I, uh, never said that. I don't see Bitcoin as a currency at all.
> That said, gold technically exists already to meet this in my humble opinion as a proper hedge.
No thank you. Gold-mining is way more ecologically disastrous. If Bitcoin replaces gold, the environment will be better off for it -- at least you can mine Bitcoin with nothing more than solar panels and wind farms.
> I just believe the assumption that bitcoin will just move over 100% to green energy sources is naive at best
One way or another, the world is going to need to move all its energy production to 100% renewables, or humanity is going to be in for a world of hurt. But, this is true with or without cryptocurrencies.
I stand corrected.
>No thank you. Gold-mining is way more ecologically disastrous. If Bitcoin replaces gold, the environment will be better off for it -- at least you can mine Bitcoin with nothing more than solar panels and wind farms.
Well there's just one problem. You need gold as a component in the creation of systems that mine bitcoin. Oops! So we are kinda stuck with gold mining, which we need to do, just so bitcoin can be mined, which we don't have to do. With that in mind, why not just skip to just straight up owning gold?
>One way or another, the world is going to need to move all its energy production to 100% renewables, or humanity is going to be in for a world of hurt. But, this is true with or without cryptocurrencies.
On this point, I hope you are right. We do need to get off of coal and gas as soon as we can.
Moving gold from one country to another country on your is difficult.
Storing gold properly without getting robbed is difficult.
Try moving $5million dollar worth gold and you'll realize the advantage which bitcoin brings.
If I read the price correctly that would be something like 80kg. I can't be bothered to dig deeper, but that would be just a few gold bars, I suspect. Not very hard to handle, IMO...
Also, to your point about greenifying Bitcoin, I just believe the assumption that bitcoin will just move over 100% to green energy sources is naive at best, and considering that is energy that isn't being used for activities I would argue as more productive (like powering homes, schools, electric cars), I just feel that it's a real opportunity loss.
I just think it's not as likely to happen. Maybe if nuclear power really starts to take off again, there might be hope, as the sheer amount of Gigawatts that such plants can produce could easily outpace other green energy technologies. Sadly we have some anti-nuclear sentiment that blocks progress in building new plants quickly.