this post was submitted on 03 Feb 2024
397 points (94.8% liked)

Technology

59448 readers
3724 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
397
Over 2 percent of the US’s electricity generation now goes to bitcoin (arstechnica.com)
submitted 9 months ago by [email protected] to c/[email protected]
161 comments fedilink hide all child comments
 

Over 2 percent of the US’s electricity generation now goes to bitcoin::US government tracking the energy implications of booming bitcoin mining in US.

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 1 points 9 months ago* (last edited 9 months ago) (1 children)

I'm not saying it doesn't impact the price, I'm saying it doesn't matter. Bitcoin's current price looks like a steal to me if it's going to be the underlying currency for the global economy.

All currency is speculated on. The market finds the right price. Then it corrects. The price goes up and down. That's how markets work. The USD is guaranteed to lose value and buying power over time due to an inflationary supply. That's not even throwing in the US's declining role as a global currency hegemon and the reduced demand it causes.

Bitcoin? It could go up or down relative to other currencies or goods, but my portion of the supply relative to the whole will always be the same. That's why I buy bitcoin.