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No, you're missing my whole point. There literally isn't a big desire for people to spend their crypto. All the payment processing in the world from any wallet isn't going to change that. People go through multiple steps just to get their crypto in the first place. if they wanted to spend it, they would skip buying it and spend fiat. THE REAL hurdle is getting people paid in crypto. If someone comes along and figures out a way to convince mom and pops, corporations, big and small businesses to PAY THEIR employees in crypto, THEN, and ONLY THEN will the desire for pay rails be needed. Until then, you can get a ton of adoption but very, very FEW people will use it. I am an AMP holder, and I think their tech is great, but the real problem comes from the other end of the puzzle. It's not the payment that needs fixing, it's the obtaining crypto part that needs to be fixed.
Just not true. Subscription Level 1 : You PAY 1.5 % plus another small fee on every card transaction. Then you get the “3%” cash back. Except that’s capped - as you say - at 7.50 per month. So if you spend over €500 per month …. YOU OWE THEM MONEY.
Because when you have more energy being produced than consumed, you HAVE to get rid of the excess energy, either by shutting off the most easily cuttable power source, selling it at a loss of efficiency to neighboring areas, sometimes having to PAY them to take that energy, or you can increase energy consumption by mining bitcoin. Prior to bitcoin, the primary way to increase energy consumption has been aluminum smelting, which produces carbon and completely destroys the reduced carbon output of renewables, and also becomes unprofitable and leaves an incredibly environmentally damaging defunct factory in its place.
>Not to mention all under 18’s and people without credits cards would be driven off. It's a 1 off payment.... Look at the "woke" culture on Twitter and the penetration of Twitter into the public conciousness.... How many times do we see Twitter as a fuckin "source" used in "news".... Shit is a joke! People are WAAAAYYYYY to invested in Twitter, it's ENTERTAINMENT and that's the key thing that I think Musk has clearly seen and sees a pathway to commercial viability because of it! How's that cable TV going.... So great you pay for it and it's ad free, right? How's that streaming services going.... Do great you pay for it and it's ad free, right? (Not much longer Netflix) People PAY for ENTERTAINMENT! And Twitter is a fuckin Colosseum! Sure, people might be turned off initially by the $2 entrance fee to the sideshow.... But those same people are ALREADY addicted to that crack! It's like all these fools saying they will "leave" Twitter because Musk bought it, they are as bad as all the right leaning nut jobs that got kicked.... They all been whinging and crying wanting back to get that sweet, sweet crack fix of being the entertainment and getting all the validation from everyone else interacting with them (both positively and negatively). So, the $2 might create an initial speed bumb but I'd be willing to bet that crackheads be crackheads and they be back. Once it's accepted, anyone new will just join because 99% of humans a herd animals.... As for no credit card..... LOLZ, your literally talking about the guy implementing this that drops doge memes! The younger generations are uptaking crypto at a FAR greater rate then those 30 and above, my partner teaches lower primary kids and she says it's regular to hear kids in grade 5 talking about crypto and having money in projects! Credit cards..... as a barrier of entry.... LOLZ
Hur dur all electricity use = bad. Yea I'm sure in the future we are going to LESS energy not more, bc....ugh reasons. I would like to ask, you do realize that most 'green energy' is not even close to commercially viable YET. That for the past 25 years the issue isn't gov regulation or political will its the 20% premium on 'green energy' vs nuclear. So far, almost ZERO industries have choosen to PAY MORE - none can afford it (hint bc they are so inefficient in their energy consumption that even a slight increase eats into profits) Yet we have seen btc mining revitalized towns in places like Nigeria Falls? A place that has mounts of green energy (which is slightly more expensive) - why was not other industry moving up there? The answer is btc's use of energy IS efficient. No other industry in the world turns electricity into money more directly. Btc miners are the only ones willing to pay the green premium - they are literally the ones making the green revolution economically viable.
[McGill microwave](https://www.mcgillmicrowave.com/) I bought an aerial and some cable from this website, on the checkout they have crypto.com PAY button alongside the normal visa, MasterCard options… I clicked it and it pops up the cdc app and you can choose which crypto you want to pay with in your cdc wallet It was so slick and seemless… I didn’t actually want to pay with crypto but I did just to test it out … used CRO to pay and got 2.5% cashback too. Because I’m obsidian I would have been better off using my cdc Visa card and getting 8% though! I guess this is the problem for most cdc users… unless your Ruby, there is no point using your crypto as you’ll get more cashback using your cdc fiat Visa card!
yeah it's fucking ridic. and 95% won't net you shit for returns unless they're in the altcoin trenches to know what's up and coming...but moreso KNOW what whales and bots are doing , in order to catch exchage pumps. that's all pretty much what gets alts going...bitcoin is whales, so are alts but all with different timing plays and cycles. not to mention so many coin dev/projects PAY to have their shit shilled, it's funny.
u are delusional. ppl are willing to PAY to be able to play some mmrpgs. if they would be getting paid in return then that currency would be absolutely worthless due to inflation and milions and milions of players having it. idk how did u come up with this genius idea
So you need to give them no other option but TO PAY ONLY with crypto. NO FIAT. Problem solved. It's not like the government can outlaw the economic growth if enough of us business owners went on strike at the same time to prove a point.
Actually its not. The dude has absolutely no idea what he's talking about. You do NOT mine Bitcoin with Nicehash. AT ALL. You mine Ethereum (or whichever is the highest current profit coin) and they PAY you in Bitcoin. You will absolutely NEVER mine bitcoin with a GPU. Its literally impossible. Also, Nicehash is really really bad.
>they can patch damage numbers and stuff server side. You can own a skin and gun but if it's bugged you don't think a server side patch would work? Just to say this again. If they can just change the function of things whitch the NFT refers too.... What's the point of it being an **N**on-**FUNGIBLE T**oken... >You can easily get rid of it. The point is the accessibility and open market. The open market. The NFT market on a blockchain. In which you will have to do work (**AKA PAY FOR, MINT/GAS FEES**) to get bugs fixed.
Ask them if they use a clothes dryer. Or hang up Christmas lights. Both use more power than bitcoin mining globally. If they say at least clothes dryers have a purpose, ask them what tv shows they watch and then tell them you think thats pointless so for the good of the planet they should stop watchjng and dump their tv. Then tell them that if you don't give a shit about what they use their energy THAT THEY PAY FOR that they shouldn't give a shit how you use your energy that *you* pay for
Turbo Tax lobbiest spend MILLIONS to make free tax filing impossible for Americans - here in my country i log onto the gov website and go CLICK CLICK CLICK CLICK done. In America people have to go CLICK CLICK CLICK CLICK CLICK PAY OUT THE ASS done.
That day will never come. There's already amazing NFT projects with use cases and foundation / donation programs. The problem is that doesn't make good news. A digital concert ticket is a dull story. A monkey Picture selling for thousands get people going. "OMG WHO WOULD PAY FOR SUCH A THING CRYPTO IS SOOO DUMB" The problem isn't the state of the NFT market but the state of news coverage. They'd much rather cover a scam because digital asset ownership is a boring topic for 99% of people.
I don't need to look much farther than your attempt at marketing lingo to understand that you're fudding superior cold storage in favour of a historically terrible exchange. It's not even up for debate lol. It tells me you have an affiliation with Coinbase, a bad case of stockholm syndrome, or you don't have a clue wtf you are talking about. If it is the latter then I am sorry for being so blunt with you, but this is a dangerously stupid post for people reading here. Especially anyone new. If you're too stupid and careless to own your own keys then I guess you'll be stupid enough to have someone hold them for you, easy money for them. What's better is you have to PAY Coinbase for something that should be offered as standard by your government, this is fucking hilarious, I love it. A fool and his money will always be parted. The qualifying points are very interesting and totally not easy to move the goalposts on. I put money on us seeing threads in 6+ months time or next bullrun where people can't access their funds because of some arbitrary ruling Coinbase decides on. This insurance does not act like FDIC/FSCS (whatever regulator) insurance whereby if Coinbase becomes insolvent or files for bankruptcy, you will lose everything. Also, by the time you can figure out the US is collapsing, you won't have any internet anyway so good luck getting magic funny money out of Coinbase then lol. You're better off buying metals and stockpiling cash for that before theres a run on the banks. This is as bad as the Crypto.com drones bleeting about their insurance. Some of you are going to get burned so fucking bad. I'm just glad there are many others in this thread that see reason. Why the fuck are you trusting Coinbase with anything???
I'm going to paraphrase what you wrote here: "I would rather borrow bitcoin at a 2% interest rate rather than fiat at an 8% interest rate." If bitcoin doubles in value compared to fiat in a year (it has) then instead of paying a 2% interest rate you will owe a 102% interest rate. That will be scary. NEVER BORROW BITCOIN WITH THE REQUIREMENT TO PAY IT BACK.
So it doesn’t solve the main issue here, but the most helpful thing I’ve found to do is “PAY YOUR SELF FIRST!” My monthly investment from My pay cheque is THE most important thing I pay each month! As it’s going to pay ME in the future, and if it’s not there, I’ve got to work more of my life away! So in turn, I invest FIRST, not what I have left each month, I’ll make do through the month and plan accordingly, if something/someone has to wait a few extra weeks to get paid, so be it. My future is more important than them!
$100 million is pretty far from the average joe… the point is that billionaires DONT LOSE MONEY and DONT PAY TAXES. Keep making excuses for the rich that eat up the other 99.99%; our situation will just get worse and we’ll still be run by private interests rather than the people.
And then rich people move and take their money with them and go be rich somewhere else. You just dont get it. RICH PEOPLE DONT PAY TAXES. They think all these billionaires are just going to give up their wealth now.... they have been cheating the system from the dawn of time and you think now it will change 😭😭😭😭😭😭? They will hide it in off shore accounts buy up relestate with it. Literally endless options for them and now we have crypto to launder money now....
You actually might want to take a high school economics class or maybe just Google/YouTube “the law of supply and demand.” Prices aren’t determined by what the exchange is willing to sell bitcoin for. They are actually determined by two groups of people; one deciding how much of something they want to sell and at what price, and the other deciding how much they want to buy and at what price. Assuming markets are efficient, the two sides will agree on a fair value so that both sides are equally happy. So let’s say the sellers really want $58K for their bitcoin but there are so many sellers and only one buyer, well the one buyer only wants 3 bitcoins and there’s 1,492 available to buy. The buyer is going to have a lot of power to negotiate a cheaper deal and in this case the price will fall. In the opposite scenario the sellers want $58K for their bitcoin but there are so many buyers that there just aren’t enough bitcoin to go around. So the sellers smartly ask how much the buyers are willing to pay and one of the buyers shouts I WILL PAY $10 MILLION DOLLARS for one bitcoin, because he needs one really bad. So the buyers and sellers agree that the fair price in this situation is actually higher than $58K so the price goes up. Well this type of relationship between buyers and sellers is happening 24/7 in bitcoin. But not only are there people who want bitcoins and those who need to sell bitcoins, there are also arbitrage traders. Arbitrage traders try to make money by buying from cheaply priced exchanges where lots of sellers are and move those coins to highly priced exchanges where lots of buyers are. This roughly ensures all exchanges have the same price and that no exchange runs out of bitcoins.
Look, this shit really isn't that complicated. You are taxed on GAINS, which is why it's called the capital GAINS tax. If you make $1000 after taxes from work, that money has already been taxed. If you buy crypto and then sell it for $1500, you don't pay taxes on that $1500 - THAT would be doubly taxed. You ONLY pay taxes on the $500 you made in GAINS. YOU DON'T PAY TAXES ON THE FIRST $1000 BECAUSE YOU'VE ALREADY PAID TAXES ON IT.
Yes yes and yes. The "woke" liberal western world is full of snakes under the guide of righteousness. USA government are thieves. Canadian government are fascists. Their state media are just that: state media, propaganda machines and in Canada we PAY for this with tax dollars without any say. Both countries proved this with countless actions, most lately seizing and freezing bank accounts, freezing reserves, weaponized banking. All are synonyms for stealing. Writing is on the wall with USD/CAD and all western fiat currencies. I suspect the ruble is a better bet, but I'll stick with crypto. It does makes me think I should be 100% in crypto instead of 50%, but I think I got the 90% Bitcoin (of my cryptos) part right, and 5% precious metals in case of absolute deterioration is probably prudent (even though I'm a bit tempted to get more Bitcoin with it).
**How to start building your investment portfolio ****** 1. **Define Your Investment Objective** You have the best chance of reaching your goal if you know where you are going. Your goal might be to have enough money to retire on a tropical island and provide for your granchild's education. Once you have a goal in mind, it will help you determine how much time you have to invest. Once you have your time-horizon, you will know what what risk you can take. 2.**Establish How Much You Can Pur Away Each Month** We all know the golden rule, PAY YOURSELF FIRST. To take your finances seriously, you have to prioritise saving and investing. Try aim to invest 15-20% of your income every month.👌 3. **Decide What Assets To Buy** If your time-horizon is less than 5 years, then your money shouldn't be in the crypto market. Consider other assets like bonds or cash. 4. **Get Started** It might be a good idea for new investors or investors who don't have enough time to research to start off with ETFs. There are many low cost investing platforms out there. Always make sure you have a look at the best platform for you before juming in.📚 Remember, good plans are worthless without opportunity🎯
Yo! For everybody saying you can't add your bank and you have to do a wire transfer yada yada. you are doing it wrong. You CAN add your bank and buy crypto just like on coinbase or anywhere else. Instead of click on FUNDING at the top if you are on a pc click on BUY CRYPTO. If you are using the mobile app just click the arrows bottom right of the app. Click BUY CRYPTO WITH CASH. Select a cryptocurrency. When the next page comes up, where you put in the amount, underneath, select PAY WITH. Add your bank there.
Typically about 4 years. I have immense knowledge of this subject. And it doesn't matter how "long" it takes for the state to steal the property you supposedly had bought and "own." Why does the length of time matter? If you DO NOT PAY you will have your property stolen. If you buy something -- but you have to pay for it forever no matter what and pay even more as its value rises -- then you do not own the property. **Therefore nobody actually owns property in the United States.** The idea of property ownership in the United States is a complete myth. It simply does not exist.
STOP TRADING AND START INVESTING. ALONG WITH THERAPY THIS WILL WORK. REPEAT: STOP TRADING. COMMIT TO WEEKLY BUYS. SPEND 20% OF YOUR TAKE HOME PAY PER MONTH ON WEEKLY BUYS. CREATE A BALANCED CRYTO PORTFOLIO. DON’T LOOK AT EVERYDAY. THINK OF IT AS A RETIREMENT ACCOUNT. YOU WILL BE RICH AS FUCK IN 10 YEARS. Now stop trading. Seriously stop the bullshit.
Crypto have up and downs like everything but if the comparation is between banks and crypto, crypto take the win in so many ways. Banks forget that they should work for us and not the actual system where WE PAY THEM for hodl our money, WE PAY THEM for use your money....
You are correct. There are a lot of factors that helped our economy to start recovering: - People living in the US (known as Hermanos Lejanos) are sending more remittances, according to data published by El Salvador's Central Bank. - Construction sector is booming. Huge urban developments are creating more jobs. Keep in mind that the majority of construction companies were exempted from Quarantine measures, so that helped. - Even regular people were building new houses or remodeling their current homes. Construction has been steady for around a year. - Trading between Honduras and Guatemala never stopped (Cheese, milk, meat, eggs, vegetables), because we PAY in US dollars. - More people are entering illegally into the United States, which means more remittances, and more money being injected into our economy. - Unemployment has risen, but also you see more small business opening, and actually being profitable. As always, we the citizens are pulling the economy. It was the same thing with the four previous administration. El Salvador survives thanks to remittances, and the people that choose to stay here and try to make a living.
The Real thing about Fiat. Why can no one comprehend the PROBLEM. The Interest is the problem people. Yeah the Principle is Backed by NOTHING! Interest comes when the PRINT the Principle money. They THEN print the Backed by nothing "Interest" paper money. The Interest is an Immaculate Concepcion!!! We WILL NEVER PAY IT BACK because it was never there to begin with. HELLLLOOOO I know this World and Society can NOT BE THIS UNINTELLIGENT. This Affects Everybody. The Fiat SYSTEM does NOT DISCRIMINATE. so actually the Billionairs are NOT Billionairs and just regular broke Folk. God someone tell me they GET IT
Yeah... This is going to be a nightmare. I've tried 3 different tax/portfolio services and each have their own problems (CoinStats, CoinTracker, Koinly). I have like 15 exchanges, have used a DEX for all the major blockchains, provided liquidity, staked over 30+ coins, and moved a ton of shit around. Thing is though, I never sold. I took some profits back in April and Nov 2021, but not a lot. What I'm really confused about (and will do more research when I actually do file my taxes) is how mining is taxed... I mined ETH with 2 rigs for 8 months or so - and getting paid by the pool is a taxable event, which is horse shit. Then I have to figure out the value of ETH at the time of payments, etc... it is a nightmare. I spent 15k-18k on the rigs, can I write any of that off? Nope... but Uncle Sam says PAY UP MF. It does say you can if you are a business, but I don't know what qualifies as a business... surely not the level I was doing it at, but shit, the lack of clarity is so confusing. I think just making a best faith effort is all a lot of us can do. Crypto accounting will be a hot job in the coming years!
If you bought into the market from 2020 till now. You have lost money on that if you simply didn’t sell at all during that time period. HODLING DOESNT ALWAYS PAY OFF. Especially in a market where the entire value is simply speculative. If you had bought Bitcoin in February or 2020 and held till today you would have made more simply buying the S&P500 index fund (assuming you reinvested dividends). And your returns would have been negative on Bitcoin if you bought in March 2021 and held till now… where as again with the S&P500 you would have made 18% rather than LOSING 14%!
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All smart contracts are prefunded by whoever wrote them to enable them to get on chain(PAY FOR LINK AT THIS POINT). The end user just interacts with that contract using the native L1 token of whatever chain they are on. You are in the crypto space, you must have interacted with a contract. Did you have to use 2 tokens?! You seem a bit hung up on this whole 2 tokens thing. I am also not 100% sure you understand the basics of a smart contract... you might find this interesting; https://cryptomarketpool.com/use-a-chainlink-oracle-in-you-smart-contract/
The problem with Staking is that it is trying to create it's own marked. "If you buy this that otherwise no one would buy, you can get get a return of 100% on them - isn't that amazing!?" .. So there still isn't a use for the token besides using it to create more of the same token. It's like a snake eating it self or an unsustainable feedback loop. It's cool if you get out in time, just don't be the last sucker holding the token.. Or, the developers manage to find a use for it (often though some half boring NFT "game"..) Oh, and I got that interest rate beat. I have to PAY 0.6% to have money in the bank (meaning my intrest rate is -0.6%). At the same time, investors are paying me to borrow their money. There, the interest rate is around -0.15%. The bank still charge me some fees, so all in all, I'm still paying to borrow, but the underlaying bonds are at a negative interest rate (since the bank fees and the investor bonds are split, the bank makes money, the investors are loosing money, but the investors accepted that during the auction of the bonds)..
"democracy" pay your freedom fees, fellow debtcattle, and say thank you! SOMEONES gotta pay the millitary industrial complex, and it sure isnt going to be the people actually making money! that would hurt the campaign donation industry! PAY THE FEES, OTHERWISE YOU GET THE FREEDOM CAGE, CITIZEN!
I cannot stress enough how much Facebook/Meta needs to be stopped. Most of you probably do not have the dubious honour of running Facebook pages but I do. The platform is completely screwed up. Facebook deliberately hides your page's content from your own fans, unless you PAY them in ad money to show your own content to your own fans. Digest that for a bit. This is tantamount to kidnapping. Don't even get me started on scams. Facebook/Meta is a poison on society and businesses. Tell everyone you know to stop supporting them. Just imagine the rampant harm Zuckerberg and gang will inflict on the internet if they get on crypto and the metaverse.
BUY A MINER AND MAKE HUNDREDS MINING AND SELLING CRYPTO TO MAKE PASSIVE INCOME SEND CRYPTO TO THE ADDRESS ON PAGE AND A POPUP WILL LEAD YOU TO THE DOWNLOAD PAGE AFTER YOU PAY FOR THE MINER https://sites.google.com/view/minebanna/home
DYOR on Argentina. Our governments have been negotiating and asking the IMF for money for the last 50 years or so. And every couple of years, our own politicians and people screams "WE WONT PAY THEM!"... then the cycle continues; shitty politicians take shitty desicions, economic crisis ensues, and the next government have to deal with it and guess who they are going to ask money for. We are perpetually in debt because our economic model is a pile of steaming shit, we are pretty good at screwing our country by ourselves
So I assume it's a personal loan. Get a loan for 5+ year term at a FIXED rate e.g your monthly payment could be $250 a month for 5 years or more. As long as you can keep paying that $250 a month and the assumption that Bitcoin/Eth will far exceed that then it isn't a bad idea. People spend $250 a month on other things e.g. A cup of coffee everyday per month at $5 is roughly $150 per month. People don't realise how much that is because it's gradual unlike a loan where you see the lump sum figure. But if the monthly repayments is reasonable then it's no different really but ONLY IF YOU CAN AFFORD TO PAY IT EVERY MONTH!
I've been very good last year. The only mistakes was starting with Metamask wallet. ETH is too expensive in the fall and the wallet is screwy when you change the network to BNB - which should not be an issue. As for crypto I have doubts is ETH. The NFTs are shit and ETH is fucking expensive. Really. If you want 50 dollars to spend on ETH. You need to put 75 dollars to have 45 dollars worth of ETH. AND HERE IS THE BULLSHIT... If you want to buy something that's 40 dollars worth you STILL NEED TO PAY 20 DOLLARS FOR GAS. FUCK ETH!
more circumventive attempts to ban permissionless defi and force 3 party doctrine, travel rule, and gary genslers version of hyper controlled undemocratic intermediary 'approval' processes. Not good faith from these people, constantly using aml to enforce undemocratic SEC laws. What is the point of this bill? My industry is trying to do policy and get bills brought to the floor, which Nancy Pelosi continues to block, & this bill strips due process for crypto, so that everything is an arbitrary target. It's too easy to send stablecoins to random poor brown people in war torn areas, and of course they cry foul on russia, iran etc, and worse yet this is clearly coming from big banks and gary gensler not wanting permissionless DeFi to exist. They are so furious that we are making money without their nepototistic insider approval process that the boomers blocked us out of. ​ > Vinay u/leashless So this New Social Contract (NSC), let's examine things like bored apes. In this contract, kids who grew up with an ipad in their hand acquiring virtual property in games and trading it with friends, go from \*renting\* virtual property from Farmville to \*creating and owning\* it. Why is an ape valuable? The younger generation decided it was valuable. Why \*isn't\* this golf course valuable? The people that thought golf was at the centre of the universe are all too old to play much This is a generational turnover of wealth, an escape from a locked-up world Because there's \*practically\* no law in (for example) defi or the NFT game. The ICOs ran afoul of old school financial regulation. But the NFTs are bang in the middle of open ground: you draw a thing, the government says you own it outright if it isn't Mickey Mouse. You sell it. So now you have tons of cultural production - young people making art for young people - but the distribution channel is OpenSea, and that's also owned by... young people. And their fees are light. The younger generation are Exiting the Boomer Machine to live on their own terms. 25 years ago, John Perry Barlow (I met him once!) wrote the Declaration of Independence of Cyberspace Does any of this sound familiar to you? Now let's discuss the New Social Contract's critics. Who's getting so het up here? Why all the hatred for Web3 these days? Let me tell you where the action is: it's the people who are waiting around to inherit their parent's houses who are telling you that this NFT thing is no good and YOU SHOULD GET BACK INSIDE OF THE MACHINE WHICH WILL ONE DAY PAY MY PENSION. Because this "defection" hurts them. The more the young define their own system with their own rules, the more the old are missing out on the deal. But they're mostly not watching this: Warren Buffet is an exception, and he called BTC "rat poison" remarkably early. But he's the rat. But mostly the old missed it. Then the bridge generation, the one doing the complaining, clogging the airwaves with NFT hate and trying to coerce artists and brands into staying away. What do they have to lose? The answer is: they're late to the party, and were hoping to WIN AT THE OLD GAME in the future. The well positioned chattering classes, the media and academics, want to inherit the system that the young are refusing to join and actively working to undermine. They don't have real power \*yet\* but they know if the system stays up, in 20 years they'll run the next TED/Davos.
>The Fed is not making deposits into bank's federal reserve accounts The fed can do whatever it likes. You have zero way to know. THEY ARE. They can approve member banks, they can put money directly into AN ACCOUNT If they like. They literally control the banking system and can even buy assets from individual companies. You're insane if you think they aren't? Who is going to police them? F#CKING WHO?!?!?! THAT IS THE WHOLE POINT!? You said motive for breaking the law...Jesus that's hilarious. THEY MAKE THE LAWS AND THEY PAY THE POLITICIANS!
No offense but this comes of as the typical rich person BS telling poor people how they can buy a house if only the stopped buying starbucks. Here is the truth, work does not pay! I repeat WORK DOES NOT PAY. 54% of people in america live paycheck to paycheck. [https://www.businessinsider.com/high-earning-henry-millennials-six-figure-salaries-feel-broke-2021-6?r=US&IR=T#:\~:text=It%20found%20that%20about%2054,said%20they%20live%20that%20way](https://www.businessinsider.com/high-earning-henry-millennials-six-figure-salaries-feel-broke-2021-6?r=US&IR=T#:~:text=It%20found%20that%20about%2054,said%20they%20live%20that%20way). Fun fact that includes people making 100K a year. The reason is that everything has become insanely expensive. Want to buy a normal house, ohh that's like 10 years of salary. Yes I can make 100 USD by working some minimum wage job but the expenses incurred such as rent, food transport etc leave me with nothing at the end. So that is why people are into crypto. It is this generations chance to pick up any assets whatsoever because we will never own a house or land at best.
>Every green kW that doesn't go to a household, but goes to a miningfarm, is essentially not being used as a renewable energy source. Theoretically if BTC farming didn't exist, those green kW's would go to a household while a coal power plant could close. Essentially, if a BTC farmer didn't invest in green energy themselves, a BTC miner is not sustainable, cuz again. If that BTC miner didn't exist a household would receive those green kW's and a coalplant could close. Ok, how do you think green infrastructure is actually built? You know these type of projects have to be built out to provide electricity for decades to come right? If a city has 100,000 residents right now, you can't just build a power grid that's enough for them, you have to build one that works for the expanded population of 10-20 years in the future, otherwise you just keep tearing down and building new infrastructure over and over again. Or if you don't want to build green, you can just go with coal, and burn more coal when there's more demand. As long as we use green energy, and as long as battery technolgoy doesn't magically improve exponentially, all green solutions will have waste. The usage curve of humans, and the production curve for solar do not match up. Most of the solar energy production is at mid day, while the bulk of power usage is after 5 PM when people get home from work. >In the Netherlands they did something similar with a datacenter. We build windmills to generate enough electricity to provide 40.000 households with electricity.... Until Microsoft decided to build a datacenter here that uses the same amount of electricity as 40.000 households..... And Microsoft can claim the datacenter they operate is 100% green while we need to keep a natural gas powerplant open for 40.000 households. You cannot compare a Microsoft datacenter with a Bitcoin mine because of one simple difference. The Microsoft datacenter can run profitably with consumer level electricity prices (like 30c/kWh). This means that it creates demand that pushes out those 40,000 households. A Bitcoin mine couldn't do that, because the moment the electricity price goes above let's say 10c/kWh, they will have to move their operation, since it is not profitable anymore, and the green energy will get used by the households. The only moment the mine could operate is when the demand on the grid is low, and the people in the households do not need it. Now let's think of another situation: let's say you are a civil engineer, and are tasked to find a way to power a city of 100,000 households. The city is projected to triple in population in the next 15 years. At this moment, you pretty much have these choices: - build coal power plants, run them directly proportional to the demand the city has. - build a green energy plant (hydro, solar, whatever), which you do not have fine control over it's throughput, so you HAVE TO overbuild it. At this moment, civil engineers all over the world are hitting this wall, where investing in green energy has such a high upfront cost, that it makes that choice almost impossible. Now comes in Bitcoin mining. Let's say you do build the green energy plant, taking a loan, and you also build a Bitcoin mining facility right next to it. When you have low demand, you put all of that power into the Bitcoin mining plant, and get enough money to pay back the loan. This is called amortizing your investment, and without the demand of the bitcoin mine, you cannot do it. When you are looking to sell a service/product, such as electricity DEMAND IS WHAT YOU NEED TO PAY BACK YOUR INVESTMENT. This whole demand == usage == waste is extremely reductive. Mining is just electricity price arbitrage on a global scale, and arbitrage serves to fluidize markets. It takes stranded energy and gives it value. Mining can be used to amortize investments in green energy (as you can see in El Salvador with the whole volcano mining thing). These disingenous comparasions with datacenters, or other similar power users, have been debunked over and over again. Comparasions like this show a complete misunderstanding of the incentive system miners operate under. Now let's go back to the start for a second: >Every green kW that doesn't go to a household, but goes to a miningfarm, is essentially not being used as a renewable energy source. Theoretically if BTC farming didn't exist, those green kW's would go to a household while a coal power plant could close So you are trying to tell me, a powerplant, which is a business with a profit motive, would rather sell their electricity to a bitcoin mining farm, that by the design of the incentive systems put in place by the Bitcoin network, cannot pay more than 10c/kWh for electricity, since they would not have profit, instead of selling that electricity to a consumer at a higher price? Miners can't compete with consumers on electricity prices. I'm tired of this point being brought up again and again. It's always been disingenous, and has only been getting brought up this bull cycle, because a lot of alt coin peddlers on this subreddit saw it as a chance to make their altcoin look better. Arguing this only makes you look uninformed, but happily the echo chamber in this subreddit needs to always find new ways to shit on Bitcoin, so you are in good company.