Bitcoin Forum
November 21, 2017, 05:01:24 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: the laws of thermodynamics and Bitcoin vs. The actual Money system.  (Read 200 times)
Meuh6879
Legendary
*
Offline Offline

Activity: 1428



View Profile
March 01, 2017, 12:50:59 AM
 #1

Interesting article : http://www.zerohedge.com/news/2017-02-28/energy-money-and-destruction-equilibrium

Quote
What we need is money or monies that are rooted in energy not the extraction of wealth from the citizens of a nation state.

Both gold and bitcoin are monies that are rooted in the transformation of energy. Bitcoin has its Proof of Work algorithm and gold has the physical mining process.

The creation of state money is controlled by the minds of technocrats who are heavily immersed and heavily incentivized to perpetuate a system of equilibrium not one of transformation.

It takes very little energy for central banks to create more and more currency to keep their shareholders afloat.




Quote
In contrast, bitcoin and gold are heavily energy intensive and require a massive amount of energy to produce and maintain.

There are large costs to “mining” bitcoin or gold. The producers of them take huge risks. They have skin in the game, they are subject to organic market pressures, and there are physical limits to their efforts. And lets remember both have a rare supply.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!