Re:Cambridge Bitcoin Electricity Consumption Index
by robotbikes on Wednesday February 10, 2021 @09:22AM
(#26089470)
If civilization collapses then I'm pretty sure bitcoins would be worthless as the whole mining chain collapses. I guess it is a good store of value in the more cyberpunk dystopia where large corporations continue to grow in influence and power and it is used to funnel funds for the shadow economy. I mean it is valuable because people with money are convinced it is valuable and that whole feedback loop.
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Re:Cambridge Bitcoin Electricity Consumption Index
by JumpCrisscross on Wednesday February 10, 2021 @09:38AM
(#26089677)
> If civilization collapses then I'm pretty sure bitcoins would be worthless
If all civilisations collapse, yes. But if your civilisation collapses, a neutral store of value is easier to own than e.g. a portfolio of foreign bonds in a handful of offshore accounts.
Re:Cambridge Bitcoin Electricity Consumption Index
by sailfast on Wednesday February 10, 2021 @09:44AM
(#26089750)
Sure, but any crypto coin could do that, and I doubt we would be using a currency as "mainstream" as bitcoin at this point to do it at that point because we could not afford the transaction costs. Probably be some privately issued Zaibatsu coin or something, with bitcoin use being reserved for the upper classes that had made it out. (OK I guess I've been reading too much Gibson lately)