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Re:The political case for a blanket cryptocurrency ban by nyolfen on Wednesday March 31, 2021 @06:31PM (#26653976)
the US dollar is backed by the petrodollar arrangement: oil exporters accept dollars for oil in exchange for defense guarantees and other benefits. everyone needs oil, so everyone needs dollars. the dollar is inextricably tied to oil consumption and the US is strategically invested in it. add to this that the US military is the single largest institutional consumer of oil on the planet. there is no coherent argument that bitcoin is worse for the environment than this. bitcoin only wants cheap energy; it is agnostic about what generates it, and incentivizes renewables since they tend to be the cheapest.

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