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man bitcoin really is out there using up the equivalent of a small country's worth of electricity so libertarians can invest in chuck e cheese tickets for drugs huh

@uncletrunks im not sure whats so bad about fiat currency that we have to consume terrawatts of electricity making mathematical gold to replace it

@mcknze i mean it's still less bad than what the equivalent people did when it was actual gold, so it's got that going for it i guess

@uncletrunks aluminum smelting is an incredibly energy intensive industrial process that consumes on the same order of electrical energy as bitcoin mining (a few % of the world total) but at the end you get aluminum, an incredibly useful structural material

@uncletrunks @mcknze i have terrible news for you about one of the materials used in making computers! (granted, the usefulness-per-gram ratio is much better for gold plating than it is for gold bullions)

@mcknze @uncletrunks the status quo is a fiat financialization economy that is supremely effective at decimating the lower and middle class and the environment. hard money outside of current banks lessens this to some degree. also, mining tends towards renewable energy consumption as miners chase after ever-cheaper ways to produce energy. building that infrastructure may expand into other green use as well.

@mcknze @uncletrunks there's quite a few things wrong with fiat currency, but there's as many if not more things wrong with its replacements as well ("cashless society" has the potential to exclude entire swathes of the population from the economy altogether), and there's definitely a lot wrong with building our alternative to fiat currency around wasting energy in cracking double SHA-256 hashes.

@uncletrunks

it's mainly so guys who want people to think they are serious investors can sell pretend digital money to each other at a markup until they can say "i'm worth eleventy billion dollars.. in bitcoin."

@Nikolai_Kingsley @uncletrunks but since there’s no regulation, there’s nothing you can do if the “bank” won’t give you your “money”

@uncletrunks @DavidBlue to be fair, a drug backed currency does seem like it has some merit over fiat currency

@uncletrunks @DavidBlue it would probably be better if it was fixed to some standard like 1 bitcoin = 1 8ball of coke

@zensaiyuki @uncletrunks that’s a brilliant idea! far superior to the metric standard, I think.

@uncletrunks some people just really, really, really fucking love their drugs man. And guns and shit.

@uncletrunks How about ending that there drug war then?

Like when Vice tries to run a story about molly killing the trees.... it's absolutely not... untrained unregulated teenage criminal chemists improperly disposing of waste chemicals is. Shocking thought, they'd mostly stop that if the drugs were legal and regulated.

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