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Re:Cambridge Bitcoin Electricity Consumption Index by Slartie on Wednesday February 10, 2021 @07:47PM (#26096863)
For some reason the Euro does not need all that "grossly oversized military" to be a proper, stable and usable currency. That alone kind of contradicts the entire grossly overstretched argument of this Nic Carter guy.
Re:Cambridge Bitcoin Electricity Consumption Index by ImaCake on Wednesday February 10, 2021 @08:03PM (#26096967)
While I am also skeptical of the parent comment's quotes. The Euro is still backed by a centralized state(s) which does indeed have a monopoly on violence and require huge amounts of resources to maintain legitimacy. Crypto currencies demonstrably do not need these kind of resources. The rest of what people preach about crypto might be Bullshit, in a strict sense, but they are right about the anarchism thing.
Re:Cambridge Bitcoin Electricity Consumption Index by arcticbull on Wednesday February 10, 2021 @09:22PM (#26097511)
All states by definition requires a monopoly on violence and resources to retain legitimacy. The currency is just a freeloader, and the consumption of resources to sustain a cryptocurrency is purely strictly additive.
Re:Cambridge Bitcoin Electricity Consumption Index by BelenusMordred on Thursday February 11, 2021 @01:03AM (#26098728)
The European Union has a huge standing army if they were counted as one force? Over 1 million active personnel. The US by comparison has 1.4m and China 2.0m