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A comment on Cambridge Bitcoin Electricity Consumption Index. Parent comment

Re:Cambridge Bitcoin Electricity Consumption Index by jiriknesl on Wednesday February 10, 2021 @08:58AM (#26089117)
I use it as a currency for years.

Especially for large transactions internationally, where my bank asks me+the other party to fees like $30 and it takes 3 days if everything goes well.

In comparison with that, BTC for those years, gave me on average 40 minutes and $1 fee.

This is thirty times better than what my bank provides.

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Re:Cambridge Bitcoin Electricity Consumption Index by afavour on Wednesday February 10, 2021 @09:15AM (#26089379)
I use TransferWise in those situations. It works great.
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Re:Cambridge Bitcoin Electricity Consumption Index by jiriknesl on Wednesday February 10, 2021 @09:23AM (#26089474)
I use TW too. But it doesn't work with post-soviet countries. It doesn't work to Vietnam. It doesn't work to Iran.
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Re:Cambridge Bitcoin Electricity Consumption Index by nly on Wednesday February 10, 2021 @09:04AM (#26089225)
What countries?
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Re:Cambridge Bitcoin Electricity Consumption Index by jiriknesl on Wednesday February 10, 2021 @09:25AM (#26089510)
Russia, Belarus, Ukraine, Vietnam, Iran
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Re:Cambridge Bitcoin Electricity Consumption Index by alisonkisk on Wednesday February 10, 2021 @09:04AM (#26089217)
Do you feel bad that you used bitcoin to save $30 instead of speculating on it to make $30K?
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Re:Cambridge Bitcoin Electricity Consumption Index by picks_at_nits on Wednesday February 10, 2021 @09:16AM (#26089390)
This may not be the most constructive way to make the point, but this is a feature of any speculative asset. If the market as a whole has a very high confidence it will continue to rise in value, few people will want to trade it for goods and services unless they have no choice or can make even more money from the goods and services than they can from holding the asset.

Otherwise, it’s like getting options in a startup and spending them on pizza.

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Re:Cambridge Bitcoin Electricity Consumption Index by jiriknesl on Wednesday February 10, 2021 @09:24AM (#26089500)
No. I don't use BTC as a speculative asset. I use it for two things:

1. when it is expensive or difficult to send money to places like Vietnam, post-soviet countries, Iran. 2. some saving in case the shit hits the fan and I will have to survive for a couple of months without TransferWise, Revolut.

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