Is the BTC drop stabilizing already? I’m so bummed. I thought I was going to witness something hilarious.
I just really don’t care about Bitcoin as a speculative vehicle. I care about its capacity for borderless, anonymous transactions.
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So I wouldn’t call myself a total Bitcoin skeptic, but I still think these price drops are funny, as opposed to tragic
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@sarahjeong I'm always fascinated by disasters and Bitcoin price drops are disasters I know aren't going to kill anyone. -
@binarybits exactly! I can rubberneck without feeling guilty about someone’s pension or whatever.
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@sarahjeong It seems like it’s a way to replace credit-card and wire transfer stuff. -
@GlennF Yeah, I think the family of technologies is very promising and interesting, but obv lots of problems -
@sarahjeong To me, the financial incentive didn’t align with the computational power created (and still growing). -
@GlennF Some of the mining rigs were explicitly designed to pay off the investment in a few months? -
@GlennF I think financially it did line up for a bit, until the proof of work difficulty got so enormous that it’s just silly now -
@sarahjeong Proof of work has to taper. Difficulty could reverse (has before) as people exit. -
@GlennF Yes. But not clear that it will go back to a point where mining makes sense. -
@sarahjeong Yeah. In my Economist piece, I argue it’s approaching marginal. it’ll be data centers and cheap power. No individauls. - 6 réponses de plus
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