Quote:
Originally Posted by Wayne 962
I'll stand by my previous statements. Bitcoin is a fringe technology, used pretty much only by speculators, is not used for hardly any practical/legal commerce, and the support of this fringe system uses more electricity than the entire country of Argentina. As with most people arguing about random stuff these days, it comes down to "Scope and Scale". In this case, the scope of Bitcoin's usage is minuscule, yet the scale of it's energy usage is obscene, particularly in relationship to the scale of the other systems that you quote - namely the stock market, which is utilized by millions, if not billions of people to aid in the flow of capital. It does not make any sense to compare the current energy usage of the stock market (which stock market are you referring to in particular?) to the current energy costs of Bitcoin.
-Wayne
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The specific stock market does not matter, my point was that those systems are actually NOT large in scope and scale in relation to the worlds population and wealth distribution. I'm sorry but you are straight up DELUSIONAL about the current system and what its purpose is. You have the "flow of capital" part right but conveniently forgot to mention the money mostly only flows up. The rich have been getting richer and the system promotes the consolidation of wealth. The top 1% control about HALF of all equities and the top 10% control almost 90%! Yes, wonderful scope and scale!
https://financialpost.com/investing/how-americas-1-came-to-dominate-stock-ownership