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A comment on Cambridge Bitcoin Electricity Consumption Index. Parent comment

Re:Cambridge Bitcoin Electricity Consumption Index by charcircuit on Wednesday February 10, 2021 @08:51AM (#26088996)
It's about $7 at the moment to be included in the next block. A new block is added approximately every 10 minutes. Since bitcoin does not guarantee finality some services require you to wait for a certain amount of extra blocks after yours to reduce the chance of a change reorginaztion happening that doesn't include your transaction.

Bitcoin will not function as a currency due to it's high volatility. For a more usable currency look at DAI, USDT, and USDC which are stable coins pegged to the dollar. DAI is collateralized with on chain assets where USDT and USDC are collateralized with real life assets which are mainly regular USD.

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Re:Cambridge Bitcoin Electricity Consumption Index by wpietri on Wednesday February 10, 2021 @08:57AM (#26089098)
USDT claims to be collateralized with real life assets. But their story keeps changing, they refuse to allow an audit, and they're under serious investigation by the NY Attorney General. It can reasonably be thought of as a fraud that hasn't popped yet: https://www.kalzumeus.com/2019/10/28/tether-and-bitfinex/
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Re:Cambridge Bitcoin Electricity Consumption Index by emteycz on Wednesday February 10, 2021 @09:16AM (#26089384)
I keep hearing this for years and so far it didn't pop. I can't trust this anymore.
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Re:Cambridge Bitcoin Electricity Consumption Index by wpietri on Wednesday February 10, 2021 @07:38PM (#26096800)
You don't need trust to stay out of a speculative, highly volatile asset.
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Re:Cambridge Bitcoin Electricity Consumption Index by thargor90 on Wednesday February 10, 2021 @08:54AM (#26089055)
The public does not have proof that USDT is collateralized with real life assets. I'm not sure about USDC.
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Re:Cambridge Bitcoin Electricity Consumption Index by dang on Wednesday February 10, 2021 @05:50PM (#26095911)
Please don't take HN threads into flamewar like this. We ban such accounts, because we're trying for something significantly different on this site. Fortunately your account doesn't seem to have a history of this; please go back to avoiding it here.

https://news.ycombinator.com/newsguidelines.html

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