I think a lot of crypto discussions inherently go back to one thing: the value of fiat currency is able to be enforced by armed men that the government can send after you. The value of the various cryptocurrencies out there can’t, and because of that, it basically means that the decentralization of crypto is exactly why it won’t be a reserve currency.
I don’t necessary prescribe to that exact take, as that’s a summary of a comment, but I understand why that take exists, and understand why people are so skeptical of crypto.
There is some wisdom there, but leading with "obscene amounts of carbon" outs this guy as a run of the mill reddit pseudo intellectual.
Gold can be valued in non-currency methods, such as miles of gold cabling, pounds of gold plating, and actual gold coins that you can just put in a suitcase and fly around the world.
Hahaha so some dude mentions he shits on bitcoin for being valued in USD but things like gold are also valued in USD. And he responds by saying gold can be valued in other ways, like miles of cable, or pounds of plating...in other words, effectively in mass of gold which then is tied back to currency in the end. This guy is retarded.
He then delves into more legit explanations like immutable values that gold has as an element, but this is the creme of the crop when it comes to the thinkers of reddit. Some decent points littered in with complete and utter retardation.
There is some wisdom there, but leading with "obscene amounts of carbon" outs this guy as a run of the mill reddit pseudo intellectual.
You're mocking him for having a functional understanding of Bitcoin when you do not. "Burning obscene amounts of carbon is bad" isn't a left wing talking point, it's the foundation on which Bitcoin is built. Unlike the gold standard which is backed by holding valuable goods in escrow, proof of work cryptocurrency is backed by destruction. If someone genuinely does not believe the cost of processing a Bitcoin transaction is nearly prohibitive they should not trust Bitcoin, because that cost is supposed to be the thing keeping the ledger secure.
I know how Bitcoin works. Did you think I thought he just conjured a statement about carbon footprint out of nowhere for no reason? The point is that only leftoids and retards use that as an opening salvo to shit on it, because if you wanted to shit on it there are other ways to go about it. He is very much framing it in an "I'm a leftoid that wants to shit on bitcoin" sort of way. The wording gives it away; a normal person would make essentially the same point with different wordings.
I think a lot of crypto discussions inherently go back to one thing: the value of fiat currency is able to be enforced by armed men that the government can send after you. The value of the various cryptocurrencies out there can’t, and because of that, it basically means that the decentralization of crypto is exactly why it won’t be a reserve currency.
I don’t necessary prescribe to that exact take, as that’s a summary of a comment, but I understand why that take exists, and understand why people are so skeptical of crypto.
Until the successful implementation of CBDC, where they'll use armed men to enforce crypto fiat currency.
Archive link: https://archive.is/ZkrTu
every fiat currency is debased without fail each year.
or you can gamble on a crypto.
Guaranteed loss or potential gain - I know which I would rather support.
There is some wisdom there, but leading with "obscene amounts of carbon" outs this guy as a run of the mill reddit pseudo intellectual.
Hahaha so some dude mentions he shits on bitcoin for being valued in USD but things like gold are also valued in USD. And he responds by saying gold can be valued in other ways, like miles of cable, or pounds of plating...in other words, effectively in mass of gold which then is tied back to currency in the end. This guy is retarded.
He then delves into more legit explanations like immutable values that gold has as an element, but this is the creme of the crop when it comes to the thinkers of reddit. Some decent points littered in with complete and utter retardation.
You're mocking him for having a functional understanding of Bitcoin when you do not. "Burning obscene amounts of carbon is bad" isn't a left wing talking point, it's the foundation on which Bitcoin is built. Unlike the gold standard which is backed by holding valuable goods in escrow, proof of work cryptocurrency is backed by destruction. If someone genuinely does not believe the cost of processing a Bitcoin transaction is nearly prohibitive they should not trust Bitcoin, because that cost is supposed to be the thing keeping the ledger secure.
I know how Bitcoin works. Did you think I thought he just conjured a statement about carbon footprint out of nowhere for no reason? The point is that only leftoids and retards use that as an opening salvo to shit on it, because if you wanted to shit on it there are other ways to go about it. He is very much framing it in an "I'm a leftoid that wants to shit on bitcoin" sort of way. The wording gives it away; a normal person would make essentially the same point with different wordings.