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A comment on Cambridge Bitcoin Electricity Consumption Index. Parent comment

Re:Cambridge Bitcoin Electricity Consumption Index by janoside on Wednesday February 10, 2021 @11:52AM (#26091607)
Rather than a case, how about a framework to evaluate going forward: the market. Given enough time, I'm pretty sure the market will root out the "real value" of bitcoin and keep assessing the "real value" of gaming.

Let's watch for 5-10 years. If you're right about bitcoin, I bet its price will be much lower and you can gloat. If you're wrong, I bet its price will be much higher (because I agree with the basic assessment that gaming "feels" much bigger today). Luckily, we can both place our bets based on our best assessments of the future.

How confident are you that you can present a substantive case against bitcoin that matches the diligence that Ross Stevens has done for years? https://www.youtube.com/watch?v=lczPTYf_tvA

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Re:Cambridge Bitcoin Electricity Consumption Index by boh on Wednesday February 10, 2021 @12:27PM (#26092099)
Asset values don't reflect economic impact/relevance (as in a $100MM Picasso doesn't indicate $100MM of economic activity). That's why GDP is used as an indicator for economic growth, not market caps.
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Re:Cambridge Bitcoin Electricity Consumption Index by ctdonath on Wednesday February 10, 2021 @08:51PM (#26097310)
Market cap is an estimated resale value under current/predictable conditions. GDP is a total of cumulative annual transactions. We can measure Bitcoin both ways, and each is remarkable.
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Re:Cambridge Bitcoin Electricity Consumption Index by boh on Thursday February 11, 2021 @11:54AM (#26103896)
Hopefully anyone reading this will take a minute to look up GDP.

The comment above, in a nutshell, is what's enveloping the current crypto environment. Maybe one day we'll get past it (or maybe this is just it).

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Re:Cambridge Bitcoin Electricity Consumption Index by Grustaf on Wednesday February 10, 2021 @03:03PM (#26093943)
As it happens I just listened to a long talk by him, perhaps this one. He kept arguing that "bitcoin isn't volatile, because the price of various things measured in bitcoins keep falling".

Either he doesn't know what volatility means or he is trying to scam people.

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