OT: Investing/Stocks/Bonds/Mutual Funds/Crypto

[ReasonablySober]

There is absolutely no way in which crypto is good for the world.

Spoken like a true boomer.

Yea, because boomers are notoriously concerned with carbon footprints.

[Lippo]

There is absolutely no way in which crypto is good for the world.

Spoken like a true boomer.

Yea, because boomers are notoriously concerned with carbon footprints.

Decentralizing is good, cut of all the middle men and automate as much as possible.reduce fraud.. sounds good to me.... will sucks for bankers and investing companies...

https://www.nasdaq.com/articles/10-ways-cryptocurrency-will-make-the-world-a-better-place-2018-01-16

[emunney]

There is absolutely no way in which crypto is good for the world.

I guess I don't know enough about the actual reasons in favor of it, but the energy costs are **** crazy.

[emunney]

If we had surplus clean energy production it would be "fine", particularly for black markets.

[thonnisbeastley]

There is absolutely no way in which crypto is good for the world.

Spoken like a true boomer.

Yea, because boomers are notoriously concerned with carbon footprints.

Yea, because bitcoin mining encompasses the entire crypto space and all of it's use cases.

[emunney]

Spoken like a true boomer.

Yea, because boomers are notoriously concerned with carbon footprints.

Yea, because bitcoin mining encompasses the entire crypto space and all of it's use cases.

Doesn't *everything* on the blockchain require processing power to create the identifiers for blocks?

[thonnisbeastley]

Yea, because boomers are notoriously concerned with carbon footprints.

Yea, because bitcoin mining encompasses the entire crypto space and all of it's use cases.

Doesn't *everything* on the blockchain require processing power to create the identifiers for blocks?

Well yeah, pretty much everything connected to the internet requires processing power. Bitcoin mining is a completely separate issue.

[emunney]

Yea, because bitcoin mining encompasses the entire crypto space and all of it's use cases.

Doesn't *everything* on the blockchain require processing power to create the identifiers for blocks?

Well yeah, pretty much everything connected to the internet requires processing power. Bitcoin mining is a completely separate issue.

Well, I'd love a more detailed explanation if you'd care to give it.

[MickeyDavis]

Doesn't *everything* on the blockchain require processing power to create the identifiers for blocks?

Well yeah, pretty much everything connected to the internet requires processing power. Bitcoin mining is a completely separate issue.

Well, I'd love a more detailed explanation if you'd care to give it.

Here's one article

https://techcrunch.com/2021/03/21/the-debate-about-cryptocurrency-and-energy-consumption/#:~:text=According%20to%20the%20University%20of,0.6%25%20of%20global%20electricity%20consumption.

[thonnisbeastley]

Doesn't *everything* on the blockchain require processing power to create the identifiers for blocks?

Well yeah, pretty much everything connected to the internet requires processing power. Bitcoin mining is a completely separate issue.

Well, I'd love a more detailed explanation if you'd care to give it.

I mean, I guess by that logic all major companies like apple, youtube, google, facebook, yahoo should be shut down because of the processing power they use to power their services. We should stop innovation of, production of and shut down TVs, Computers, Video Games, Streaming services, Music Apps, etc because they use more processing power than their predecessors. All new software/hardware/technology should cease to exist. Blockchain is software, interconnected, and as it becomes more decentralized will use less processing power over time. Bitcoin mining is setting up warehouses of insanely powerful hardware that use huge amounts of energy for the sole purpose of earning a few bitcoin.

[Siefer]

Spoken like a true boomer.

Yea, because boomers are notoriously concerned with carbon footprints.

Yea, because bitcoin mining encompasses the entire crypto space and all of it's use cases.

Greetingz fellow Zoomer youth! I surely am with you. These boomer-types are so not with it. Of course they wouldn't appreciate the beautiful economic power of le cryptos. Like, how not slap can you get? The boomer above us might argue you didn't understand his sarcasm at all, but that's just Mr. b00m b00m being one foot in the grave. This boomer, is so not with it, he might even tell us he's not a "b-o-o-m-e-r", but we know better. Silly boomerz.

[thonnisbeastley]

Yea, because boomers are notoriously concerned with carbon footprints.

Yea, because bitcoin mining encompasses the entire crypto space and all of it's use cases.

Greetingz fellow Zoomer youth! I surely am with you. These boomer-types are so not with it. Of course they wouldn't appreciate the beautiful economic power of le cryptos. Like, how not slap can you get? The boomer above us might argue you didn't understand his sarcasm at all, but that's just Mr. b00m b00m being one foot in the grave. This boomer, is so not with it, he might even tell us he's not a "b-o-o-m-e-r", but we know better. Silly boomerz.

Guess I should have typed in green font, because you clearly didn't understand the sarcasm I replied to his sarcasm with. This must have been a time consuming thing for you to type, hope the little laugh to yourself as you submitted it was worth it! Embarrassing..

[Siefer]

Yea, because bitcoin mining encompasses the entire crypto space and all of it's use cases.

Greetingz fellow Zoomer youth! I surely am with you. These boomer-types are so not with it. Of course they wouldn't appreciate the beautiful economic power of le cryptos. Like, how not slap can you get? The boomer above us might argue you didn't understand his sarcasm at all, but that's just Mr. b00m b00m being one foot in the grave. This boomer, is so not with it, he might even tell us he's not a "b-o-o-m-e-r", but we know better. Silly boomerz.

Guess I should have typed in green font, because you clearly didn't understand the sarcasm I replied to his sarcasm with. This must have been a time consuming thing for you to type, hope the little laugh to yourself as you submitted it was worth it! Embarrassing..

eye roll emoji

[crkone]

Greetingz fellow Zoomer youth! I surely am with you. These boomer-types are so not with it. Of course they wouldn't appreciate the beautiful economic power of le cryptos. Like, how not slap can you get? The boomer above us might argue you didn't understand his sarcasm at all, but that's just Mr. b00m b00m being one foot in the grave. This boomer, is so not with it, he might even tell us he's not a "b-o-o-m-e-r", but we know better. Silly boomerz.

Guess I should have typed in green font, because you clearly didn't understand the sarcasm I replied to his sarcasm with. This must have been a time consuming thing for you to type, hope the little laugh to yourself as you submitted it was worth it! Embarrassing..

eye roll emoji

[emunney]

Well yeah, pretty much everything connected to the internet requires processing power. Bitcoin mining is a completely separate issue.

Well, I'd love a more detailed explanation if you'd care to give it.

I mean, I guess by that logic all major companies like apple, youtube, google, facebook, yahoo should be shut down because of the processing power they use to power their services. We should stop innovation of, production of and shut down TVs, Computers, Video Games, Streaming services, Music Apps, etc because they use more processing power than their predecessors. All new software/hardware/technology should cease to exist. Blockchain is software, interconnected, and as it becomes more decentralized will use less processing power over time. Bitcoin mining is setting up warehouses of insanely powerful hardware that use huge amounts of energy for the sole purpose of earning a few bitcoin.

I don't really see the type of detail in here I'm looking for, so I'll look somewhere else. And we probably should be throttling energy use of all kinds until we can upgrade the grid and produce electricity much more cleanly at scale.

I wonder how much of bitcoin mining is those warehouses vs. how much is just individuals setting up clusters of cheap machines. At any rate it doesn't seem like bitcoin is going away, it's axiomatically unable to be regulated directly, and it's a serious problem.

[Worm Guts]

Bitcoin mining is obviously bad for the environment and a poor use of energy resources. I don’t know how other cryptos compare. I’d be interested to find out.

[Young Dude]

Maybe find out a bit about all the consensus mechanisms (of which there are A LOT) before concluding that crypto wastes energy. Ripple XRP for example requires 0 mining.

[Lippo]

Ug, chainlink down 25% in 24 hrs, ug, 60k loss ... roller coaster...

[Lippo]

And back up 10% in 10 min, whales were creating a better buy in price for buddies...and taking some profits, reinvesting and increasing their stacks...

[MickeyDavis]

I added some Chain on the dip this morning, it's up about 7% since then.