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A comment on Bitcoin's vast energy use could burst its bubble. Parent comment

Re:Bitcoin's vast energy use could burst its bubble by mdoms on Sunday April 11, 2021 @07:10PM (#26774398)
> The reason the price of bitcoin (and hence the energy cost of mining) is going up is that people have lost faith in the monetary institutions

No, the reason bitcoin has increased in price is speculation of future increases.

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Re:Bitcoin's vast energy use could burst its bubble by bko on Sunday April 11, 2021 @08:17PM (#26774834)
That's not exactly a deep insight. People buy things because they think its going to go up in price.

Basically every asset is up considerably since the US government decided to spend $12 trillion and increase the money supply by 23% in one year. I'm sure its completely unrelated

[ Parent | on HN ]