This is false Bitcoin is not "backed by energy" in the sense that other currencies are backed by gold You cannot take your Bitcoin and trade it back for energy -- a BTC does not entitle you to the megawatt-hours of the ton of coal it took to mine it It entitles you to nothing
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Replying to @arthur_affect @BitcoinBiology and
This is why Bitcoin is pernicious, it's a meaningless token with *no underlying value* and *no legal rights or guarantees bestowed on the holder* And it does not *store* energy or *contain* energy the way ridiculous statements like this imply it does It simply *uses* energy
4 replies 9 retweets 86 likes -
Replying to @arthur_affect @BitcoinBiology and
Every new Bitcoin mined and every Bitcoin transaction *burns up stored physical energy* that is irretrievably lost and can never be used again as a result Second Law of Thermodynamics, Mr. Scientist -- all it does is rapidly increase the entropy of the system
1 reply 3 retweets 31 likes -
Replying to @arthur_affect @Tom_Scribbler and
₿itcoin ₿iohazard, protocol supremacist 🧬 🔬 ☣️ 🐝 🔑 Retweeted Jack Mallers
What percentage of Bitcoin mining is renewable energy? Find and industry that has a higher percentage. Speaking of entropy, have you found out how to safely and securely send $1M overseas? If you have, you may say these are problems of the rich. Until L2https://twitter.com/JackMallers/status/1346866335536582656 …
₿itcoin ₿iohazard, protocol supremacist 🧬 🔬 ☣️ 🐝 🔑 added,
0:59Jack Mallers @JackMallersI just published Announcing Strike Global. Today, the world changes; the fundamentals of value exchange between our species enters a new epoch. Send money anywhere, at any time, in seconds, and at no cost

http://global.strike.me
https://link.medium.com/sjGTCBNyPcb pic.twitter.com/oDA13npo3MShow this thread3 replies 1 retweet 0 likes -
Replying to @BitcoinBiology @Tom_Scribbler and
Right, nobody could safely and securely send money overseas before Bitcoin, international transactions of any kind were a terrifying gamble until 2017 or so Dear God listen to yourself
3 replies 1 retweet 31 likes -
Replying to @arthur_affect @BitcoinBiology and
It's more about being able to send money w/o using a custodian or third party. The cost to transport gold is far far higher. Fiat can be clawed back or amended centrally. Missing the point of how and why bitcoin is cheaper.
1 reply 0 retweets 2 likes -
Replying to @stephanlivera @BitcoinBiology and
I am, because it is, in fact, not cheaper
1 reply 1 retweet 17 likes -
Replying to @arthur_affect @stephanlivera and
Very few people in a position to send or receive $1 million share your hilarious paranoia about the government seizing it from you, and the ones for whom that paranoia is justified and Bitcoin has a genuine use case are not people who have my sympathy
3 replies 1 retweet 25 likes -
Replying to @arthur_affect @stephanlivera and
For people who are *not* transferring large amounts of cash directly linked to criminal activities, the risk of direct governmental action against you is not nearly high enough to justify the quite *enormous* transaction fees associated with transferring Bitcoin
2 replies 1 retweet 17 likes -
Replying to @arthur_affect @stephanlivera and
Which are a Randian nightmare the way everything else about Bitcoin is I cannot emphasize how hilariously dystopian it is that rather than a fixed transaction fee you negotiate with a *gasp* centralized middleman institution, Bitcoin fees are a fucking *auction*
1 reply 2 retweets 14 likes
Having to *compete* with everyone else trying to get their transaction completed in a reasonable amount of time to *bribe* miners to process your block first Uber surge pricing, but for *being able to transfer money at all* An idea only a true libertarian could love
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