotitansfan Posted April 11, 2023 Report Share Posted April 11, 2023 (edited) 2 hours ago, Supdawg said: So it's only down 25% from this time last year? I don't blindly hate crypto and have a chunk of cash invested in it but you basically chose a timeline to show where it is relative to the lowest it's been in years Edited April 11, 2023 by wiscotitansfan OILERMAN 1 Link to post Share on other sites More sharing options...
Supdawg Posted April 11, 2023 Report Share Posted April 11, 2023 Just now, wiscotitansfan said: So it's only down 25% from this time last year? I don't blindly hate crypto and have a chunk of cash invested in it but you basically chose a timeline to show where it is relative to the lowest it's been in years Sure, the same thing happens when it's down. People come into this thread and laugh when it's down. Obviously, it's a volatile asset class. Point in time calculations always miss context. The bigger picture is while the US economy is heading toward a dumpster fire, BTC has emerged from the bear market and trending into the next bull market that should last at least 18 months. 30,000 US dollars for one decentralized, immutable, unhackable Bitcoin is incredible considering the multiple black swan events over the past 12 months, the tightening of the FED, and general consensus the US is heading into a recession. People keep accumulating. It's always been a very simple thesis with Bitcoin. You have a deflationary supply schedule with nearly unlimited fiat to purchase it with. Link to post Share on other sites More sharing options...
wiscotitansfan Posted April 11, 2023 Report Share Posted April 11, 2023 (edited) 6 minutes ago, Supdawg said: Sure, the same thing happens when it's down. People come into this thread and laugh when it's down. I get that. But the point is that my stock portfolio is down much less than that 1 year time frame of Bitcoin (certainly down a lot less if you go back to when BTC was booming) and it's up almost just as much YTD so if I were to have put all my money in one or the other, the stock market has come out ahead. If you want to say that down the line (or going much further back to before crypto boomed) BTC will show greater growth then sure, there's likely very valid points to make but your chart shows nothing at all related to that. Edited April 11, 2023 by wiscotitansfan Link to post Share on other sites More sharing options...
Jamalisms Posted April 11, 2023 Report Share Posted April 11, 2023 So many people who bought into Bitcoin did it at the height and they're still down ... assuming they haven't already cut and run. That's the period that tends to matter. Link to post Share on other sites More sharing options...
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