This is what I predict will happen, and I think an unspoken law of evolution will force this synthesis to take place.
America will get paper fiat crypto, printed out on bills with the POTUS face still, and managed by the treasury/federal reserve.
I'm sorry but running out of battery on your smartphone should not be a barrier to making a purchase. And people don't want to be microchipped. You need paper fiat.
I also think this is why they're pushing digital ID, so you don't need to carry money, and your balance can be "in the system". This would be credit 2.0, I'm not sure America will line up for that.
OP analysis is wrong, bitcoin will take the amount of power equivalent to the value of the trade - NOT the value traded. Any comparison should be to the transaction cost for the industry, but most of that is 'bank tax' and not actual value.
Each block mined today yields about $300k worth of bitcoin and THAT is what is driving the energy use. It pays for a lot of electricity and mining cards. But bitcoins per block drop off over time and in 10 or at most 20 years nobody will be mining to get the new bitcoin, they'll mine only as much as people will pay for transactions.
When you successfully "mine" a block you include transactions in it and people will pay you for that - but not much. Are you going to pay $5 to transfer your $10 of bitcoin to somebody else? Nope.
The amount of energy used is arbitrarily determined by the demand for being a miner and that's currently dominated by the ~$300k value inherent to each block, which halves every few years of mining.
Less value in a block, less mining, less energy used. It's built into the bitcoin protocol to reduce power use over time.
Guy is an israeli shill. He's not here in good faith. He wants to justify murdering journalists because they speak out against israel and the children they rape/murder
Proof of anything is impacted by 51% of the network being controlled by one group. It's not different from the dollar in this respect.
Lots of power being used to make Monopoly money. Those computers have doing something to draw that much energy. What worries me is what that thing is.
This is what I predict will happen, and I think an unspoken law of evolution will force this synthesis to take place.
America will get paper fiat crypto, printed out on bills with the POTUS face still, and managed by the treasury/federal reserve.
I'm sorry but running out of battery on your smartphone should not be a barrier to making a purchase. And people don't want to be microchipped. You need paper fiat.
I also think this is why they're pushing digital ID, so you don't need to carry money, and your balance can be "in the system". This would be credit 2.0, I'm not sure America will line up for that.
They lined up for a flu scare fake election vaccine nafta and decades of bullshit wars they will line up for this
The main problem with Crypto, and the main difference between crypto and gold, is that another crypto can just be created.
Yeah, there might be only 21 million Bitcoins, but what about the new coins that are getting made up every day. There are literally 10,000 of them.
Bitcoin is only around because people could get it for free and there is really nothing to spend it on besides other speculative cryptos.
OP analysis is wrong, bitcoin will take the amount of power equivalent to the value of the trade - NOT the value traded. Any comparison should be to the transaction cost for the industry, but most of that is 'bank tax' and not actual value.
Each block mined today yields about $300k worth of bitcoin and THAT is what is driving the energy use. It pays for a lot of electricity and mining cards. But bitcoins per block drop off over time and in 10 or at most 20 years nobody will be mining to get the new bitcoin, they'll mine only as much as people will pay for transactions.
When you successfully "mine" a block you include transactions in it and people will pay you for that - but not much. Are you going to pay $5 to transfer your $10 of bitcoin to somebody else? Nope.
Try learning how bitcoin works.
The amount of energy used is arbitrarily determined by the demand for being a miner and that's currently dominated by the ~$300k value inherent to each block, which halves every few years of mining.
Less value in a block, less mining, less energy used. It's built into the bitcoin protocol to reduce power use over time.
Guy is an israeli shill. He's not here in good faith. He wants to justify murdering journalists because they speak out against israel and the children they rape/murder