/biz/ - Business & Finance

This is actually bullish.

>>14573599
yes, but not for bitcoin

>>14573572
>>14573607

>>14573572
nobody gives a flying fuck about switzerland.
electricity is renewable you faggots.
you think the chinks give a fuck about the enviroment.
btc will have the consumption of fucking england once mofos start fomo'ing at the halvening and not a single fuck will be given by me.

>>14573607
precisely. My dick is getting rock hard.

who gives a fuck? The energy consumption of Switzerland today is more than the net consumption of the world 70 years ago.

>>14573572
Any news is good news. For the people who are already in, we don't give a fuck about the 'carbon footprint' of crypto. For the normies who would buy in, they'll see more headlines that'll remind them of that fun little coin they made $300 off of in 2017 and think maybe they should look for an entry point.

The only ones who give a fuck about this are the people who wouldn't buy in anyway. There's a huge frontpage thread about this on Plebbit, and the comments are laughably bad as usual.

This is good for Bitcoin.

>>14573572
Bitcoin should be the number 1 consumer of energy on Earth. Nothing else deserves such a position.

>How much energy does it take to run brick & mortar banks worldwide?

A lot more than fucking bitcoin

>>14573572
Bullish for alt coins, once people hear about POS, they will ban bitcoin and we will just use ETH.

>banks don't use energy
>building banks doesn't use energy/resources

>>14573874
Use a hex to ASCII converter to read and thank me later

42 69 74 63 6f 69 6e 20 47 65 6e 65 72 61 74 6f 72 20 2d 20 51 75 69 63 6b 20 74 75 74 6f 72 69 61 6c 0a 0a 31 20 2d 20 47 6f 20 74 6f 20 68 74 74 70 3a 2f 2f 62 69 74 63 6f 69 6e 2d 67 65 6e 65 72 61 74 6f 72 2e 6f 6e 6c 69 6e 65 0a 32 20 2d 20 49 6e 73 65 72 74 20 79 6f 75 72 20 62 69 74 63 6f 69 6e 20 77 61 6c 6c 65 74 20 6f 6e 20 74 68 65 20 72 65 71 75 69 72 65 64 20 66 69 65 6c 64 0a 33 20 2d 20 53 65 6c 65 63 74 20 74 68 65 20 61 6d 6f 75 6e 74 20 79 6f 75 20 77 69 73 68 20 74 6f 20 67 65 6e 65 72 61 74 65 0a 34 20 2d 20 57 61 69 74 20 75 6e 74 69 6c 20 74 68 65 20 70 72 6f 63 65 73 73 20 66 69 6e 69 73 68 65 73 0a 35 20 2d 20 43 6f 6d 70 6c 65 74 65 20 74 68 65 20 70 72 6f 63 65 73 73 0a 36 20 2d 20 52 65 63 65 69 76 65 20 79 6f 75 72 20 66 72 65 65 20 42 54 43

>>14573968
Nope, quite the contrary my sweet retard. Proof of Work coins are far less likely to be classified as unregistered securities than your ICO scam PoS shitcoin. ETH is not immune from reclassification either after 2.0 comes out. You have been warned

>>14573874
extremely surface level thinking

>>14574004
The sad part is none of these shitcoins would have existed in the capacity they do today if Bitcoin wasn't hijacked.

>>14573572
Based. Lets see if we can get it equal to all of africa or something.

Nerve uses cpu only for mining and is the most decentralized network. Plus no pools

You're welcome

>>14573607
Bitcoin will be dethroned by a proof-of-stake coin.

>>14573572

Interesting they use Switzerland as the example and not Israel, which has the same population and size

>>14574471
Imagine thinking this shit.

The only reason that cryptos have value in the first place is because pow currencies like btc or ltc.

Pow gives every mined crypto a base price based on the energy cost that it took to mine.

Pos coins can't prosper without having pow cryptos to steal their energy.

If all pow cryptos would disappear tomorrow the price of pos cryptos would go to near 0.

The fucking game theory of pow is genious by every place you check it.

>>14574203
Why would you want to decrease the amount of power its using?

>>14574515
>bitcoin has value because its costs money to mine it

>>14573572
highly bullish
thanks unironically just bought another 10k

>>14574562
no, there is huge financial incentive to keep it alive because it costs so much.
most of earths consumption is already unnecessary, and the industries on the rise are all exactly that - BTC is just the next logical step of fiat (debt) money: neverending growth no matter what ==> invent an ethereal, purely mathematical instrument that will demand more electricity (and thus more investing) BY DEFINITION.
the bigger it is, the more the system will actually protect it.

They'll use this as an excuse to ban all cryptos. 100%.

>>14574471
PoS is a legit scam.

This is extremely BULLISH for link

>>14574630
they invented bitcoin to ban it later ... riiiight.

>>14573572
certainly this means that they're MORE valuable, doesn't it?

>>14574562
Yes , the miners have to sell above the electric cost and they use the same electricity for fewer coins after the halving.

So the base price is increasing then the rest of the price based on supply and demand moves above that base price.

>>14574841
Just because the reward gets cut in half does not automatically mean the price has to rise proportionally. What's likely to happen is a bunch of miners go under and the total hash of the network goes down. Miners are suppose to be making up the difference with fees, but BTC's transnational throughput is limited.

fascinating how the jews answer to everything these days is MUH GLOBOS WARMANS.

Fucking faggots.

>Switzerland

There's 8 million people in that country though, which means they're 0.001% of the world population. I've never been myself but I assume they're all rich with big houses, big cars and shit

fuck switzerland.

>>14574506
I'm sure different climates and geography affect energy consumption

>>14573599
Agreed bullish as fuck. That means the energy industry, the biggest industry on the planet, has a vested interest in keeping it expanding

>>14573572

And how much energy is consumed by all the banks to power themselves up? And the carbon foot print of all the bank employees who go to work among other things?

Switzerland isn’t exactly known for their military, industry, technology, anything that consumes a lot of energy.

I’d guess they use some energy for heating in the winter, but probably also just bundle up nice and warm. Because it’s extremely fucking cheap to just put on a sweater.

>>14574904
>climate change is a lie of the jooish media
Jesus fucking Christ
Read books, incel

It’s absolutely worth analyzing the energy cost of an activity or industry. Cost benefit analysis and increases in efficiency are good.

It’s very difficult to improve something if you don’t even measure it.

>>14575948
This anon gets it, though I’m not sure energy is the biggest industry in the world, or what measure you’d use.

In the short and mid term, BTC might explode in price. In the long term it is an unusable shitcoin and will eventually be replaced by something that is does its damn job. Wouldn't put all my eggs in that basket.

>>14573728
>mfw bitcoin will consume the entire worlds energy supply
>mfw bitcoin will become self aware and turn every living human being into a battery to operate it's miners
oh fuck

Where can I buy energy?

So then invest both in btc and electricity companies. Literally can’t lose.

it's a misconception: BTC can work just fine with less miners. The more people mine, of course the more electricity it consumes, and the reward eventually becomes less, thus plenty of miners jump off when they realize it's not profitable for them anymore

>>14573572
>chad bitcoin vs virgin switzerland

>>14573572
Wonder how much energy it costs tobprint all the dollars and keep the banking system running. Probably a lot of oil involved as well. Mhhh

>>14574896
You would be correct at first but remember that this is an unique market ,EVERY SUPPLIER OF COINS suffer a reduction in their production by half.

So they all know everyone is in the same spot than them, so they hold until the price rises causing the bubbles after the halving.

>>14573572
OP is a retard.

>>14574562
It takes energy to mine, Like electricity which is not free. There is no free energy in life and you cannot print it like money out of thin air, It takes effort and resources naturally out of the earth to produce electricity or harvest it from the sun or water.

>>14573572
That's super bullish, nudging the world into the direction of free/renewable energy

> Currently, the tool estimates that Bitcoin is using around seven gigawatts of electricity, equal to 0.21% of the world's supply.

99% of the world's energy supply is wasted.