Re:Bitcoin mining used more water than New York City last year
by imtringued on Thursday December 07, 2023 @02:33AM
(#38553842)
Nothing stops you from borrowing Bitcoin loans and using that to pay for your house... except the risk that Bitcoin goes up from 40k€ to 60k€ and your loan got 50% more expensive and there you go, your comment becomes pure hypocrisy.
The idea that 11 people bidding up 10 houses is going to radically change if you have Bitcoin or a narrow bank is ridiculous. If people borrow Bitcoin for the loan, they will still have to outbid everyone else at exactly the same price measured in dollars, because eleven people are bidding up 10 houses.
I am honestly quite tired of nonsense like your comment. If the economy is in general equilibrium, then there is no meaningful difference between Bitcoin and the dollar. If there is no general equilibrium, I would expect Bitcoin to be further away from it than dollars.
The idea that 11 people bidding up 10 houses is going to radically change if you have Bitcoin or a narrow bank is ridiculous. If people borrow Bitcoin for the loan, they will still have to outbid everyone else at exactly the same price measured in dollars, because eleven people are bidding up 10 houses.
I am honestly quite tired of nonsense like your comment. If the economy is in general equilibrium, then there is no meaningful difference between Bitcoin and the dollar. If there is no general equilibrium, I would expect Bitcoin to be further away from it than dollars.