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/biz/ - Business & Finance

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49866370 No.49866370 [Reply] [Original]

Crypto is literally backed by energy usage alone.
How this has escaped the majority of bizfags is amazing.
>WAR-ON = cryptocrash.
>WAROFF = cryptogasm

>> No.49866406

>>49866370
crypto is not backed by energy usage

>> No.49866426

>>49866370
its not backed by energy, crypto is just another energy consumer.

>> No.49866429

>>49866406
crypto literally IS energy converted into a digital form

>> No.49866430

>>49866406
this, once spent generating whatever hashes that energy is gone

>> No.49866450

>>49866429
so how do you get the energy back? inb4 sell your crypto for fiat and buy some electricity on the local market

>> No.49866455

>>49866429
How do I convert btc to energy?

>> No.49866463

>>49866406
shitcoins follow bitcoin almost 1:1. bitcoin value is largely based on mining costs. Mining costs are directly and obviously linked to energy cost kwh. This is acutely related to gas price & to lesser extent oil price. lets not get started on opportunity costs of the investment if inputs are being hijacked...

ergo
your a faggot
a poor faggot

>> No.49866476

>>49866370
energy costs LITERALLY eat away at the underlying value of bitcoin

>> No.49866480

Hmmm, what would break first?

- The literal spice melange of the global economy
- Magical internet beans promoted by coke-sniffing hucksters

>> No.49866491

>>49866429
you mean pow crypto aka real crypto or bitcoin.

>> No.49866493

>>49866476
even psychologically people link the two.
The moment the war in Ukraine ends crypto will surge. end of story.

>> No.49866516

>>49866480
>Magical internet beans promoted by coke-sniffing hucksters
historically this wins (((every single time)))

>> No.49866541

>>49866463
>bitcoin value is largely based on mining costs.
no it is not.

>> No.49867168

>>49866370
Shouldn't it work the other way around? Expensive energy = expensive BTC. You need to re-think this.

>> No.49867303
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49867303

crypto is effort communication pings, backed by the computer networks

>> No.49867809

is this the newest cope?

>> No.49868002

>>49867168
absolutely not.
the overhead of the entire crypto system is is a dual between hashing efficieny and current and future energy costs. Crypto currency is still a form of currency which means its value is also based on the future value of money concept.

Imagine if the price of gold mining spiked 30%.

As it is gold is artificially suppressed by limiting its use as currency for the masses. ITs lomg term prospects are tied to this limitation. I reference this only because ENERGY is a limiting factor of the long term prospects of the current crypto setup of exponentially difficult hashing blocks.

/4chan whining about graphic card prices as if this was not a billion dollar industry directly related to energy prices...and the cost of mining.

Crpyto eco-system is only attractive if energy prices are low. If they are high then it is very likely possible to make a larger margin using energy for production of other goods and services.

>> No.49868060

>>49868002
>Imagine if the price of gold mining spiked 30%.
to complete this point -> (and the maintenance of current gold reserves also spiked 30%)

and lets not forget that the WAR is forcing people to chose (households) whether to spend on food and energy (denominated in $) and crypto currencies - a double fuckyou

>> No.49868088

>>49868060
>>49868002
my point stands - this war is the absolute WORST thing for crypto - the moment (puntuated by collapse of oil price) the war is over - crypto will be back to 40k bitcoin

>> No.49868135

>>49868002
>Imagine if the price of gold mining spiked 30%.
bad example - i guess the best analogy is - imagine if USING gold within some form of network economy spiked 30%. energy prices is like a tariff on crypto

>> No.49868206

>>49866370
Very true. I'm investing in energy companies and crypto.

>> No.49869137

>>49868206

just short oil and gas
and buy crypto now at bottomish
as one goes down the other will go up
and then you wont have to eat ze bugz
and you vil be huppy

>> No.49869208

>>49866541
>makes claim
>doesn’t elaborate

>> No.49869533

>>49866455
buy solar panels with it