Bitcoins - digital currency
I hate the advancement of AI as it is really going to change society in not so good ways. There are lots of positive things, but a lot more negative imo. It definitely doesn't seem so smart sometimes with certain tasks, but we are also witnessing it at the worst that it will be and it is really efficient at certain things for sure. I personally would not mind if AI tech was in a giant bubble as some have been claiming. Unfortunately, I think this stuff is going to radically change the world in the next 10 years or so.
I believe social media has been a net negative on society, but AI will be a net negative on society on steroids. I'm trying to live my best life now before it ruins everything. I'm generally a pretty optimistic person, but I really don't see very many good possible futures coming out of AI for us. For anyone reading this, now is the time to stack up assets now, because we don't know if jobs are going to dry up or if money is going to become worthless. Be prepared for some pretty nasty outcomes.
Nov.2022
From your link :« Verdict: What Does It Take To Get Us Invested?Despite the pessimistic outlook, BITF (market cap: $200mil) is actually trading well below its $303mil adjusted net asset value ($46mil cash + $229mil PP&E + $104mil deposits + 3,111 BTC x $20,000 Bitcoin reserve value - $138mil Total Liabilities). This could justify some investments into BITF ».It’s pretty s
Well I guess today my bet paid off !
HUT as well
Took a while but it’s worth it .
I guess when u see the miners and especially the juniors reacting like this , regardless being in gold or bitcoin, the party coming to an end …
Will get there !
Nov.2022
Well I guess today my bet paid off !
Congratulations. You're taking advantage of the window in time in which there is zero cost associated with the chemical transformation of Earth's air and oceans. The result is an Earth version which humans are not acquainted with.
When the crap hits the fan, the people who inherit the mess are going to wonder what the heck we were thinking. How could companies be bragging about the size of their electrical footprint when half of it is generated by fossil fuels ?
This was a fortunate year on the American disaster front. We did have a $50B - $100B firestorm in So Cal, but all of the big hurricanes (2 Cat 5's and a Cat 4 so far this year) steered themselves into the open expanse of the Atlantic Ocean. So the insurance companies got to pocket those SE US insurance premiums this season.
But the chronic increase in risk as the warming ocean expands in volume and ocean circulation slows means we're just playing Russian Roulette.
The people who administer the death blow to bitcoin are going to be insurance actuaries. They are gradually pulling the plug on property insurance. US real is an asset in the neighborhood of $100 trillion in value. Lots of mortgage exposure on those lenders balance sheets. Municipal finances are dependent upon property taxes and the ability to raise capital via long-term bond offerings. When the market begins to price in the transition of coastal real estate from perpetuity (forever asset) to annuity (limited life asset), everything starts to shift.
Read any article about condo prices on the west coast of Florida or the gulf coast of Mississippi or Louisiana. The transition to annuity is already happening and there is no evidence that humans have anything in their back pocket to stop it. Some leading climate scientists like James Hansen and Leon Simons are calling for atmospheric geoengineering which artificially increases the Earth's reflectivity.
It's incredible how detached people are from the massive fossil fuel combustion which has fueled bitcoin. Like it doesn't exist and it presents zero constraint. Caught in some kind of fantasy that this is not a problem which is going to kick our asses.
What do you propose we do about this? That does sound quite terrible. I watched a video recently about people's lives being ruined because a bitcoin mine was built nearby and the people have to listen to the noise 24/7. According to the video which took place in Texas, the legal limit is 85 decibels which is extremely high. Some lady reported having recorded the noise as being over 100 decibels which is crazy high levels. The people there can't sell their homes and move because nobody wants to buy a home next to a bitcoin mine.
Congratulations. You're taking advantage of the window in time in which there is zero cost associated with the chemical transformation of Earth's air and oceans. The result is an Earth version which humans are not acquainted with. When the crap hits the fan, the people who inherit the mess are going to wonder what the heck we were thinking. How could companies be bragging about
FWIW bitf massively about hydro Quebec!
So it’s alll good 😀
What do you propose we do about this? That does sound quite terrible. I watched a video recently about people's lives being ruined because a bitcoin mine was built nearby and the people have to listen to the noise 24/7. According to the video which took place in Texas, the legal limit is 85 decibels which is extremely high. Some lady reported having recorded the noise as being
Texas Republican -> regulations are bad and should all be abolished.
It’s on them ….
. In September 2025, the Cambridge Centre for Alternative Finance estimates that Bitcoin mining consumes .... roughly 0.83% of global electricity consumption. ,]Fossil fuels account for 47.6%
I'm going to try and put this into math terms which may be more relatable.
Total CO2 equivalents (CO2 + other GHG's) from the energy sector are ~ 16 billion tons per year (see link below) * 0.0083 (% of electricity to bitcoin) * .476 (% of bitcoin electricity from fossil fuels) = 63.2 million tons of CO2 equivalent per year from bitcoin mining and transactions.
One internal combustion automobile produces 20 lbs of CO2 per gallon of gas. So, an average car might create 5 ton of CO2 per year if they drive 10,000 miles and get 20 mpg.
Bitcoin is currently responsible for as much CO2 emissions as ~ 12.5 million internal combustion automobiles per year. Bitcoin is just a single type of cryptocurrency. There are other crypto options which are less energy intensive. If you are going to invest in crypto, I suggest finding a form of it which is less likely to be banned as a result of a global treaty.
Bitcoin is currently responsible for as much CO2 emissions as ~ 12.5 million internal combustion automobiles per year.
When you put it like they it kind of sounds like nothing. What's everyone freaking out about?
Wow .... a 15% correction since I came into this thread and shared my opinion that BTC is a Ponzi Scheme.
If only I was courageous enough to bet my hunches.
Wow .... a 15% correction since I came into this thread and shared my opinion that BTC is a Ponzi Scheme.
If only I was courageous enough to bet my hunches.
Imagine coming to this thread in Dec 2017 and sharing the opinion that BTC is a Ponzi Scheme at 17k$. And then in two months it crashes to 7k$, what a hefty 60% correction!
On a serious note, just go to https://www.investing.com/crypto/bitcoin..., pick a monthly timeframe and check how many 15+% "corrections" there were since 2012 for example (using Change % column)
I’m still waiting for him to explain how BTC is a Ponzi. I guess Satoshi is stealing all of our money.
Yeah, just saw that.
Binance, when it was in the US initially before the .us version, did the right thing for me when I got scammed for a bunch of alts.
They ended up sending me, and a bunch of other people who had the same thing happen to them, the USD value back from what was lost in BTC after it came to light maybe a week after it happened.
CZ for sure was guilty but I appreciated they did the right thing back then when they didn't have to.
CZ for sure was guilty but I appreciated they did the right thing back then when they didn't have to.
he was guilty of having an ineffective AML program.
this is true, but is also true of every bank executive. banks routinely process tx for sanctioned countries and have inadequate procedures. they get fined and fill government coffers, but no bank exec is ever charged or jailed for this. bit of a double standard for crypto.
still don't like the pardon process in general, and yes, quid pro quo and all that, but perhaps start jailing some bankers.
Are you guys surprise trump pardon Frauds ?????
Fraud is legal now…
Especially when you have the means to give “expensive donations”.
Are you guys surprise trump pardon Frauds ?????
Fraud is legal now…
Especially when you have the means to give “expensive donations”.
What are you talking about? Assume something other than CZ.
You need names ?
Here we go :
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Don’t worry , others will come .
You need names ?
Here we go :
Sir, this is a Wendy's
CZ plead guilty to willfully not implementing AML but in the evidence this is because he admitted that his clients were using the platform to money laundering so the distinction is kind of moot
