Cyber Ghost@lemmygrad.ml to Memes@lemmy.ml · 1 year agoCome on comrades! What are you waiting for?!lemmygrad.mlimagemessage-square20fedilinkarrow-up164arrow-down119cross-posted to: memes@lemmygrad.mlmemes@hexbear.net
arrow-up145arrow-down1imageCome on comrades! What are you waiting for?!lemmygrad.mlCyber Ghost@lemmygrad.ml to Memes@lemmy.ml · 1 year agomessage-square20fedilinkcross-posted to: memes@lemmygrad.mlmemes@hexbear.net
minus-squareMubelotix@jlai.lulinkfedilinkarrow-up1arrow-down3·1 year agoThis is exactly why Bitcoin works. But it will be much harder to create a democracy than a currency
minus-squareBurgerPunk [he/him, comrade/them]@hexbear.netlinkfedilinkEnglisharrow-up7arrow-down1·1 year agoDoes Bitcoin work? As anything other than scam?
minus-squareFluffyPotatolinkfedilinkarrow-up1arrow-down1·1 year agoIt would literally break if it replaced all currency. Transaction times would be either measured in months if that happened or bitcoin would consume 10x the current energy production of the entire earth.
minus-squareMubelotix@jlai.lulinkfedilinkarrow-up1·1 year agoBitcoin only consumes spare energy that couldn’t be sold for a better price to someone else
minus-squareFluffyPotatolinkfedilinkarrow-up1·1 year agoIn that case transactions would take months if not more making it effectively useless.
minus-squareBurgerPunk [he/him, comrade/them]@hexbear.netlinkfedilinkEnglisharrow-up1arrow-down2·1 year agoIt can’t? So pump and dump schemes are a feature not a bug?
minus-squareMubelotix@jlai.lulinkfedilinkarrow-up1·1 year agoBitcoin doesn’t care how much people price it in dollars
minus-squareBurgerPunk [he/him, comrade/them]@hexbear.netlinkfedilinkEnglisharrow-up1·edit-21 year agoThe people speculating on its worth do
This is exactly why Bitcoin works. But it will be much harder to create a democracy than a currency
Does Bitcoin work? As anything other than scam?
Better than that, it can’t break
It would literally break if it replaced all currency. Transaction times would be either measured in months if that happened or bitcoin would consume 10x the current energy production of the entire earth.
Bitcoin only consumes spare energy that couldn’t be sold for a better price to someone else
In that case transactions would take months if not more making it effectively useless.
It can’t? So pump and dump schemes are a feature not a bug?
Bitcoin doesn’t care how much people price it in dollars
The people speculating on its worth do