Re:Bitcoin may consume as much energy as all data centers gl...
by tracedddd on Wednesday March 10, 2021 @10:56PM
(#26420024)
Cryptocurrency has indeed been through several speculative bubbles, and we may even be in the midst of one now.
However, I think the speculative bubble valuation of 2010 is well justified now. The thing about speculation is that sometimes the speculators are right. Tesla is almost certainly in a speculative bubble, too, but every day they arguably justify a higher base value.
That said, you seem relatively balanced for a crypto critic, and didn’t miss the boat but rather jumped off, so I’m not sure you’re part of the cohort I’m describing.
However, I think the speculative bubble valuation of 2010 is well justified now. The thing about speculation is that sometimes the speculators are right. Tesla is almost certainly in a speculative bubble, too, but every day they arguably justify a higher base value.
That said, you seem relatively balanced for a crypto critic, and didn’t miss the boat but rather jumped off, so I’m not sure you’re part of the cohort I’m describing.