Most normal currencies are the same as bitcoin/crypto in that they are mostly digital but at least they have some mostly agreed upon value within their system. They don't need to be converted to another currency to find out which goods I can exchange for them.
Oh it will.
No, Bitcoin burns that much power because it has become the top speculative asset.
But it only became that after maybe 8 years. Before that it actually functioned more like a currency (amongst other things, for buying illicit goods online).
And what makes Bitcoin ideal for speculation is its capped emission where every 4 years the amount emitted is halved, encouraging FOMO.
I agree most cryptocurrency should die in a fire, including all the ones made to enrich their creators, which is the vast majority of them.
The few that do not allow their creators any financial gain, and those that strongly discourage speculation by having the same amount emitted every year, do not need to die.
The breakdown in cost pr. Transaction really drives home what a ludicrous system it is. Bitcoin is a fantastic example of a great invention put to horrible use.
Philadelphia•1h ago
everybodyknows•49m ago
https://english.elpais.com/science-tech/2022-07-07/jorge-sto...