Cyber Ghost@lemmygrad.ml to Memes@lemmy.ml · 2 years agoCome on comrades! What are you waiting for?!lemmygrad.mlimagemessage-square20linkfedilinkarrow-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 · 2 years agomessage-square20linkfedilinkcross-posted to: memes@lemmygrad.mlmemes@hexbear.net
minus-squareMubelotixlinkfedilinkarrow-up1arrow-down3·2 years 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-down1·2 years agoDoes Bitcoin work? As anything other than scam?
minus-squareFluffyPotato@lemm.eelinkfedilinkarrow-up1arrow-down1·2 years 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-squareMubelotixlinkfedilinkarrow-up1·2 years agoBitcoin only consumes spare energy that couldn’t be sold for a better price to someone else
minus-squareFluffyPotato@lemm.eelinkfedilinkarrow-up1·2 years agoIn that case transactions would take months if not more making it effectively useless.
minus-squareBurgerPunk [he/him, comrade/them]@hexbear.netlinkfedilinkEnglisharrow-up1arrow-down2·2 years agoIt can’t? So pump and dump schemes are a feature not a bug?
minus-squareMubelotixlinkfedilinkarrow-up1·2 years agoBitcoin doesn’t care how much people price it in dollars
minus-squareBurgerPunk [he/him, comrade/them]@hexbear.netlinkfedilinkEnglisharrow-up1·edit-22 years 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