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A comment on The political case for a blanket cryptocurrency ban. Parent comment

Re:The political case for a blanket cryptocurrency ban by abakker on Wednesday March 31, 2021 @02:06PM (#26650772)
This is valid, but not quite the same. Inflation encourages consumption of Goods. Bitcoin encourages the consumption of goods too. To just maintain bitcoin takes a lot of energy. It is a bigger stretch to blame environmental degradation on the math of inflation than it is to look at the direct environmental costs of actually maintaining the bitcoin network.

inflation encourages investment in renewables. the deflationary nature of bitcoin appreciation means owners of bitcoin are going to defer current investment in renewables because the future value of bitcoin is greater than the present value of clean energy.

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Re:The political case for a blanket cryptocurrency ban by webinvest on Wednesday March 31, 2021 @05:31PM (#26653424)
Inflation has been encouraging investment in oil and gas companies. Just look at the stock market returns by sector since Jan 2021 and see which one stands out! >.>

Investors like oil & gas because has a low enough Price to EPS ratio to feel like an undervalued safe haven and it still pays dividends like nothing else.

Don’t forget: every $100 invested in bitcoin is $100 of bitcoin sold. There is always somebody on the sell-side. When they receive the money, they may also do productive (likely technology-based) work with it.

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