yolo contendere

Could you also explain Blockchain? (Please & Thanks)

okay. i have a pile of Sudokus my car solved, and a secret "signature" Sudoku which identifies me. whenever i want to buy heroin, both my dealer and i sign the one i'm paying with with a combination of our signatures, and then people can validate that it belongs to him now.

This...this makes sense. Thanks!

yeah, the "chain" is more or less the list of signed transactions attached to a single coin.

So, if bitcoin ever did start to circulate as fast as real currencies, the recording of the blockchain would also soon begin to consume vast amounts of storage?

Storage would not be an issue, as it is a distributed system. The rub is the processing effort needed to verify and the rate at which the processing can happen

Even distributed, surely storage eventually becomes an issue? Imagine day traders settling deals in bitcoin? But I take the point that processing the verification is an even bigger problem.

People who hate on bitcoin are tedious. If you have the conviction that bitcoin is essentially worthless, you could trivially short it and make boatloads of money.

I think it's fair to criticize Bitcoin about the amount of resources it consumes. not everything is about money

Gold and paper money use far more energy and resources than Bitcoin will use in 100 years. Bitcoin's energy use is stable, consistent, and predictable.

yes, it is predictable in that it will increase supralinearly without bound until the energy cost of computing a transaction exceeds the total energy produced by human civilization.

Nothing like a carrot on a stick for us to find new exciting technologies to power this futuristic world.

But as an added bonus Bitcoin doesn't use physical resources or destroy natural environments the same way gold/paper does. Mining an area for gold can destroy a lot of natural habitat. All of the mining equipment can be eventually scrapped and recycled into new things.

literally everything you just said is an ad-hoc justification which you would laugh off if anyone said it about something which was not presently making large numbers get bigger.

this planet has plenty of power to spare and large untapped renewable sources of energy that we have only begun to use. Bitcoin is using a fraction of the total energy expenditure of the world. But no one blinks when banks, data centers, or sports use even more.

Cool! Now do the US Dollar

the US dollar is a token of entititlement to a portion of a pool of unallocated goods on the market. the government takes its portion of its entitlement to that pool of goods via taxation, and can dilute or concentrate the value of those tokens via "purchase" or "sale" of debt.

Wow

where is the lie?

no where

It's all cake.