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aral's profile
Aral Balkan
Aral Balkan
Aral Balkan
@aral

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Aral Balkan

@aral

I mainly post on my blog at https://ar.al  (RSS: https://ar.al/index.xml ) and interact on my Mastodon https://mastodon.ar.al . Please follow me there.

Terra firma
ar.al
Joined December 2006

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    Aral Balkan‏ @aral May 17

    Aral Balkan Retweeted CoinDesk

    Because fuck the environment, amirite? Who cares if buying that cup of coffee just used as much electricity as a house in the Netherlands does in four months? When you’re a right libertarian, it would seem everything but your own selfish, shortsighted desires are externalities.https://twitter.com/coindesk/status/996814561754976256 …

    Aral Balkan added,

    CoinDeskVerified account @coindesk
    Jack Dorsey Hopes Bitcoin Will Become The Web's 'Native Currency' http://bit.ly/2KvDACy  pic.twitter.com/H7n4RkHT4d
    1:13 AM - 17 May 2018
    • 20 Retweets
    • 51 Likes
    • @joachim@boitam.eu Ezekiel Stevens Michael Sproul Dennis Ashcan Consortia Preeti Kanther Chojubo Evil Glitter Daniel Jay marsupiando
    12 replies 20 retweets 51 likes
      1. New conversation
      2. Zach Winn‏ @CampbellsPoop May 17
        Replying to @aral

        If you can't squander resources, how do you ever know if you have enough?

        1 reply 0 retweets 0 likes
      3. Aral Balkan‏ @aral May 17
        Replying to @CampbellsPoop

        Indeed; what was I thinking? ;)

        1 reply 0 retweets 1 like
      4. Zach Winn‏ @CampbellsPoop May 17
        Replying to @aral

        The bitcoin as religion types believe that cryptocurrency is a black hole and fiat currency has slipped over the event horizon. It is just a matter of time before bitcoin becomes the dominant global currency.

        0 replies 0 retweets 0 likes
      5. End of conversation
      1. New conversation
      2. Daniel Harvey‏ @Daniel__Harvey May 17
        Replying to @aral

        The very idea that bitcoin mining attracts so much interest demonstrates its failure. The idea that “mining” provides value for performing no work is theft - theft from the planet and from her people.

        1 reply 1 retweet 2 likes
      3. Daniel Harvey‏ @Daniel__Harvey May 17
        Replying to @Daniel__Harvey @aral

        Daniel Harvey Retweeted Araz Taeihagh

        Did I mention theft? This is just stupid.https://twitter.com/arazth/status/997125329222123522 …

        Daniel Harvey added,

        Araz Taeihagh @ArazTH
        The conclusions of the energy implications of bitcoin are insane! Link to the paper: https://www.cell.com/joule/fulltext/S2542-4351(18)30177-6?code=cell-site … @CostaSamaras @random_walker @DMReinerCamb @aral @JPNuggets pic.twitter.com/l0m6SwNZOt
        Show this thread
        0 replies 0 retweets 0 likes
      4. End of conversation
      1. Sadiq N.‏ @SaPakUsa May 17
        Replying to @aral

        https://www.bloomberg.com/view/articles/2017-12-07/bitcoin-is-greener-than-its-critics-think …

        0 replies 1 retweet 0 likes
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      1. Sadiq N.‏ @SaPakUsa May 17
        Replying to @aral

        No, it’s actually fuck the banks.

        0 replies 0 retweets 1 like
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      1. New conversation
      2. Bastiaan Ceuppens‏ @bstn_c May 17
        Replying to @aral

        Granted, if it would be done with renewable sources, it would probably not be as bad, no? Once we have reached full renewable energy, it will be a full paradigm shift.

        2 replies 0 retweets 0 likes
      3. Greg Wild‏ @GregJWild May 17
        Replying to @bstn_c @aral

        Not really... it unnecessarily drives up total energy consumption, meaning that it becomes harder to achieve full renewable energy.

        0 replies 0 retweets 1 like
      4. End of conversation
      1. Ocmmm  ⚡️‏ @ocmmm May 17
        Replying to @aral

        + bitcoin lightning network won’t make buying coffee energy hungry. You can even use bitcoin offline now. Other innovations will emerge. It may ultimately not be a good thing tho’ - this remains to be seen. But the current toxic fin system seems to get a free pass from critics.

        0 replies 0 retweets 0 likes
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      1. Ocmmm  ⚡️‏ @ocmmm May 17
        Replying to @aral

        You are quite right to have concerns/doubts about new models. But concerns (grave ones esp) ought to begin with the current system. It is ruinous.

        0 replies 0 retweets 0 likes
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      1. Ocmmm  ⚡️‏ @ocmmm May 17
        Replying to @aral

        Global debt cannot be repaid. The fractional reserve central banking model is a scam.

        0 replies 0 retweets 0 likes
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      1. Ocmmm  ⚡️‏ @ocmmm May 17
        Replying to @aral

        Plus there are sustainable electrical energy production systems available today and going forward that will never, ever, be able to deliver against existing monetary systems. We have unsustainability baked into the financial status quo. This is a key reason why bitcoin has grown.

        0 replies 0 retweets 0 likes
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      1. Ocmmm  ⚡️‏ @ocmmm May 17
        Replying to @aral

        Not necessarily. Fiat currency - with fractional reserve lending combined with usury - consumes far, far, *far* more energy than bitcoin. Consider global debt levels and then factor in interest and the ability for banks to create new money from nothing and then apply interest.

        0 replies 0 retweets 0 likes
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      1. Casual Currency‏ @casualcurrency May 17
        Replying to @aral

        This is an interesting point.

        0 replies 0 retweets 0 likes
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      1. James Kelley‏ @kelleyllc May 17
        Replying to @aral

        The whole thing could run on a single laptop. Energy projections don't take into account the energy expense limiting mining profitability.

        0 replies 0 retweets 0 likes
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