Comments by "" (@badluck5647) on "Why Ben McKenzie Thinks Celebrities Promoting Crypto Is Immoral | WSJ Tech News Briefing" video.

When economists and journalists warns us against cryptocurrency, few listen. When Jim Gordon warns us, we take notice. Society is dumb.
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@wavyremix Gold and silver have intringent value due to their use it manufacturing of multiple products. Cryptocurrencies' intringent value is zero.
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@wavyremix It’s estimated that Bitcoin consumes electricity at an annualized rate of 127 terawatt-hours (TWh). That usage exceeds the entire annual electricity consumption of Norway. Imagine the value these resources could add to the global economy if they weren't wasted on a speculative bubble.
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 @wavyremix Any currency that no one spends is useless as a currency.
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@wavyremix Because nothing is 100% efficient, then we should burn enough coal to power a country for a year on something that adds nothing of value to the global economy? What a dumb argument.
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@wavyremix The US dollar's value is due to it being a stable means of exchange with a guaranteed demand as long as the US government requires people to pay their taxes in dollars. Meanwhile, Bitcoin is useless as a means of exchange as it is slow at transactions, requires a lot of energy, and the value fluctuates wildly. Instead of having at least some demand created by a government, Bitcoin value can drop to zero onces the speculation bubble pops. The US dollar also doesn't require a county's worth of energy to create and preform transactions. Bitcoins are a less efficient alternative. Google autocorrects into whatever it wants to
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@Trust_but_Verify Be honest. Do you think people are listening to him because he has an economic degree or because he was on tv?
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