Bitcoin still makes no sense

Re:Bitcoin still makes no sense by toolz on Saturday December 05, 2020 @08:47PM (#25320224)

bitcoin uses less resources than traditional banking. I think people should stop judging it in a vacuum and instead speak in relative terms. If energy use is a concern then fiat is the greater offender. https://bitcoinist.com/banks-consume-energy-bitcoin/

further crypto would be a much more flexible domain at working towards reducing carbon emission than deeply embedded and slow changing fiat systems

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Re:Bitcoin still makes no sense by root_axis on Saturday December 05, 2020 @08:49PM (#25320239)

Bitcoin does not replace traditional banking even if you view it as a legitimate currency.

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Re:Bitcoin still makes no sense by bingbong123 on Sunday December 06, 2020 @10:03AM (#25323863)

Why not? Do you think every financial service offered by traditional banks can't be coded and made more efficient using internet-native money (bitcoin)?

If so, what services can't? People already use BTC as collateral for loans/mortgages ...which are two of the riskiest activities traditional banks engage in.

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Re:Bitcoin still makes no sense by sesuximo on Saturday December 05, 2020 @09:09PM (#25320379)

Banks use way less energy per customer

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Re:Bitcoin still makes no sense by bingbong123 on Sunday December 06, 2020 @10:11AM (#25323922)

I've walked into many semi-empty downtown brick and mortar banks with 5-10 idle employees, you want to continue paying that "innefficiency tax" in every transaction/loan/wire/credit-card/etc...?

I don't think people really think through the reason there is a 20% tax on financial activity that goes through traditional banking system.

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Re:Bitcoin still makes no sense by yownie on Saturday December 05, 2020 @11:00PM (#25320910)

8 years vs 150 years of technology though

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