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  #3441  
Old 15-08-2022, 08:15 AM
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Originally Posted by SA Eagle View Post
Neil’s “...a lot of Bitcoin advocates do come across as cultish...” shows an amazing lack of self-awareness, even by BBS standards.
Or look at it another way - maybe they're even more mental than Neil
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  #3442  
Old 16-08-2022, 07:40 PM
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Originally Posted by Neil 154 View Post
Admittedly a lot of Bitcoin advocates do come across as cultish. There's a strong counter-culture aspect to Bitcoin scene but the posturing is ironic most of the time. You have to take it with a pinch of salt.

The Bitcoin Mining Council was set up by bitcoin advocates that want a counter narrative to the criticism of bitcoin as harmful to the environment. Your argument that the data is incomplete is also true for any statistics about mining industry. In China miners face up to 10 years in prison and a hefty fine so they are hardly going to volunteer data to any research group. The Bitcoin Mining Council are trying to do the best they can from the available data and at least they are up-front about the difficulties.
But they haven't done that though. They are completely self-policed by the look of things. Not reliable for information, surely? You say yourself it has to be taken with a pinch of salt.

On the point of the mining industry (assuming you are talking about metal and mineral mining at this point, not bitcoin 'mining'), but crypto mining, or at least bitcoin, uses at least twice the energy of gold/other metals. (Admittedly this data is three years old now)

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It's a tricky subject and not one I'm an expert in. Rightly or wrongly, the commodities are needed as we shift towards a green economy (think lithium for batteries etc). Crypto, not so much. Despite reading a fair amount about crypto and trying to understand it (including reading and listening to the information provided), I am yet to see what it (crypto) offers, other than opportunities for criminals, scammers of bogus coins or those who think they can get rich quickly, a hugely volatile 'asset' that isn't linked in any way to economic fundamentals, most of which is not (yet) proven to be anywhere near renewable, although I do get the logic and potential of the underlying blockchain tech in some cases. As I say, good luck to you - not for me!

Last edited by Webb; 16-08-2022 at 08:00 PM.
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  #3443  
Old Today, 12:06 PM
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Quote:
Originally Posted by Neil 154 View Post
Netflix is down 59% YTD
Facebook is down 48% YTD

But Bitcoin is dead… apparently
Same as bitcoin then
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