I’ve been saying, people will look at anything and try to spin it as negative.
“Oh, so people will get criminally charged for running an actual literal ponzi scheme… Yeah, I don’t trust this crypto, time to sell.”
I watched the big meeting scene from Margin Call to get in mindset of dumping my Lebrons a few weeks ago.
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The funniest was the second hash war, which people might not remember or know about because it happened and the height (depth?) of the bear market:
Roger Ver and the nerds were sending each other death threats over this shit, and the entire market tanked. Yeah, that’s what you hate to see, somebody willing to give and take a life over a crypto fork. Much better if nobody gave a shit and let everything die out, that’s super bullish.
So you’re an actual rocket scientist?
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Smrk4, do you know why I’m sitting here?
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fuck that movie is so good
Smrk, you’ll never be able to sell a Lebron to these people ever again.
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The music is only slowing
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lol you were supposed to follow with the next line
Smrk4: I understand.
Do you?
Smrk4: Do you? This is it! I’m telling you this is it!
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The power consumption argument is actually very valid. Most of the services bitcoin is providing at the moment can be provided by other systems that use a fraction of the power bitcoin uses. Basically all bitcoin mining does is providing a ledger everyone agrees to which trusted parties can do with a single database server. The only thing bitcoin adds is that the parties don’t need to trust each other. Right now with our planet dying because we use too much energy I think we can do without bitcoin mining. Mind you this does not mean I am against bitcoin but right now proof of work based on electricity consumption is a major problem until all energy is green. Even mining using green energy means shit all as that just means someone else is using coal.
I’m going to have to demand you do your podcast segment this weekend
ETH proof of stake system is far superior
Sadly it is not. Proof of stake doesn’t actually fix what proof of work does. With enough value in the system proof of stake just ends up very much like our central bank system
Is my smartphone argument valid?
You’re saying something that isn’t important doesn’t deserve the electricity. That’s literally what I said.
Who me?
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That is not what I said and the smartphone argument is not valid either. Companies are actually trying to reduce the amount of energy they are using and are rewarded for doing so. Proof of work means you will always need to consume so much energy that it is not profitable for someone to use a similar amount of energy to attack the network. Better ASIC that use less energy actually do not reduce the overall energy usage of bitcoin, they just increase the hash rate and difficulty and miners can run more of them without actually changing the core service being offered.
Ok now I’m just confused. I said there shouldn’t be smartphones because they waste too much electricity.
Why do you keep describing the thing to me when I know what the thing is? We’re discussing whether or not the thing should exist.