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51345637 No.51345637 [Reply] [Original]

If money is basically a piece of paper that proves labor. why isn't BTC being used as a sort of "proof of electricity" or something.
I got drunk last night and had this idea for a crypto that's basically a coin that represents energy used, trading the coin basically being trading watts of electricity.
Use case? Idk maybe you could buy computing tasks with it as a sort of "doing xyz running xyz blah blah costs xyz watts or blank tokens"

>> No.51345647

What good is proof of electricity you cant redeem. Put down the bong Sir.

>> No.51345648

>>51345637
Bitcoin (also) is a way to transport cheaply produced electricity without wires. you mine a bitcoin in iceland for $2000. then you "sell" that energy for $20k in europe as bitcoin.

Bitcoin is a lot of things, a truly apex asset. plebs don't understand it. anyone that is against mining didn't do any research or is an IQlet

>> No.51345654

>>51345648
in this way, Bitcoin promotes the creation of new sources of energy, it improves the world

>> No.51346369

Energy isn't stored, transported, or exchanged with cryptocurrencies. It is consumed when generating new tokens. There is no way to get that energy back.
>but you can buy energy with the cryptocurrency
Buying something isn't the same as releasing a stored quality. The energy has to be produced a second time when you sell the token to buy energy.

>> No.51346406

>>51345637
Crypto truely is a solution searching for a problem.

>> No.51346445

>>51345637
The idea already exists
Look into PouR

>> No.51346476

>>51345637
Just because you used energy for something doesn't automatically give it value. Poop is "proof of food eaten", but it doesn't carry the value of the food eaten to produce it.

>> No.51346549

>>51345637
BTC being proof of electricity is Michael Saylor cope

>> No.51346562
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51346562

>>51345637
THERE ARE A MILLION BAJILLION THINGS WE COULD DO OR CHANGE WITH THIS STUFF.

https://www.bitchute.com/video/6VGTTgMZFekK/

>> No.51347174

>>51345648
>you mine a bitcoin in iceland for $2000. then you "sell" that energy for $20k in europe as bitcoin.
retard take

>> No.51347199

>>51346369
Energy not used is lost anyways who gives a fk

>> No.51348187

>>51345637
A piece of paper that says "One Dollar" on it has value because you can go to a bakery and buy a loaf of bread with a few of them. The bakery accepts those pieces of paper as valuable because they can use them to buy flour, pay their employees, pay taxes, or keep as profit. People will accept them in exchange for flour/labour/the owner's new car because they can use them to buy stuff, pay taxes, hire hookers, etc. Money has value because you can spend it, and you can spend it because it has value. ie it's valuable because everyone in the economy agrees it is.
Bitcoin isn't backed by the country's economy in the same way. It's proof of electricity, but some guy could show me a video of him leaving the lights on in his house and that's not going to make me give him money even though it's proof he used up some electricity.

>> No.51348906

>>51346476
>Poop is "proof of food eaten", but it doesn't carry the value of the food eaten to produce it.

This is now my go to analogy to use when telling people that crypto is all a con.

>> No.51348950

>>51345648
how many bitcoins does it take to charge a 12v 100wh battery and what kind of adapter do you need to get them inside the cells?? can i buy one on amazon?

>> No.51348974

>>51345637
>Use case? Idk maybe you could buy computing tasks with it
Literally icp/cycles lol

>> No.51349039

>>51348950
you have to have a 110+ IQ to understand what I'm saying. I know it's difficult for most people

>> No.51349067

>>51349039
i just want an amazon link fren your sass is worthless

>> No.51349069

>>51348187
>Money has value because you can spend it, and you can spend it because it has value.
no, those notes have value because people believe they do.

>> No.51349078

>>51349069
Did you not read the very next sentence?

>> No.51349086

>>51345637
congrats you invented the petrodollar. it already exists
tokenization already exists in many tech industries (usually API calls), for example each call of GPT-3 consumes one token of a centralized currency.

the only time you need a cryptocurrency is when you are using a network or function that is maintained by a decentralized group of people. if something of value can be built on that network then the currency will have value.

computation as a token is probably something like TruBit
hosting as a token is something like ICP

currency itself as a token is bitcoin
small program execution as a token is eth and all its clones

>> No.51349088

>>51349069
>>51348187
when people stop believing the notes have value you get Venezuela

>> No.51349108
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51349108

>>51349078
no i stopped reading there lol. sorry. i can only read so much per day I get tired.

>> No.51349205

>>51349039
>>51349108
Dishonest astroturfer with Dunning-Kruger.

>> No.51349275

>>51345654
Yes, suddenly there's a permanent bounty for the cheapest (see: renewable) energy on planet Earth. It doesn't matter if there's already an electric grid with development around the source. As long as you can keep a connection to a HAM radio or satellite and a single person alive, you can mine bitcoin there.

>> No.51351415

>>51345637
It proves debt, not labor. Read DEBT: THE FIRST 5,000 YEARS.

>> No.51351463

>>51346476
Proof of Poo is number one consensus mechanism in India