Re:BitcoinEmissions – A project to calculate CO2 emissions o...
by ncza on Sunday February 15, 2015 @09:22AM
(#9052656)
But how much (dare I say little?) of it would be unneeded if bitcoin succeeded?
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Re:BitcoinEmissions – A project to calculate CO2 emissions o...
by tormeh on Sunday February 15, 2015 @09:43AM
(#9052710)
It can't succeed. Cryptocurrencies might succeed, but not bitcoin. It's not even inflationary; it's a cross between a payment system and a pyramid scheme.
Its a bit pedantic, but please don't say bitcoin when you mean cryptocurrency, as bitcoin is a pretty bad one.
Re:BitcoinEmissions – A project to calculate CO2 emissions o...
by oafitupa on Sunday February 15, 2015 @12:12PM
(#9053217)
> It's not even inflationary
And that's exactly the whole point, and is the very reason it's working.
> a pyramid scheme
Then every other successful investment is a pyramid scheme. Gold is a pyramid scheme! Storing food for catastrophes is a pyramid scheme! Paintings are a pyramid scheme!
Re:BitcoinEmissions – A project to calculate CO2 emissions o...
by ufo on Sunday February 15, 2015 @05:06PM
(#9054345)
Not every investment has to be a pyramid scheme. If you are generating value or selling a product then you end up with more money than what your investors are putting in.
What makes bitcoin into kind of a pyramid scheme is that right now a big part of the reward for miners is the 25 bitcoin you get from mining a block. Only a very small fraction comes from the transaction fees. The only way to keep bitcoin stable is by having a constant supply of new users buying into bitcoin by acquiring those fresh bitcoins from the miners.
Re:BitcoinEmissions – A project to calculate CO2 emissions o...
by calinet6 on Sunday February 15, 2015 @11:09AM
(#9052963)
Maybe a naïve question, but are there any good ones we should support instead?
Re:BitcoinEmissions – A project to calculate CO2 emissions o...
by the_mitsuhiko on Sunday February 15, 2015 @10:08AM
(#9052771)
I don't see a world in which Bitcoin would safe even only a single person in the traditional banking world. Bitcoin can neither replace banks nor creditcards. It might replace the ACH.