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A comment on Bitcoin’s climate damage is similar to beef and crude oil, says new study. Parent comment

Re:Bitcoin’s climate damage is similar to beef and crude oil... by abakker on Thursday September 29, 2022 @02:14PM (#33024888)
so, you take a loan in...USD to actually transact, and then hold an asset? so, why BTC, which is backed by nothing, when you could do this with a big portfolio of stock? Bitcoin is not really unique if used this way.

edit to add: owning bitcoin as a hedge to inflation has not worked. for about a decade of very low inflation, bitcoin was deflating. As soon as inflation started to rise, bitcoin lost 60% of its value. great hedge.

[ Parent | on HN ]
Re:Bitcoin’s climate damage is similar to beef and crude oil... by latchkey on Thursday September 29, 2022 @02:24PM (#33025032)
Do you use credit cards? Isn't that just taking out a loan and paying it back? Can you not fathom doing the same with BTC?

How do you use stock as collateral? Can anyone do that without having to ask for permission?

The 'btc is backed by nothing' argument is old and weak. We're over 10 years into this and it is still 20,000x more valuable than when it started. Try a new trope.

[ Parent | on HN ]