That is incredible, lmao.
Most mining companies locate their operations where the cost of energy is cheapest. These locations tend to be in areas where there's a lot of unused/stranded energy. I recall how a Houston Chronicle article about how, at least, a quarter of electricity goes to waste, due to insufficient infrastructure or the distance between energy producers and the nearest servicing town/city.What a collossal waste of resources that way of living is. If everyone lived like that, the planet would be done right now.
By some I think millions and millions.
Most are not in fact "crypto bros" people laugh at on Twitter, but ordinary working people who want to invest - many times in both stocks and crypto and are fucked with both asset classes in this crap economy.
Crypto bro money is not enough for naming a stadium, that all comes from retail market for years now.
I'm not buying this false equivalence that the turbulence we're seeing in stocks, which unless you have a relatively short time horizon or are day trading/dealing in options doesn't actually matter, is the same an entire subsect of equities spiralling downward because they have been increasingly found to have nothing substantively quantitative behind them besides tweets and hot air.
This is the equivalent of looking at Wirecard and coming to the conclusion that Visa and Mastercard are equally bad investments with similarly nonexistent financials.
You're talking about 99% of crypto out there, but you're not talking about bitcoin. With bitcoin itself and how it was created, there is no organization, corporation, CEO, foundation, VC's (unless you're talking about layer-2 junk like Stacks, which is attempting to bring all of the shitcoin casino garbage onto bitcoin), marketing budget.
As for what can you buy with bitcoin: https://www.bitrefill.com/buy
^ Buy gift cards for Amazon, Steam, Game Stop, Nintendo eShop, Twitch, Delta Airlines, Whole Foods, Sam's Club, AirBnB, Uber/UberEats, DoorDash, Instacart, etc. You can also buy your bills.
Joltfun - Bitcoin/Lightning Game Shop
Buy games with Bitcoin/Lightning for Steam, Battle.net, Bethesda, Epic Store, Origin, GOG.com, Playstation, Rockstar, Nintendo Switch & Xbox.joltfun.com
^ Buy games from Steam, Epic Games, GOG, PSN, Xbox Live, Nintendo eShop
You can make payments over the lightning network so that the transaction cost is a few cents at most compared to straight up making a bitcoin transaction.
^ Oshi app will show you what local businesses in your area accept bitcoin payments.
Bitcoin was created explicitly to be a parallel, p2p monetary system. There are people who are attempting to live on the "bitcoin standard", like BTC Sessions. He says there's only a few instances where he needs to use fiat, because a bitcoin payment option isn't available for whatever it he's trying to do:
Btw, y'all, I learned about JoltFun from this Stacker News. Stacker News is kind of like Y Combinator's Hacker News, but centered on bitcoin related developments.
25% of energy produced do not go to waste, I can guarantee you that lol. Even a 10% curtailment on renewable projects make people uneasyMost mining companies locate their operations where the cost of energy is cheapest. These locations tend to be in areas where there's a lot of unused/stranded energy. I recall how a Houston Chronicle article about how, at least, a quarter of electricity goes to waste, due to insufficient infrastructure or the distance between energy producers and the nearest servicing town/city.
Oh, look, there's that "you will own nothing and you will be happy" bogeyman I keeping seeing from the right.
It's possible I'm also misinterpreting what that poster is saying as well, because my read of that post was that they were equating investing in GOOG in this current market climate as being the same as investing in an altcoin.Of course its a ton of retail investors that are the ones usually buying the tops of bullmarkets; and no the average retail investor probably doesn't fit into the 'crypto bro' archetype. Probably just randoms who saw a celebrity buy an NFT, saw Elon talk about it in 40000 tweets, and had a cousin crowing about their portfolio, then found an app and bought some. The turbulence you see in the worldwide markets absolutely have an effect on speculative assets like crypto. Even investing in crypto typically takes fiat, that alone will link it to the greater markets to some degree. Inflation and recessions hit everyone, even those investing in speculative assets. When shit hits the fan, will they sell GOOG or DANK420COIN?
The idea that weirdo libertarian 'crypto bros' are the only ones pumping money into crypto should have really died a long time ago. Its pretty clear thats not true, and that retail investor or 'tourists' make up a large part of the boom cycles that crypto has seen the last 13 or so years. Maybe I am misunderstanding what you are saying, I dunno.
You're talking about 99% of crypto out there, but you're not talking about bitcoin. With bitcoin itself and how it was created, there is no organization, corporation, CEO, foundation, VC's (unless you're talking about layer-2 junk like Stacks, which is attempting to bring all of the shitcoin casino garbage onto bitcoin), marketing budget.
As for what can you buy with bitcoin: https://www.bitrefill.com/buy
^ Buy gift cards for Amazon, Steam, Game Stop, Nintendo eShop, Twitch, Delta Airlines, Whole Foods, Sam's Club, AirBnB, Uber/UberEats, DoorDash, Instacart, etc. You can also buy your bills.
Joltfun - Bitcoin/Lightning Game Shop
Buy games with Bitcoin/Lightning for Steam, Battle.net, Bethesda, Epic Store, Origin, GOG.com, Playstation, Rockstar, Nintendo Switch & Xbox.joltfun.com
^ Buy games from Steam, Epic Games, GOG, PSN, Xbox Live, Nintendo eShop
You can make payments over the lightning network so that the transaction cost is a few cents at most compared to straight up making a bitcoin transaction.
^ Oshi app will show you what local businesses in your area accept bitcoin payments.
Bitcoin was created explicitly to be a parallel, p2p monetary system. There are people who are attempting to live on the "bitcoin standard", like BTC Sessions. He says there's only a few instances where he needs to use fiat, because a bitcoin payment option isn't available for whatever it he's trying to do:
Btw, y'all, I learned about JoltFun from this Stacker News. Stacker News is kind of like Y Combinator's Hacker News, but centered on bitcoin related developments.
If you buy into the argument that endless money printing from central banks leads to inflation/currency debasement, the erosion of your wealth, the boom/bust cycles we experience, and is how military adventurism/wars are financed, you might be inclined to want to opt out of this system. Bitcoin was literally created in response to the 2008 recession. As for bitcoin's volatility, at less than 2% global adoption, price volatility when priced in fiat is to be expected. However, 1 bitcoin equals 1 bitcoin. That doesn't change.
If you buy into the argument that endless money printing from central banks leads to inflation/currency debasement, the erosion of your wealth, the boom/bust cycles we experience, and is how military adventurism/wars are financed, you might be inclined to want to opt out of this system. Bitcoin was literally created in response to the 2008 recession. As for bitcoin's volatility, at less than 2% global adoption, price volatility when priced in fiat is to be expected. However, 1 bitcoin equals 1 bitcoin. That doesn't change.
And 1 dollar equal 1 dollar. That doesn't change.If you buy into the argument that endless money printing from central banks leads to inflation/currency debasement, the erosion of your wealth, the boom/bust cycles we experience, and is how military adventurism/wars are financed, you might be inclined to want to opt out of this system. Bitcoin was literally created in response to the 2008 recession. As for bitcoin's volatility, at less than 2% global adoption, price volatility when priced in fiat is to be expected. However, 1 bitcoin equals 1 bitcoin. That doesn't change.
If you buy into the argument that endless money printing from central banks leads to inflation/currency debasement, the erosion of your wealth, the boom/bust cycles we experience, and is how military adventurism/wars are financed, you might be inclined to want to opt out of this system. Bitcoin was literally created in response to the 2008 recession. As for bitcoin's volatility, at less than 2% global adoption, price volatility when priced in fiat is to be expected. However, 1 bitcoin equals 1 bitcoin. That doesn't change.
Revelling in the misery of crypto+nft bros is one of lifes greatest pleasures
(Hyper)Inflation from central bank money printing manipulates the value of fiat currencies the world over all the time. Zimbabwe, Argentina, Turkey, Venezuela, Sri Lanka. Bitcoin has a fixed supply of 21 million. More cannot be created.And 1 dollar equal 1 dollar. That doesn't change.
Bitcoin is a more stupid gold standard. Gold Standard still had all of those problems you think "endless money printing" causes.
And hyper inflation tends to be counted with less frequency than ever (and can still happen without moeny printers!).(Hyper)Inflation from central bank money printing manipulates the value of fiat currencies the world over all the time. Zimbabwe, Argentina, Turkey, Venezuela, Sri Lanka. Bitcoin has a fixed supply of 21 million. More cannot be created.
ButWhy.gif?
Don't we already have a way of buying all those things? Is it just so you don't pay taxes? For people who hate public roads and hospitals?
(Hyper)Inflation from central bank money printing manipulates the value of fiat currencies the world over all the time. Zimbabwe, Argentina, Turkey, Venezuela, Sri Lanka. Bitcoin has a fixed supply of 21 million. More cannot be created.
I'm trying to imagine how the economy would look if there were only 5 trillion dollars in the entire world and no more could ever be created.
(Hyper)Inflation from central bank money printing manipulates the value of fiat currencies the world over all the time. Zimbabwe, Argentina, Turkey, Venezuela, Sri Lanka. Bitcoin has a fixed supply of 21 million. More cannot be created.
And why would you buy them with a highly deflationary 'currency' anyway? Buying gift cards with internet funny money is a ruse to try to add an air of legitimacy to a purely speculative instrument. I can just go buy gift cards with real money and not have to pay tens - or hundreds - of dollars in transaction fees or gas to do it, so why would anyone want to dump their money into an unregulated casino just to buy an Amazon gift card?
It's not surprising that bitcoin/crypto is most popular with countries with developing economies or experiencing hyper inflation compared to N. America and Europe. There's a greater practical need. Buying gift cards for AirBnB or video games is "first world problems" shit. Transmitting value (that cannot be confiscated) with no middleman at low cost, however, is not.And why would you buy them with a highly deflationary 'currency' anyway? Buying gift cards with internet funny money is a ruse to try to add an air of legitimacy to a purely speculative instrument. I can just go buy gift cards with real money and not have to pay tens - or hundreds - of dollars in transaction fees or gas to do it, so why would anyone want to dump their money into an unregulated casino just to buy an Amazon gift card?
I think crypto is going to have a hard time hiring in the future
I can't see how people wouldn't hoard money unless they were forced not to. How would debt work? Seems like a disaster.I'm trying to imagine how the economy would look if there were only 5 trillion dollars in the entire world and no more could ever be created.
Ah yes, another repetition of the common Cryptobro's justification for the morbidly extreme waste of resources that all of Crypto is - no matter where it's mined. There are no green cryptocurrencies. But go ahead, continue lying to yourself to make yourself feel better.Most mining companies locate their operations where the cost of energy is cheapest. These locations tend to be in areas where there's a lot of unused/stranded energy. I recall how a Houston Chronicle article about how, at least, a quarter of electricity goes to waste, due to insufficient infrastructure or the distance between energy producers and the nearest servicing town/city.
But that's the point, this ISN'T decentralised, Celsius was a centralised exchange. A decentralized exchange wouldn't have this issue and couldn't prevent people from withdrawing their funds (but it of course has many other possible issues, like smart contract risk etc). So this is one of the arguments against centralised exchanges ("not your keys, not your crypto"), but there is just risk on all points really.
Bitcoin is only taken as a form of payment by most of those because it is tied to some dollar value. It's utility is tied directly to fiat currency.If you buy into the argument that endless money printing from central banks leads to inflation/currency debasement, the erosion of your wealth, the boom/bust cycles we experience, and is how military adventurism/wars are financed, you might be inclined to want to opt out of this system. Bitcoin was literally created in response to the 2008 recession. As for bitcoin's volatility, at less than 2% global adoption, price volatility when priced in fiat is to be expected. However, 1 bitcoin equals 1 bitcoin. That doesn't change.
Crazy we still have cryptobros here.If you buy into the argument that endless money printing from central banks leads to inflation/currency debasement, the erosion of your wealth, the boom/bust cycles we experience, and is how military adventurism/wars are financed, you might be inclined to want to opt out of this system. Bitcoin was literally created in response to the 2008 recession. As for bitcoin's volatility, at less than 2% global adoption, price volatility when priced in fiat is to be expected. However, 1 bitcoin equals 1 bitcoin. That doesn't change.
It's not surprising that bitcoin/crypto is most popular with countries with developing economies or experiencing hyper inflation compared to N. America and Europe. There's a greater practical need. Buying gift cards for AirBnB or video games is "first world problems" shit. Transmitting value (that cannot be confiscated) with no middleman at low cost, however, is not.
But anyway, should be interesting to see how bitcoin shakes out 5-20yrs from now.
Like most people, I come to ResetEra to read about/discuss most other topics.
Politeness isn't a factor I really consider when you're pushing climate destroying ponzi schemes.They sound like a true believer. They've been polite and coherent so don't really see a problem.
Politeness isn't a factor I really consider when you're pushing climate destroying ponzi schemes.
If you have your stuff on a centralized exchange like Coinbase where they have your keys, then, yeah, it can be seized. If you're a using a wallet from a centralized provider like Metamask (which is owned by the parent company, ConsenSys; JP Morgan supposedly has a sizeable stake in MetaMask, and another ConsenSys product, Infura), then you can be blocked from using it. Example:Bitcoin and other crypto currencies can't be confiscated?
FBI seized roughly $2.3 million in cryptocurrency tied to ransomware attacks | CNN Politics
US law enforcement officials in August seized roughly $2.3 million in cryptocurrency tied to ransomware attacks committed by a Russian resident, according to a court document unsealed Tuesday.www.cnn.com
Most mining companies locate their operations where the cost of energy is cheapest. These locations tend to be in areas where there's a lot of unused/stranded energy. I recall how a Houston Chronicle article about how, at least, a quarter of electricity goes to waste, due to insufficient infrastructure or the distance between energy producers and the nearest servicing town/city.
A friend of mine said this is all telegraphed and how everyone was expecting an 80% dip in four years (or maybe it was every four years) and there's no reason to panic or sell.
Yeah...
I mean I know absolute jack about crypto and they are in deep so they are more knowledgeable than me. Who's to say it won't bounce back, but I guess time will tell if they are right.Yeah, have a friend who's been totally fooled as well. Went from "it's part of the cycle" to "it will be back within the decade" and now "it's ok to lose money on something so important". Smdh
Yeah, have a friend who's been totally fooled as well. Went from "it's part of the cycle" to "it will be back within the decade" and now "it's ok to lose money on something so important". Smdh
Ah, so that's why your friend knew when to sell at the peak right?A friend of mine said this is all telegraphed and how everyone was expecting an 80% dip in four years (or maybe it was every four years) and there's no reason to panic or sell.
Yeah...
They are in for the long haul, they just bought three more ETH recently.Ah, so that's why your friend knew when to sell at the peak right?
...right...??
Man, we're getting close to "the real crypto was the friends we made along the way" excuse.
Man, we're getting close to "the real crypto was the friends we made along the way" excuse.
What's the advantage of paying with Bitcoin compared to credit cards?
Bitcoin has several advantages compared to credit cards:
It's for everyone: everyone can use a Bitcoin wallet. You do not need to worry about your bank randomly freezing payments or closing accounts just because the bank bosses don't like you.
It protects your purchasing power: this is more of a long-term thing. But since Bitcoin is sound-money, as time goes by, you can get more bang for your sats.
As an example: when we launched, the price for an average newly released popular game was about 800,000 sats, now it's around 100,000 sats (87% off!).
Over time...
... with credit cards based on central bank money, everything tends to become more expensive.
... with Bitcoin, everything tends to become cheaper.
Well, you can check the hilarious FAQ on one of those sites. It has gems like:
Aren'y you tired of banks randomly deciding to close your account for no reason? Those pesky bosses!
I swear these people wants you to think the tree of gold coins from Pinocchio is real.