Attack of the 50 foot Blockchain (2017)

Re:Attack of the 50 foot Blockchain (2017) by phase5 on Wednesday July 14, 2021 @10:44AM (#27833602)

Bitcoin is voluntary not compulsory. For the vast majority of the world it provides access to a more trustworthy financial infrastructure because almost 6.8 billion people aren't born with access to USD, EUR, SGD, JPY etc.

BTC is a digital bearer instrument, meaning its value is wholly digital and is a decent option as property rights for those at the bottom of the pyramid.

If you've lived through hyperinflation, Bitcoin is a decent option to consider.

I highly recommend this article with a purview of Bitcoin outside the West: https://bitcoinmagazine.com/culture/check-your-financial-pri...

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Re:Attack of the 50 foot Blockchain (2017) by user-the-name on Wednesday July 14, 2021 @12:44PM (#27835113)

The massive environmental harm bitcoin causes is not voluntary. We don't get to choose whether bitcoin miners should pump massive amounts of CO2 into our atmosphere, they just do it.

The massive societal and economic harm of ransomware is not voluntary. This is entirely powered by bitcoin and other cryptocurrencies, and we do not get to choose whether giant criminal gangs should be given a way to extort businesses all over the world, businesses that provide crucial services to people.

Nothing about this is voluntary. The harm is forced on everybody.

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Re:Attack of the 50 foot Blockchain (2017) by phase5 on Sunday July 18, 2021 @11:03AM (#27873521)

The environmental damage is highly inaccurate. In fact Bitcoin is a driver for renewable energy. Here's why: https://assets.ctfassets.net/2d5q1td6cyxq/5mRjc9X5LTXFFihIlT...

Here's a more in-depth thread on Bitcoin and the Environment if you need access to more articles: https://twitter.com/asianhodl1/status/1392678699531575302?s=...

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