Adam Chalmers

5T$ fossil fuel subsidies by nation states, financed through fiscal deficits, are much more detrimental than Bitcoin's PoW.. which can run on renewable energy

Data here: https://www.imf.org/~/media/Websites/IMF/imported-full-text-pdf/external/pubs/ft/wp/2015/_wp15105.ashx …

Yeah, I hate it when people make similar arguments against Teslas/solar panels, but given the energy devoted to running the BTC network it's still kinda gross to me

What about if Bitcoin, as competition of state-issued money, will force government to become fiscally conservative and stop giving tax breaks to the fossil fuel industry?

Pretty sure that a fiscally-conservative government would just cut healthcare, social services, education funding etc. Can't really imagine them defunding oil with current energy climate.

Fiscally expansionary policy have no incentive to be efficient in reaching even those outcomes as all loses are socialized by inflation. Also, how much power you truly have to decide the allocation of your taxes in the current system?

Bitcoin is the strongest political weapon against the current system that we have. Take away the power to control money from unaccountable, hidden decision making, forced on us by violence and make it an open protocol, a public good which you can join voluntary.

Ah yes a made up neo-liberal-hellhole currency regulated and backed by none that can't be spent on anything but drugs, apps & the odd coffeeshop will truly pressure governments into not being neo-liberals. Fucking genius take.

Should remove "Instead".

fuck you're absolutely right, would have made it 10x clearer. Thank you!

Bitcoin isn't a market. It's a currency...

Bitcoin is not a currency. You can't pay your taxes or your bills in it. It's a digital commodity traded in a pyramid scheme, in that it only gains value by bringing in more investors.

Very near-sighted view of currency, but from a practical standpoint, I hear you. I could make pyramid scheme analogies about Keynesian economic model as well. Bitcoin is a software database. It solved a few interesting problems, and further interesting ideas are evolving from it.

I think blockchains are far more interesting than Bitcoin will ever be.

Well, I think people are going to have egg around and on their face when they witness a global decentralized identity system users and major companies/agencies will rely on in all areas of their business, run on the same public blockchains you are mocking.

No one in the thread is mocking the blockchain. Salty much?

Again, no one is mocking blockchain(s). Bitcoin is an application that runs on top of a blockchain. That same blockchain can be used for other things like decentralized auth systems or accounting platforms. The concept of a blockchain is not intrinsically linked to bitcoin.

1/ "The concept of a blockchain is not intrinsically linked to [value xchng]" <-- this is the misconception that touches both tech and economics Most decentralized use-cases require a broad set of diverse, opposed participants, and value-imbued blockchains are what provide that.