hfsp
I provided evidence (from NY fed) to your burden of proof request.
All one can ask is to have the same rules for everyone. Equal access. No special privileges.No cantillionaires.
If you are a cantiollionaire - good for you.
If you are not a cantiollionaire, then wtf are you defending a clearly corrupt system that further drives inequality and perpetuates cronyism? Is it because you want to be the person distributing freshly printed fiat?
Assuming your well founded intentions are to make the world less inequal via the money printer, the money printer has been proven to do the exact opposite.
If you want to properly critique btc, you can argue that there is a one time cantillon effect until hyperbitcoinization. Then you can get into the discussion of what happens to the people who don't have any. You could discuss UBI or other social systems.
Methane is an organic fuel. Coal is an organic fuel.
>You don't burn crude oil in power plants.
Diesel is how small island nations in the Carribean or Hawaii get their reliable electricity. Diesel is a heavier form of crude. In case you don't believe me here is a primer: https://www.eia.gov/energyexplained/diesel-fuel/.
>That there are starving people in africa is not a valid argument for Americans to over eat, likewise the lack of cheap reliable alternatives to fossil fuels in the third world is not a reason for the developed world to also keep burning fossil fuels.
>lack of cheap reliable alternatives to fossil fuels in the third world is not a reason for the developed world to also keep burning fossil fuels.
What exactly are you saying? You are depriving the poorest billion people of electricity because of your virtue signaling?? This is inhumane.
"Over eat" - who are you to judge what form of electricity use is moral?
This is insanity on multiple levels.
Who do you think gets the benefit of the freshly printed fiat?
In the central bank cantiollionaire system, there are three classes of citizens:
1) jamie dimons, warren buffets and the like who get access to practically 0 cost lending rates 2) the ~60% of citizens with assets (e.g. stonks, real estate) that get pumped along with the money printer 3) everyone else
What do you think happens to "third class" citizens?
The rules are NOT the same for everyone under the central banking system.
The rules ARE the same for EVERYONE with BTC.
https://www.newyorkfed.org/medialibrary/media/research/staff...
pos = centralization risk.
pos = shitcoin.
If you want to read in depth: https://voskuil.org/cryptoeconomics/cryptoeconomics.pdf.
It isn't necessarily "Africa" or "Americas".
The heuristic is "is my local fiat shitcoin stealing my purchasing power".
Counter to your claim and easily provable with a basic search Nigeria is one of, if not the leading in BTC adoption %.
https://www.msn.com/en-us/money/news/nigeria-is-the-second-l...
https://www.statista.com/statistics/1194735/bitcoin-online-s...
Said "scientific study" is funded by Wellcome. An arm of WHO, unelected crisis manufacturer supreme. On wellcome's site:
"Reducing meat intake, particularly in the USA where meat consumption is highest, should be a global priority."
Show me the incentives and I'll show you the outcome.
1) Failure of winterization across both wind and organic power sources 2) Unreliable nature of wind
The problem is there is no grid scale storage, and neither ERCOT nor any other organization I know of can will solar nor wind into production.
Completely agree with your assessment.
ERCOT leadership failed.
TX power grid failed.
People died.
Pretty telling their own founder was ousted last year.
Agreed on the ideological slants.
People were put in harms way.
>It should be prioritized over the private gains of fossil fuel executives/employees/lobbyists. Stop playing politics with my power system.
You are playing politics. I just want to not freeze to death during the snowstorm, or fry up in the hot summer.
Unreliable electricity sources such as wind and solar are a recipe for paying more for electricity, and losing power when it is most needed.
Please note organic fuels: -provide parts for your computer, smart phone, router -power your home, and office so you can use above -keep you cool in the summer and warm in the winter -transport you on the ground and in the air from A to B -power the agricultural sector so you don't have to grow all your own food
Unlike you, there are a billion people+ on Earth who do not have access to cheap, and reliable energy.
This is peak developed world virtue signaling.
You are referring to unit of account.
https://nakamotoinstitute.org/mempool/bitcoin-as-a-store-of-...
Btc is not replacing visa. Btc is replacing central banks. The appropriate comparison here is what is the energy cost of the banking infrastructure of the incumbent system.
>Environmental concerns aside I am concerned that you are using electricity to power your computer, access the internet, and comment on HN. Are you the arbiter of "moral" energy use? Am I? Slippery slope, and an anti-human one at that.
>Energy prices are notoriously volatile; hence Bitcoin's value will also be volatile.
This is not how it works. There is an argument to be made for risk of on-grid miners sudden increase of electricity prices in the case of a power shortage. Miners don't like this type of risk, so they choose to locate at places with abundant supplies and stables prices of electricity. Miners sign long-term electricity agreements. Risk to off grid miners is another level removed from on grid miners.
>will eventually be abandoned entirely. According to how you feel? All signs point otherwise.
>the technical objections to Bitcoin outweigh the economic objections You are free to make your own fork, BIP, or new "crypto" and compete. Good luck. By the way, there are 7999 "crypto" coins competing and losing so far.
The market decides. Not an economics "expert", nor fitting btc to an arbitrary theoretical definition of money.
>It seems that tech has enabled a grand new theory about money to be implemented.
Are you aware of the Austrian school of economics?
This is a feature, not a bug. It is very difficult to change the protocol. We have a 100% certain monetary policy.
I agree with you that perception of what btc is and isn't changes with time.
If you have a proposal, you are free to create and propose a BIP, or fork off.
Good luck.
Solar, wind, batteries all have environmental costs, as do all other sources of energy & energy storage.
Unfortunately, hit pieces like the OP's share from the Guardian do not objectively compare benefits vs costs & risks.
Take the US case. 23.2 GW "capacity". Over what period of time? A second? A minute? An hour? A day? A month? A year?
Let's take a case study of California, the "leader" in energy storage in the US. California removes reliable and cheap organic power plants, and is surprised to find at periods of peak demand when energy is needed most (heat waves, cold spells) the system falls apart. [By the way, removing reliable access to electricity is how you expose the most vulnerable segments of the population to danger of life and safety.]
"The state’s grid operator blamed the blackouts on “a perfect storm” of extreme heat and unusually high demand, as well as a drought that’s limiting hydropower resources and a decline in electricity imports from neighboring states also struggling to keep air conditioners humming. Compounding the problem, 1 gigawatt of wind unexpectedly went offline Saturday, along with a gas plant."....
"“In some cases, we have built a reliability plan that isn’t completely realistic.”"....
"The dearth of battery storage has long been a key barrier to transitioning to a green grid. Though the price of batteries has fallen significantly, they’re still not in widespread use. California only had enough to tackle about 1% of Monday’s peak load forecast, "
California storage cannot handle 1% of battery needs. Please keep in mind when reviewing assumptions, claims, and statements about solar & wind grid.
https://www.bloomberg.com/news/articles/2020-08-17/californi...
The Germans invented a new term in the context of this issue - energy poverty.
Do you want to pay more for your electricity, produce more emissions so we can virtue signal that our electric production is solar & wind?
This approach means that you are depriving a billion people on Earth of reliable access to electricity. https://www.youtube.com/watch?v=0_a9RP0J7PA
>How do you get from there to 'and therefore we should give up on making more'? I do not claim this. I am stating facts in the face of unreliable energy dogma. Let the free market compete.
>Solar and wind are the cheapest electrical generation technologies What do you think happens 90% of the time when solar & wind are not available in sufficient capacity? People shut off their lights, laundry machine, and heater/air conditioning?
https://www.bbc.com/future/article/20150402-the-worst-place-....
The grid, and thus electric cars run on fossil fuel. Contrary to your belief, expensive unereliables such as solar, and wind cannot run the grid by definition. Solar and wind are great, when they are up.
Case in point: Germany. Shut down carbon free, emission free, reliable, cheap, safe nuclear. Subsidize, install solar, wind. Find out solar & wind are unreliable. Fire up new coal power plants. Increase emissions due to constant ramp up and ramp down of carbon plants (similar to stop and go traffic on the highway). Increase cost.
https://foreignpolicy.com/2021/02/10/is-germany-making-too-m...
[ ] ELECTRIC CAR GOOD
[ ] ELECTRICITY BAD
You have read Lyn's post on QE - great!
Here's how I view it, and I believe Saylor as well: cash loses double digit % purchasing power annually for the things you want to buy and hold.
You can hold on to your melting pile of cash, or you can deploy that capital elsewhere. Art, wine, stonks, negative/0 yielding bonds, real estate, crypto kitties, or an asset that has been appreciating at a clip of 200%/yr.
Question is not why btc, but why would you put yourself at a disadvantage by holding fiat reserves.
If you hate VCs, buy btc.
You would do well to take the time to understand why MSTR did what they did.