The rules of btc will not change and become a multiple-tier system because of your feelings. Sorry.
I provided evidence (from NY fed) to your burden of proof request.
All one can ask is to have the same rules for everyone. Equal access. No special privileges.No cantillionaires.
If you are a cantiollionaire - good for you.
If you are not a cantiollionaire, then wtf are you defending a clearly corrupt system that further drives inequality and perpetuates cronyism? Is it because you want to be the person distributing freshly printed fiat?
Assuming your well founded intentions are to make the world less inequal via the money printer, the money printer has been proven to do the exact opposite.
If you want to properly critique btc, you can argue that there is a one time cantillon effect until hyperbitcoinization. Then you can get into the discussion of what happens to the people who don't have any. You could discuss UBI or other social systems.
>Those aren't fuels - those are chemicals found in crude oil.
Methane is an organic fuel. Coal is an organic fuel.
>You don't burn crude oil in power plants.
Diesel is how small island nations in the Carribean or Hawaii get their reliable electricity. Diesel is a heavier form of crude. In case you don't believe me here is a primer: https://www.eia.gov/energyexplained/diesel-fuel/.
>That there are starving people in africa is not a valid argument for Americans to over eat, likewise the lack of cheap reliable alternatives to fossil fuels in the third world is not a reason for the developed world to also keep burning fossil fuels.
>lack of cheap reliable alternatives to fossil fuels in the third world is not a reason for the developed world to also keep burning fossil fuels.
What exactly are you saying? You are depriving the poorest billion people of electricity because of your virtue signaling?? This is inhumane.
"Over eat" - who are you to judge what form of electricity use is moral?
Who do you think gets the benefit of the freshly printed fiat?
In the central bank cantiollionaire system, there are three classes of citizens:
1) jamie dimons, warren buffets and the like who get access to practically 0 cost lending rates
2) the ~60% of citizens with assets (e.g. stonks, real estate) that get pumped along with the money printer
3) everyone else
What do you think happens to "third class" citizens?
The rules are NOT the same for everyone under the central banking system.
You imbecile. Don't straw man me. No one is talking about qualifications.
Did you elect these bureaucrats? Did you consent to whatever it is they claim to be doing? Did your parents or grandparents?
I certainly did not and neither did my family.
Unlike monarchies, WHO and the like have NO skin in the game. If monarchs f it up, it is their and their family's life on the line. In democracies there are elections.
If these idiots are wrong, there is no recourse.
You can have fun being a feudal serf on the dystopian estate of pan-global class of bureaucrats.
"You will own nothing.
And you will be happy."
-World Economic Forum
>Texas supposedly has about 30 GW of wind power capacity
>In reality solar and wind must be coupled with storage in order to act as reliable baseload generation.
The problem is there is no grid scale storage, and neither ERCOT nor any other organization I know of can will solar nor wind into production.
Please note organic fuels:
-provide parts for your computer, smart phone, router
-power your home, and office so you can use above
-keep you cool in the summer and warm in the winter
-transport you on the ground and in the air from A to B
-power the agricultural sector so you don't have to grow all your own food
Unlike you, there are a billion people+ on Earth who do not have access to cheap, and reliable energy.
>Bitcoin network only processes a small fraction of the number of transactions per day that Visa processes
Btc is not replacing visa. Btc is replacing central banks. The appropriate comparison here is what is the energy cost of the banking infrastructure of the incumbent system.
>Environmental concerns aside
I am concerned that you are using electricity to power your computer, access the internet, and comment on HN. Are you the arbiter of "moral" energy use? Am I? Slippery slope, and an anti-human one at that.
>Energy prices are notoriously volatile; hence Bitcoin's value will also be volatile.
This is not how it works. There is an argument to be made for risk of on-grid miners sudden increase of electricity prices in the case of a power shortage. Miners don't like this type of risk, so they choose to locate at places with abundant supplies and stables prices of electricity. Miners sign long-term electricity agreements. Risk to off grid miners is another level removed from on grid miners.
>will eventually be abandoned entirely.
According to how you feel? All signs point otherwise.
>the technical objections to Bitcoin outweigh the economic objections
You are free to make your own fork, BIP, or new "crypto" and compete. Good luck. By the way, there are 7999 "crypto" coins competing and losing so far.
>Or maybe it comes from people who have read an Econo101 textbook and who have spent a lot of time trying to explain a crowd of Bitcoin enthusiasts why their reasoning is wrong
The market decides. Not an economics "expert", nor fitting btc to an arbitrary theoretical definition of money.
>It seems that tech has enabled a grand new theory about money to be implemented.
Are you aware of the Austrian school of economics?
>There’s a bizarre religiousity and post hoc rationalizations for some of the weirdest decisions in its design, and mistaking speculative mania and nominal price for success
This is a feature, not a bug. It is very difficult to change the protocol. We have a 100% certain monetary policy.
I agree with you that perception of what btc is and isn't changes with time.
If you have a proposal, you are free to create and propose a BIP, or fork off.
I provided evidence (from NY fed) to your burden of proof request.
All one can ask is to have the same rules for everyone. Equal access. No special privileges.No cantillionaires.
If you are a cantiollionaire - good for you.
If you are not a cantiollionaire, then wtf are you defending a clearly corrupt system that further drives inequality and perpetuates cronyism? Is it because you want to be the person distributing freshly printed fiat?
Assuming your well founded intentions are to make the world less inequal via the money printer, the money printer has been proven to do the exact opposite.
If you want to properly critique btc, you can argue that there is a one time cantillon effect until hyperbitcoinization. Then you can get into the discussion of what happens to the people who don't have any. You could discuss UBI or other social systems.