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A comment on El Salvador Plans to Use Electricity Generated from Volcanoes to Mine Bitcoin. Parent comment

Re:El Salvador Plans to Use Electricity Generated from Volca... by ethanbond on Friday June 11, 2021 @02:54PM (#27477144)
But currency needs to move in order to be, you know, a currency. The lack of upward price movement of e.g. the US dollar means that there is no advantage to sitting on it. Invest it, spend it, or lose it.

Inversely, with BTC, you would want to spend as little as humanly possible. Make whatever philosophical arguments you want: this is not adding oil to the engine. This is adding sand.

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Re:El Salvador Plans to Use Electricity Generated from Volca... by emptysongglass on Friday June 11, 2021 @06:15PM (#27479156)
> Inversely, with BTC, you would want to spend as little as humanly possible.

Sign me up. Hyper-consumerism has laid waste to our planet, commoditized every human interaction, and polluted our minds with its drivel.

Behold Denmark and its glorious decision to punish its citizenry for saving any amount of money at all. Hope you weren't thinking of saving your pennies for a ticket out of the renter's racket, Denmark would prefer you stuff it in stocks and pay them their cut.

It's time we seized control of the engine and refashioned it into a tool that serves our welfare.

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Re:El Salvador Plans to Use Electricity Generated from Volca... by NicoJuicy on Saturday June 12, 2021 @04:14AM (#27482652)
I don't think you know how economics works.

If no one would spend money, the related countries would go bust within a year.

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Re:El Salvador Plans to Use Electricity Generated from Volca... by emptysongglass on Saturday June 12, 2021 @11:55AM (#27485293)
I never argued for not spending money. Please revisit my comments.
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Re:El Salvador Plans to Use Electricity Generated from Volca... by perl4ever on Friday June 11, 2021 @11:09PM (#27481143)
>Hyper-consumerism has laid waste to our planet

If you don't want to consume, then you can just...not consume.

Why buy bitcoin in order to not sell it, ever?

[ Parent | on HN ]
Re:El Salvador Plans to Use Electricity Generated from Volca... by emptysongglass on Saturday June 12, 2021 @01:44AM (#27481889)
But you would sell it to pay for things you actually need, like food and warmth. It's a built-in mechanism for regulating appetites for useless crap.
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