President Trump : "Bitcoin is a scam."
(archive.is)
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (59)
sorted by:
Stop being told how thing work! educate yourself.
Bitcoin is great and it is not outdated by any standards , bitcoins value is from work /energy.
These smarter new coins which are supposed to be better, think they can take the "WORK" bit out. i guess they will make it work this time
I thought it was simply more energy intensive than the other coins? That's why Muskrat dumped it at least, iirc.
Granted his comparison was pretty silly, he said Bitcoin production is equivalent to Sweden's energy consumption, which might sound scary until you realize Sweden is like 0.10% of the world's population. Still a lot but it's not like it's gonna be melting the ice caps or nothing.
The fact that it's energy intensive is a good thing because it imbues it with natural value. You can look at the creation of a bitcoin as using literal energy to power math and the sum of those two things can equal a bitcoin.
Work or Energy is what makes it work , it actually is a real cost ( as in energy ) to produce or transact , without the energy cost , who makes its value? the "national bitcoin bank". this is why capitalism works. just investigate man
edit: sry, that was abit snarky. this is a good start for how bitcoin works: youtube.com/watch?v=bBC-nXj3Ng4