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A comment on Ask HN: Is anyone else glad the crypto market is crashing?. Parent comment

Re:Ask HN: Is anyone else glad the crypto market is crashing? by New_California on Thursday May 12, 2022 @02:20PM (#31358084)
You have it all backwards. The PoW is useful work because it helps secure my hard-earned savings against very high inflation my country is dealing with (I store my savings in Bitcoin). While many other (non-PoW) energy uses you have in mind are useless for me.
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Re:Ask HN: Is anyone else glad the crypto market is crashing? by blibble on Thursday May 12, 2022 @02:41PM (#31358393)
there's plenty of other assets that can be used as an inflation hedge (e.g. precious metals, inflation linked bonds, etc)

none of which require burning hundreds of barrels of oil a day calculating quadrillions of sha1 hashes to keep their value from collapsing

and if you don't want to physically hold them then there's ETFs for that

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