I have already lost 1/4 of my investment in bitcoin. what can you suggest? should I continue n holding bitcoin or should I just sell it to cut my losses? I eagerly need your help on these one, specially to those people who has experience in trading.
I mean... do you feel guilty spending fiat?
The resources spent on cash goes well beyond what btc uses. I don't buy the naysayers argument, personally.
Pennies cost more to produce than they are worth, we're crushing up land to find more copper just to keep the mining companies happy. Mining (literal physical mining) costs a lot of money, resources, and leaves a huge carbon footprint.
Beyond that, there's cost for actually getting fiat out to people. Cars, planes, trains, boats, all deployed to send physical money. I've never seen an electric Brinks security van. I definitely know they don't send cash on electric planes or boats, and I'm not sure electric cargo trains are a thing yet?
Yes, the argument can be made that other things are shipped on those methods of transports and not just cash alone, but it's still not as "clean" as people think fiat is.
Doesn't end there. What about storage? Granted banks don't take up that much space but what about all the banks across the country? What is their carbon footprint?
Yes, it takes less resources to use a credit card if you think about just swiping, but what about all those credit card offices? Servers running 24/7 all over the world, and massive buildings that's constantly needing energy and infrastructure to keep up with running water, new office equipment, who knows what kind of chemicals to keep it clean, massive amounts of paper waste, mail sent out (more greenhouse gases!), people driving to and back for work that blockchain can take care of (soft argument I know) - more resources and greenhouse gases.
People make the argument of credit card companies and fiat using less energy but they never take the whole picture it takes to keep fiat alive and credit card companies running, not to mention all the extraneous factors like cc advertising, marketing, sponsorship, etc.
I bet if piracy was a bigger issue that arose today they'd make the argument that it takes the work of all the computers connected to the torrent running all the time to send a movie...
