/biz/ - Business & Finance

>>51337873
Highest number. All that matters.

>>51337873
Nobody cares

>>51337873
0.05 of all global energy
>Disgusting
Nice try, Jew but I'm buying more

>>51337976
>0.05 of all global energy
For how many active daily users? Less than one million would be my guess. BTC is outdated garbage that has failed every single adoption narrative so far.

>>51337873
it’s stupid isn’t it can anyone manage to justify why the mining process needs to be so detracted and circular from the process of securing the network / validating?
>because nation state level actors
uhm i thought adoption was supposed to solve that problem
>it doesn’t only energy access can solve that problem because
>because

The more you think about it, The more you realize that BTC is actually garbage. It is the equivalent of being excited for fax in 2022. Networks such as ETH and especially when it is supported by Polygon are just capable of so much more. It's not even a competition. Sorry BTC maxis try not to seethe too hard.

>>51337873
>>51338188
>>51338215
>>51338243

>SHUT IT DOWN

>>51337873
It's still one of the most ingenious ways to secure a decentralized network, 13 years later. I've yet to meet anyone who technically understands btc who says it wastes energy.

I'm sick of production companies wasting computing power processing special effects for amazon and Hulu capeshit. We need to conserve

>>51338970
I'm sick of all the porn sites that waste web server energy, especially furry

>>51337873
would you rather have a printed out of thin air asset with centralized control. and a permissioned network? go research mining. its a feature not a bug. also it promoted energy production. as mining bitcoin is useful for waste energy and overproduction. like flare gas and windmills during times when there is enough power. do more research plebtard.

>>51338982
How much energy does a site like Facebook, Amazon or reddit fucking waste everyday so troons can post transition selfies? What about aws server farms? WE NEED TO CONSERVE SHUT IT ALL FUCKING DOWN

>>51338243
>The more you think about it, The more you realize that BTC is actually garbage.
if you are a brainlet, then yes this is what you think.

>>51338962
same. I used to be brainwashed when I was new. called it boomercoin old tech. the new shitcoins are better!! (this was in 2017 by the way) only when I really researched and learned about PoW did I understand how genius it is. only retards think its a waste of energy.

>>51337873
YOU ARE WASTING ENERGY TO POST ABOUT WASTING ENERGY . SHUT IT DOWN YOU FUCK HEAD

>>51337873
Whats wrong with using lots of energy exactly?

I agree. however, maybe if the economy wasn't so fucked up by the existing legacy monetary system, mining bitcoin wouldn't be such a competitive use of energy. the seethe about market actors behaving rationally is very childish
>>51338962
it would not work without its network effect. but bitcoin was in the right place at very much the right time

>>51338962
What should I read to properly grok this?

>>51337873
AI bot post lmao

>>51339315
>bitcoin was in the right place at very much the right time
Bitch please bitcoin birthed every other shitcoin into existence and is the foundation of all cryptocurrencies

>>51339049
Yeah but I didn't have to rely on a network of number guessing machines using enough energy to power my house for a month and then wait 15 minutes for confirmation just to shitpost these few bytes of data

>>51339395
you should read about the history of cryptocurrency, bitcoin is certainly not the oldest and its breakthrough follows a long sequence of academic inquiry. it was good enough for the time in which it appeared

>>51339452
It was the first crypto to solve the double spending dilema with a public ledger... Everything before was not fit for purpose

>>51338962
Do you have any sources that deboonk the energy fud? Despite my previous post it intuitively makes zero sense to me that I am causing like 33 days worth of power to be wasted every time I send a transaction for 100,000 sats and only paying $0.11 in fees so I'd like to learn

>>51339485
indeed. good implementation in the right place at the right time
>>51339511
what needs to be debunked? it uses energy. many things use energy. that bitcoin's use of energy has been deemed by its detractors inferior to other uses of energy seems entirely arbitrary, to the point of intellectual dishonesty and outright malice

>>51337873
What uses more energy, all the private jets in the world combined or the Bitcoin Network? I really don't know but I bet jews would hate for us to find out.

>>51339612
>the right place at the right time
I don't understand your point. It was pioneering technology - there was no legitimate competition so not exactly a fluke of luck. It was the genesis of functional cryptocurrency, not some hyped shitcoin that started trending..

>>51337873
So? If countries had an all of the above energy policy, nobody would care. There is plenty of harnessable energy all around. Instead we have a bunch of communist degrowth tree humpers running the show.

>>51337873

>>51339698
what I mean is that if bitcoin emerged now, as a new coin, would it be used over a modern PoW chain capable of smart contracts and higher TPS? bitcoin's network effect as the first effective cryptocurrency has allowed it to smooth over its limitations. its initial very solid implementation was perfectly timed off the back of a financial crisis, essentialy gating the concept of cryptocurrency into the minds of not just the public but pioneering young computer scientists who would go on to build next gen systems, many of them funded by the success of bitcoin. bitcoin in effect subsidized all that is being created now. systems that will replace many of its novel functions, if not in its entirety, unless it adapts to impending flaws in its fee model

>>51337873
Yet not nearly a hundredth as disgusting is the realities of fiat.

>>51339792
If it emerged today satoshi would hold half the supply and would constantly be dumping on retail.

>>51338188
7TPS * 60*60*24 = 604800 maximum daily transactions. So less than that unless transactions are taking ever longer to go through without pricing people out.

>>51339792
> if bitcoin emerged now, as a new coin, would it be used over a modern PoW chain capable of smart contracts and higher TPS?

Irrelevant as all modern PoW chains are based on bitcoin. If it emerged now, then you'd also have to assume all other crypto does not yet exist. They only exist BECAUSE of bitcoin. Not right place right time, more like the big bang/ beginning of the universe.

>>51340019
that ignores all of the academic research that made bitcoin possible. it was not created in a vacuum. nor was it perfect then or now. bitcoin's primary success was funding next gen cryptosystems. that is how satoshi won. at this point, it is not relevant whether bitcoin lives or dies, that depends on its community's ability to adapt