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Re:The Bitcoin bubble – Greater fool theory by krupan on Thursday November 09, 2017 @10:18AM (#15663078)
Are you saying our fiat systems of transfers and settlements use no energy?
Re:The Bitcoin bubble – Greater fool theory by UncleMeat on Thursday November 09, 2017 @10:23AM (#15663115)
It uses like seven orders of magnitude less per transaction.
Re:The Bitcoin bubble – Greater fool theory by krupan on Thursday November 09, 2017 @10:26AM (#15663150)
Citation? And remember a Bitcoin transaction is cash moving from my account to yours. Not just a promise of cash, after a few days of settlement, if no chargeback happens
Re:The Bitcoin bubble – Greater fool theory by BLanen on Thursday November 09, 2017 @11:35AM (#15663762)
You really think that a wire transfer takes a week's household of energy(Because that's the current energy per btc transaction)...?
Re:The Bitcoin bubble – Greater fool theory by krupan on Thursday November 09, 2017 @01:37PM (#15664686)
What really goes into a wire transfer in order make it happen securely? And is it as secure as a Bitcoin transfer? See also: Xiphias' comment about Proof of Military Power.
Re:The Bitcoin bubble – Greater fool theory by NTDF9 on Thursday November 09, 2017 @03:23PM (#15665583)
Right...so you want a world where there is no collective security. But hey, at least we all have bitcoins in our wallets?
Re:The Bitcoin bubble – Greater fool theory by xiphias on Thursday November 09, 2017 @12:00PM (#15663948)
Fiat currencies use proof of military power (war) as their security system. As an example you think USA would allow Kim Jong Un to issue US bonds (like he does with Bitcoin)? I much prefer the energy cost to military cost (that's why mining over Tor / satellite system is so important)