celtic1888 t1_j3rwzwf wrote on January 10, 2023 at 5:40 PM

This is peak capitalism

Build something out of thin air with zero backing, no real utility, tons of FOMO/speculation and harmful as fuck to the environment

At least we don’t have to fill up landfills with bitcoins when they are worthless

NumberOneGun t1_j3s0tpc wrote on January 10, 2023 at 6:03 PM

We will have contributed to global warming instead of landfills. We're in a closed system, but capitalists don't like to acknowledge that.

Raevix t1_j3v9qel wrote on January 11, 2023 at 8:08 AM

You just gave me an amazing idea for a public art project...

"Bitcoin Landfill"

rikki-tikki-deadly t1_j3u1pq7 wrote on January 11, 2023 at 1:41 AM

It's worse than that. At least landfills full of crap will keep some carbon captured.

redditticktock t1_j3v6ngx wrote on January 11, 2023 at 7:29 AM

Truly don't understand these comments. Ok, Bitcoin is worthless. So what isn't worthless? Bitcoin is nothing more than a distributed ledger maintained by pretty ingenious network design incentivized by a reward worth 117k USD to produce a valid block every 10 minutes. That's what the market is willing to pay. Very simple. Bitcoin mining is currently much more profitable than Gold mining and infinitely more liquid. Sure, you could get job and make widgets for fiat or do investing to make fiat. There will always be ways to get new fiat. There is only one way to get new Bitcoin. Bitcoin is the coolest invention in over a decade and it's barely started.

Basas t1_j3w0og9 wrote on January 11, 2023 at 1:30 PM

Bitcoin is mined by solving math problems. Insane amounts of resources are used for this and the results are only used for bitcoin making this whole process virtually useless. Bitcoin is one of the most harmful inventions in over a decade.