/biz/ - Business & Finance

[Anonymous No.28401946]

Bitcoin consumes more electricity than Argentina!!!!

[FUCK CRYPTOCURRENCY No.28402087]

>>28401946
We need to protect the american public from the volatility and danger of the crypto defi ecosystem

>>28401767

[Anonymous No.28402210]

>>28401946
...who cares

[Anonymous No.28402244]

>>28402210
lefties in charge of the us government at the moment

[Anonymous No.28402508]

>>28402244
>lefties
>in charge of the US government

Pick one

[Anonymous No.28402619]

I’m sure most penny stocks use more electricity than Argentina

[Anonymous No.28402664]

>>28401946
>conveniently ignores all the credit card companies and banks

[Anonymous No.28402677]

Most mining is done in remote and abandoned chinese factories with mini hydro power plants built to power the operation. There's very little impact to the world except for fucking the river ecosystems of China.

Also BTC is a centralized shitcoin.

[Anonymous No.28402722]

>>28401946
It’s also worth more than Argentina.

[Anonymous No.28402863]

>>28402210
People in Iran right now who are suffering from energy shortages due to crypto.

[Anonymous No.28402940]

>>28401946
>global financial revolution uses more electricity than a country that places 30th in electricity usage
>waow

[Anonymous No.28403000]

Call me again when it reaches an actual significant amount. That's actually quite low. Google has nearly 4 times their GDP and BTC's cap is below argentina's GDP.

[Anonymous No.28403057]

Very sustainable! Very progressive

[Anonymous No.28403084]

>>28402508
I think I'll pick both you fucking hick

[Anonymous No.28403168]

>>28402863
Good, maybe they’ll start investing in their high solar energy potential to combat it. Win/win.

[Anonymous No.28403251]

>>28403084
Ok. Wake me when it happens, I’d wanna see that.

[Anonymous No.28403418]

>>28403168
>high solar energy potential
solar generates fuck all, mats toxic for the environment, and china makes monetary and geopolitical bank manufacturing.
When will you greenie weenies understand nuclear is the only viable option?

[Anonymous No.28403470]

>>28401946
If we generated our energy primarily with nuclear and hydro, this wouldn't be an issue. Oil and hydrocarbons in general are ridiculously useful, and quite honestly miracle compounds that we should be utilizing more intelligently. The fact we just light them on fire is shameful

[Anonymous No.28403521]

Should be a downvote button, instead of report.

[Anonymous No.28403545]

>>28401946
Great! That makes Bitcoin so secure that all the electricity in Argentina isn't enough to break it

[Anonymous No.28403614]

>>28403251
>I don't think they're leftist therefore they aren't
>No true Scotsman!!
slit your wrists

[Anonymous No.28403636]

>>28403251
You’re literally living it right now, dumbass.

[Anonymous No.28403722]

>>28401946
Who cares we have fusion power soon

[Anonymous No.28403985]

>>28403251
you a stupid eurocuck if you don't see it.

t.european aswell but not stupid

[Anonymous No.28404043]

>>28403722
always 18 months away, just like functional Lightning Network

[Anonymous No.28404677]

>>28403470
>Oil and hydrocarbons in general are ridiculously useful, and quite honestly miracle compounds that we should be utilizing more intelligently. The fact we just light them on fire is shameful
this anon is big-brained

[Anonymous No.28404902]

>>28403418
Everyone knows nuclear is the only way up.

But everyone fears nuclear energy.

[Anonymous No.28404986]

Argentina isn't even white so who cares

[Anonymous No.28405139]

>>28402677
All coins are suffering from the centralization problem. The Blockchains are getting too fat for any old average joe to realistically host a node.

[Anonymous No.28405406]

>>28401946
Hey y’all, I don’t know if you guys know anything about supply and demand, so let me explain:

Demand goes up, supply stays the same = prices increase

Bitcoin sucking up all this energy has created a shit ton of extra demand for electricity, which drives prices up. Unless you’re invested in BTC this fucks you over (and in the long run if there’s a market correction people with BTC will be fucked over too). When you combine the fact that Bitcoin’s IRL utility is highly highly questionable what you’ve got is a commodity with negative externalities that waaaaay outweigh the benefits. You may be profiting at an individual level from BTC (for now) but BTC is a net loss for our society. Sociopaths won’t give a shit as long as they get their money, but the rest of the world is catching on to this bullshit and heavy handed regulations are just around the corner.

This doesn’t even begin to address the issue of climate change which is another massive massive negative externality.

Tldr- BTC increases energy prices and contributes to climate change while contributing no value to our society, regulations are around the corner to fix this massive market failure

[Anonymous No.28405561]

>>28403418
USA should invest heavily in solar research and development before China dominates the market so hard we don’t stand a chance. Nuclear is extremely capital intensive and not very easy to implement so solar will inevitably play an important role. No need to lay back and let China make all the profits, US needs to step their solar game up ASAP

[Anonymous No.28405787]

This is why Nano will moon again

[Anonymous No.28405912]

>>28401946
Tell China to stop mining BTC

Oh you're not? You're just going to raise Power costs for your Citizens due to Climate Change.

[Anonymous No.28405933]

>>28405406
The US uses one fifth of the worlds energy. Half of that is used by the US military. So keeping the the dollar as a reserve currency is incredibly energy inefficient.

[Anonymous No.28405984]

>>28404986
I'm not going to allow you to say this, pajeets

[Anonymous No.28406046]

>>28402863
Source?

[Anonymous No.28406072]

>>28405406
>This doesn’t even begin to address the issue of climate change
Climate change isn't a fucking issue. The sun is the primary driver of climate on the planet.

>>28405561
>not very easy to implement
?
>before China dominates the market so hard
we could invest "heavily" and China would still profit because we offshore ALL manufacturing to them. Then they'd have our balls in a vice-grip just like happened with covid and med supplies.

[Anonymous No.28406106]

>>28403470
Based.

[Anonymous No.28406171]

>>28406046

[Anonymous No.28406180]

>>28405406
You need to go back

[Anonymous No.28406268]

>>28405933
I don’t follow your logic. The US using a lot of energy doesn’t mean the dollar is inherently energy inefficient, seems like a non sequitor to me. It’s entirely possible for the US to transition to more efficient energy sources while maintaining usage of the dollar, and likewise it’s also entirely possible for BTC to take over while the US continues to use energy inefficiently

[Anonymous No.28406362]

>>28402210
The same people trying to crack down on crypto because it's not inclusive for women and blacks

[Anonymous No.28406433]

>>28402722
based and checked

[Anonymous No.28406666]

>>28406072
Just because China manufactures doesn’t mean they profit at our expense. Many US companies offshore manufacturing to Chinese labor because their labor costs are so cheap but US profits on net (Apple for example). Your logic of profit is stuck in the 1700’s. USA needs to innovate new solar technology to compete in the market, offshoring manufacturing is virtually irrelevant, what’s important is that we’re the ones selling the solar tech around the world and not China. Also climate change is a real concern but if you don’t understand basic economics while on /biz/ some reason I highly doubt you’d be able to grasp climate science

[Anonymous No.28406689]

If your dad is a shoemaker, invest in cans

[Anonymous No.28407078]

>>28402664
>the crypto economy is just as important as credit cards and banks

[Anonymous No.28407107]

>>28406072
>Climate change isn't a fucking issue.
Those massive hurricanes that hit the west cost and fuck the climate for everyone else in the other side of the Atlantantic would tell you otherwise.

But I subscribe that this is only par for the course, for progression to be made old societies need to fall down.

[Anonymous No.28407335]

>>28403084
lmao holy shit. go back to plebbit you fucking retard.

[Anonymous No.28407712]

god i hope they ban bitcoin so these niggers start pumping my linkies

[Anonymous No.28407904]

>>28404677
>basic chemistry

[Anonymous No.28408025]

>>28406666
>Just because China manufactures doesn’t mean they profit at our expense
Yes, by definition they do. However, profit isn't even the issue, it's why I brought up med supplies. If you don't understand how having our #1 geopolitical adversary entirely control the manufacturing and distribution of what you'd have be the primary energy infrastructure of our country, which of course powers literally every activity, especially digital, we'd perform, I don't know what to tell you.

>we’re the ones selling the solar tech
China will just steal the solar tech like everything else we invent, and we'll do NOTHING about it.

You continue to operate under the assumption that there is only the concern of the market to think about with energy. China is our enemy, they seek to undermine us. Blueprints do not produce energy, only the actual product does. If we do not have sovereignty over the product which is predicated on the manufacturing thereof, we are at a strategical disadvantage. This is basic.

Not to mention any cent we waste on solar tech, which won't be worth a shit for another 100 years, puts us at a disadvantage. And if we're at an increasing disadvantage while the rest of the world eats our lunch, we won't exist long enough to see the fruits of our long-term labor.

Solar should be pursued, put to dump everything into it right now is jumping the gun, pants on head retarded and it will destroy us. We're only just now really starting to get into exponential returns from industry and tech, and you'd hamstring us because of your climate cult.

>Your logic of profit is stuck in the 1700’s
>old bad new good

>I highly doubt you’d be able to grasp climate science
the science agrees with me, see: Freeman Dyson. Go fuck yourself plebbit

[Anonymous No.28408490]

>>28407107
There is little reason to believe CO2 emissions are solely or even largely responsible, aside from the fact that the U.S. is not one of the world's main polluters meaning our actions do little to solve the problem even if it were a fact, not to mention who cares? As you understand, change is the only constant in life. Any house torn down is new opportunity for construction. Where there is death, there is life anew.

Hysterical cultists simply cannot into arbitrage. If the ice melts from underneath a polar bear, it won't die, it'll just go somewhere else. Nature, Life is smart, complex, amoral, and always adapts.

[Anonymous No.28408697]

>>28401946
And that’s a good thing

[Anonymous No.28408982]

>>28401946
As far as I'm concerned Argentina doesn't exist.
>Have you ever been to Argentina?
I haven't.
>Have you ever met someone from Argentina?
I haven't.
>Have you ever consumed a product from Argentina?
I haven't.

I think "Argentina" is really just a meme created by the globohomo jews to FUD bitcoin.

[Anonymous No.28409093]

>>28403614
Imagine thinking that there's a left wing in America lmao

[Anonymous No.28409478]

>>28408982
return to reddit unfunny ass nigger

[Anonymous No.28409572]

>>28409093
There's not a "real" leftwing anywhere because it's a shitty, inhuman, adolescent ideological grouping. The closest thing are communist hellholes which always morph into authoritarianism because surprise, surprise: mandating equality necessitates violent and/or psychological coercion.

If you point me to Scandinavia I'll tell you (1) you're wrong, (2) they're successful because they are white, which is meaningful insofar as it is a statement about IQ distribution

[Anonymous No.28410058]

>>28403614
That’s not how no true Scotsman works, you dumb nigger lmao

[Anonymous No.28410698]

>>28409572
Moldova is probably whiter than Sandinavia and it's a shithole

[Anonymous No.28411268]

>>28410698
and the IQ is what?

[Anonymous No.28411276]

>>28406666
wasted quads what a shame
btc drives the demand for green energy you dunce

[Anonymous No.28411453]

And that's good for Bitcoin.

[Anonymous No.28411514]

>>28401946
The way bitcoin works is retarded desu

[Anonymous No.28411540]

>>28404986
Back to /pol/ nigger.

[Anonymous No.28411607]

>>28408982
sitcom humor nigger

[Anonymous No.28411613]

>>28404986

[Anonymous No.28411624]

>>28410698
well he meant nordic.

[Anonymous No.28411686]

>>28407078
its not, its a billion times MORE important you retard, get with the times

[Anonymous No.28411751]

>>28401946
Harmonychain is developing new computer chips for mining and transactions of dogecoin, then litecoin, then bitcoin. It will decrease power consumption by 500-600%. Dogecoin is the first on the list for specialized chips, it's going to be the "green" crypto.

[Anonymous No.28412188]

>>28401946
How much energy is consumed in traditional financial sectors like banking and the stock market? Only reason people bitch about bitcoin's electricity usage is because it's the most direct and obvious conversion.

[Anonymous No.28412580]

People forget that Argentina is a 3rd world country with 30 years old infrastructure. No wonder their energy consumption is low, they can't output more because their own supply is dogshit.

[Anonymous No.28412843]

>>28411686
If all the bitcoin miners went offline tomorrow, what would be the implications? A few nouveau riche autists would have to sell their Roadsters to make rent?

[Anonymous No.28413478]

>>28401946
WAIT, so you're saying if we make mining farms off sustainable energy, we would since bout only the energy crisis, but the economic landscape of the ENTIRE WORLD?

YOU'RE A GENIUS ANON!

I was skeptical about crypto at first, but this news is a GAME CHANGER.

WE'RE ALL GONNA MAKE IT!!

[Anonymous No.28413619]

>>28401946
YouTube consumes more electricity than South Africa but they’re not gonna stop using that are they.

[Anonymous No.28413717]

>>28411540
>>28411613
t. Seething Argies

[Anonymous No.28413779]

>>28413619
>ouTube consumes more electricity than South Africa but they’re not gonna stop using that are they.
sauce me up anon
n-no homo

[Anonymous No.28413839]

>>28402210
Based

[Anonymous No.28414032]

https://casebitcoin.com/critiques

/thread now fuck off

[Anonymous No.28414263]

>>28402940
>financial revolution

[Anonymous No.28414785]

>>28401946
This is why LTC is either undervalued or BTC is hugely overvalued. LTC is bigger, faster and stronger then BTC. LTC does everything BTC does and they use the same wallet. LTC has half a penny transaction fees....... BTC has $20 fees. LTC miners are way more efficient. LTC has a total cap of 84 mil vs 21 mil on BTC. LTC price is ~200 x 4 = $800, BTC = ~50K. Litecoin is better in every way yet people are so stupid that they hear bitcoin and start sucking dick to hold.

[Anonymous No.28415186]

>>28414785
If you let LTC grow, it would end up exactly the same. You need to fix the root cause and adopt real tech like PoS chains.

[Anonymous No.28416046]

>>28401946
bitcoin maxis will talk about decentralization when bitcoins PoW is designed to become more and more centralized over the years. Enjoy your 2 mega-mining-corps with patented hardware positioned in shithole countries where electricity is cheap controlling your unmoving coin for all eternity.

[Anonymous No.28416328]

>>28415186
uh what, LTC fees are fixed at half a penny. Doesn't matter if it cost 100K per coin or $200, still half a penny. LTC was set up to be a currency and they capped the fees for that reason. Anyone using BTC as a currency is tarded.

[Anonymous No.28416370]

>>28411540
That’s an /int/ meme, you doublenigger

[Anonymous No.28416532]

>>28401946
His true though. This actual legit FUD. Why coins like Iota or Hbar will win in the end

[Anonymous No.28416885]

im curious what the runner up to crypto mining is for total energy consumption.

[Anonymous No.28417068]

>>28416328
Yes, fixed are fixed but think about what would happen if ltc were required to scale. Transactions would become as slow as many days of waiting.

[Anonymous No.28417275]

>>28416532
HBAR? retarded attempt by kikes to regain control. ADA is POS. ETH is moving to POS. this solves it

[Anonymous No.28417441]

>>28403251
Why do leftcucks get so defensive about other lefties not being as radical as them? Yes so they aren't quite as homosexual and degenerate as you are, just give them a few years.

[Anonymous No.28418204]

Can someone tell me how much electricity is used to watch marvel movies?

[Anonymous No.28418205]

>>28409572
>There's not a "real" leftwing anywhere because it's a shitty, inhuman, adolescent ideological grouping.

This anon is based.

[Anonymous No.28418353]

>>28416885
probably ether

[Anonymous No.28418503]

>>28418353
what would the first non crypto related use be?

[Anonymous No.28418507]

if so, I vote for turning off Argentina and itll be even

[Anonymous No.28418629]

>>28401946
bullish for XRP. The NWO will not allow this to continue, the future is green and you WILL eat the bugs

[Anonymous No.28418793]

>>28409572

[Anonymous No.28419107]

>>28418793
but you're already have strong welfare.. turns out it only works in homogenous countries

[Anonymous No.28419170]

>>28407107
>I was born in the rain on the Pontchartrain
>Underneath the Louisiana moon
>I don't mind the strain of a hurricane
>They come around every June
>The high black water, a devil's daughter
>She's hard, she's cold and she's mean
>But nobody taught her, it takes a lot of water
>To wash away New Orleans
>Man came down from Chicago
>He gonna set that levee right
>He says, "it needs to be at least three feet higher, It won't make it through the night"
>But the old man down in the quarter
>He said "don't you listen to that boy
>The water be down by the morning and he'll be back to Illinois"
Non southerners need to FUCK OFF! You obviously don’t know shit about hurricanes you giant yankee faggit.

[Anonymous No.28419410]

>>28401946
stop the 3rd world shitholes from consuming electricity then, sinple

[Anonymous No.28419569]

>>28401946
desu here every industry and factory is dying at record breaking times so it doesnt surprise me.

[Anonymous No.28420060]

>>28418793
Welfare policies would work OK but you'd need a healthy, homogenous, high-trust, high-IQ society.

No programs will ever work in America because the numbers simply don't add up for any kind of social program—healthcare, welfare, education, whatever—when you're obese and high risk for disease, black and dumb, black and unwilling to work because muh slavery is always in the back of your mind yelling exploitation, allowing people who don't pay in to varying degrees to migrate to your country, et cetera.

[Anonymous No.28420414]

>>28417441
Liberalism is a right wing ideology. It's not my fault you're a retard.

[Anonymous No.28420504]

>>28404043
>Lightning Network
You can already use the Lightning Network you fucking mong

[Anonymous No.28420877]

>>28419170
based reply to hysteric FUD

[Anonymous No.28420942]

>>28420414
It’s neither left or right

[Anonymous No.28421069]

>>28406171
kek

[Anonymous No.28421221]

>>28418793
when our social programs invite and pay the world to come to Burgerstan, paid for by the existing taxpayers... the very definition of a ponzi scheme

[Anonymous No.28421451]

>>28420414
You all vote for the same political parties, live in the same areas, have identical materialist worldviews and believe the same things on virtually every issue. Leftcucks are in an eternal state of denial

[Anonymous No.28421608]

>>28413717
I'm not argie, /pol/tard.

>>28416370
Then go back to /int/, triplenigger.

[Anonymous No.28421783]

>>28404902
nuclearfearmonger >>28404902

[Anonymous No.28421935]

>>28405406
Fucking redditor

[Anonymous No.28421965]

>>28405406
Mining will do the same thing to the energy industry that it did to computer hardware development. If mining is profitable, and energy is expensive/dirty, people will rush to develop cheap/clean energy. Go back

[Anonymous No.28422000]

>>28406689
>dj toluene
kek

[Anonymous No.28422465]

>>28401946
WTF I hate bitcoin now.

t. Argentinian