Yves Smith Truthout

yves smith discusses bitcoin's fundamental value

yves smith discusses bitcoin's fundamental value submitted by rcoronado to Bitcoin [link] [comments]

yves smith discusses bitcoin's fundamental value

yves smith discusses bitcoin's fundamental value submitted by BitcoinAllBot to BitcoinAll [link] [comments]

12-03 17:33 - 'yves smith discusses bitcoin's fundamental value' (nakedcapitalism.com) by /u/rcoronado removed from /r/Bitcoin within 1812-1822min

yves smith discusses bitcoin's fundamental value
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Author: rcoronado
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bitcoin's energy endgame

this article from yves smith spells out a pretty bleak picture of what mining is starting to do to the global energy supply.
notably:
current bitcoin mining rate of consumption is 32 terawatt hours annually - approximate to the consumption of Serbia.
As bitcoin continues to increase in value, the energy costs involved with mining will continue to increase, and this is of course by design.
In just a few months from now, at bitcoin’s current growth rate, the electricity demanded by the cryptocurrency network will start to outstrip what’s available, requiring new energy-generating plants. And with the climate conscious racing to replace fossil fuel-base plants with renewable energy sources, new stress on the grid means more facilities using dirty technologies. By July 2019, the bitcoin network will require more electricity than the entire United States currently uses. By February 2020, it will use as much electricity as the entire world does today.
This is an unsustainable trajectory. It simply can’t continue.
So, what's the roadmap out of this situation? Or is it so structurally built into the concept that we're gonna run into energy caps before we run into other stabilizing forces?
As a relative novice, it seems like lowering the energy costs would adversely affect the structure of this tech at a fundamental level - but its entirely possible i'm missing something.
submitted by rcoronado to Bitcoin [link] [comments]

[uncensored-r/Bitcoin] bitcoin's energy endgame

The following post by rcoronado is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7i5z7s
The original post's content was as follows:
this article from yves smith spells out a pretty bleak picture of what mining is starting to do to the global energy supply.
notably:
current bitcoin mining rate of consumption is 32 terawatt hours annually - approximate to the consumption of Serbia.
As bitcoin continues to increase in value, the energy costs involved with mining will continue to increase, and this is of course by design.
In just a few months from now, at bitcoin’s current growth rate, the electricity demanded by the cryptocurrency network will start to outstrip what’s available, requiring new energy-generating plants. And with the climate conscious racing to replace fossil fuel-base plants with renewable energy sources, new stress on the grid means more facilities using dirty technologies. By July 2019, the bitcoin network will require more electricity than the entire United States currently uses. By February 2020, it will use as much electricity as the entire world does today.
This is an unsustainable trajectory. It simply can’t continue.
So, what's the roadmap out of this situation? Or is it so structurally built into the concept that we're gonna run into energy caps before we run into other stabilizing forces?
As a relative novice, it seems like lowering the energy costs would adversely affect the structure of this tech at a fundamental level - but its entirely possible i'm missing something.
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

[69] Max Keiser on crypto-currencies & Dean Baker on aggregate demand Der Neue Wiesentbote - YouTube YouTube LONDON SWINGS TO GREATEST PIANO DUO EVER! - YouTube Z-Money

Yesterday, another financial analyst sang the praises of Bitcoin’s future economic value. Financial Analyst, Yves Lamoureux: $25K the End Target Yves Lamoureux, president and chief behavioral strategist of macroeconomic research firm Lamoureux & Co., wrote a piece that was featured in Yahoo Finance specifically about Bitcoin, not mentioning it in passing as part of a grander narrative. And Yves Smith argues that Bitcoin actually plays into the hands of the central bankers: ... s also provided a useful test-run of a digital system that can now be adopted universally by almost any pre-existing value system. This is important because, in the current economic climate, the introduction of a cashless society empowers central banks greatly. A cashless society, after all, not only ... By Yves Smith. Japan has just decided that Bitcoin is not a currency, which subjects it to sales and income taxes.This is consistent with the view of the Canadian Revenue Service, which has found Bitcoin to be property and not a legal currency, and the United Kingdom, which leaning towards treating Bitcoin as a voucher and subject to VAT. My Response to Randy Wray and Yves Smith of NakedCapitalism.com. My response to “ Debt-Free Money ” – A Non-Sequitur in Search of a Policy on Naked Capitalism. For some reason, it would not post on NC so I’m posting it here: Let’s look at the coat check girl analogy for a second: What happens if you give the coat check girl your coat and she hands you a ticket. But, instead of owing ... I read them and they caused my respect for Yves Smith to crash through the floor. Anyone who thinks that the project shame attack on Megan McArdle is worthy journalism has no integrity. And I use to read Gary Brecher on occasion (who I suspect is one and the same as Ames). Douglas Knight April 11, 2013 at 11:34 pm Hide Replies 20. John Dolan admits to being the War Nerd. It's possible that it ...

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[69] Max Keiser on crypto-currencies & Dean Baker on aggregate demand

youtube.com Impressum / Anbieterkennzeichnung Betreiber des Kanals ist Der Neue Wiesentbote c/o faktor i medienservice www.faktori.de Verantwortlich für diesen Kanal: Al... Z-Money "Two 16's" Feat. Valee' (Official Music Video) Shot By @Lvtrtoinne Subscribe and Follow "@Toinne_" For More Videos Follow Antoinne Bryant: Instagram:... Chaine d'information Sans Limites TV éditée par le Groupe GSL Communication, Ouest Foire Dakar ( Sénégal ) Directeur de Publication : Yankhoba SANE SERVICE C... ADAM SMITH ET LA MAIN INVISIBLE DME - Duration: 6 ... the p value and more - Duration: 12:50. Global Health with Greg Martin ... A quoi sert la science politique ? par Yves Schemeil - Duration ...

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