Comments by "" (@diadetediotedio6918) on "I thought Bitcoin was bad for the environment. Now I'm not so sure." video.

  1. > *Mining bitcoin does not create wealth, just as money printing does not. It merely redistributes existing wealth. This is true. > *Society does not benefit from bitcoin mining (only the miners do). That's why the energy is wasted, even if it is green or unused. This is blatantly false, you should read the whitepaper and familiarize yourself with how the technollogy works and what it is aiming to solve before saying something like this. It absolutely does have a social benefit. > *Imagine a democracy where you need to dig holes and fill them up to be able to vote. Do you see the nonsense? People work, but the work is unnecessary! The nonsense is the democracy yourself, but I would argue your democracy idea would be WAY better than what we currently have, before people would need to actually put their effort where their mouth is, populism by itself would not solve it. > *If proof of work has to be used, let's do work that is beneficial, like training AI, not finding big numbers! Again, this is ignorance.
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  2. The bitcoin need is other, this is just a plus.
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  3. ^ This is what we get when someone with ZERO knowledge on economics and cryptoanarchism says someone about cryptocurrencies.
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  4. This is called "you don't live in a country with a destroyed economy nor in a dictatorship", it is expected for you to see less or no value in crypto.
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  5. Your argument is good, but this is not a broken window fallacy because bitcoin ALSO provides value in economic and societal sense, so people are not talking about a waste producing more economic prosperity, rather, they are saying the needs caused by this economical resource (per se) are also a factor driving inovation.
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  6.  @zwerko  1. The internet at a global level is as governamental as it is private, there is no internet without private work in this sense, and the differentiation is just that governments force their way into internet control (i.e. they are not needed in the process). The same goes for local eletricity grids and etc. 2. Cryptos can constitute the economy itself (as they do in many poor countries), so this is just bs.
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  7.  @b.s.7693  Yeah, there is, surviving in dictatorships and socialist countries with destroyed economies, this is the "special purpose".
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  8.  @kekburloller  Again, you can eat your own ignorance and feed to others, it does not make you right.
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  9.  @zwerko  Except that it indeed has a real value, so your point is flawed.
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  10. TRUE, like when dictatorships censor people and they are able to talk thanks to these nasty cryptocurrencies.
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  11. ​ @Castle3179  This is "false", because having more work does not necessarily equals to having more money in PoW. The work only increases the likelihood of finding a valid hash, it could still go to the random miner with less money (as it often does, many of the bitcoins mined are in pools that in turn only work because a bunch of random people are working together and distributing the power).
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  12. ​ @Reashu  1. It is true, but the cost of bitcoin is not linear relative to the number of users, it is fixed and can expand to more users without significatively increasing the cost. It is also less of a problem for other currencies like Monero. 2. No, it does not need ATM's.
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  13.  @robertvanruyssevelt7159  This is just called "being ignorant". Read the whitepaper and you will see the justification.
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  14.  @gavinjenkins899  But there are counterarguments to PoS tho, like the fact that it is easier for a wealthy badly intentioned agent to take over and rewrite the blockchain history than with PoW.
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  15. ​ @therealjezzyc6209  This is a bad take. Firstly because there is not an official number of bitcoin uses that use it for payments, what do you expect him to bring here? People already use it for that matter. It is also used by people in poor countries with destroyed economies by socialism like venezuela. And second, because a decade is not a good measure of "enough time" for a thing that was organically spread into existence, there is not a formal timespan for how a technollogy should be adopted.
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  16. This is one of dumbest things I have ever read
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  17. ​ @Mike-Snoducky  Yeah, like the criminals on dictatorships who are trying to gain some freedom, that's why it is good.
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  18. ​ @Martcapt  Except the value bitcoin and cryptos provide is not related to the mining process, it comes from what it represents and what it enables.
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