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Author Topic: here you have it economists speak against bitcoin  (Read 241 times)
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August 09, 2018, 04:44:53 PM
 #21

https://www.ccn.com/bitcoin-mining-threatens-our-existence-academic-says-calls-for-intervention/

economists from qatar publicly speak out against bitcoin and its destructive nature,

as i told you in threads before the conflict will come

https://bitcointalk.org/index.php?topic=4776316.msg43124804#msg43124804

Reading the article, I think the issue of existence is a misplaced priority coming from economist. I would be more comfortable if its coming from environmental activists, association of people weather readers or people concerned with global warming but not economist who don't have issue with the creation of more vehicles in other to increase GDP and increase standard of living, they also don't have issues with felling down of trees for the sake of development forgetting the advantage of a green environment, they also don't consider the impact of factories emission, release of toxic into the sea all in the name of reducing unemployment but raising concern about mining activities like they care about the environment.

Their real concern is because all of the theories, consultancies that makes them forever relevant in the scheme of things is going to be relegated to the background if the continued dominance is unabated so they decide to attack from the disadvantages they can lay claim to.


it doesnt matter wether economist or environmental activitst, many economist also think environmental.

bitcoin will get its huge sap of opposition i recently made a picture showing the endresult of a bitcoin centristic world

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August 09, 2018, 04:53:07 PM
 #22

Nothing we haven't heard 100 times before already.  As usual, it completely disregards the environmental impact of fiat as if that wasn't worth considering.  Where's the "conflict" for all the electricity consumed by banks, card providers, automated clearing houses, ATMs, etc?  Where's the condemnation of the fossil fuels burned when physical supplies of national currencies are transported by armoured van/truck?  What about the metals that have to be mined out of the earth in order to produce physical coins?  Stop pretending that everything else is fine and that only Bitcoin has environmental concerns.
Well said my friend. Bitcoin poses only a common threat since almost all the things in the world right now is in its smallest capabilities, affects the environment. Also, how about the corruption in the government which leads to a poor economy of a country? That decrease in economic power is the result why the environment is being abused.

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August 09, 2018, 09:31:34 PM
 #23

reading the article here is my opinion.
the dude wants to introduce a "carbon emmisions per gigahash" (lets call it CEPGH)

well ASICS are the most environmentally friendly method per gigahash. all the CEPGH will achieve is ban altcoins that CPU/GPU mine because their CEPGH ratio is far worse.
its basically a call to rule out CPU/GPU mining which is more Carbon Emmissions per Gigahash
so i dont see it as an article against bitcoin. i see it more as a argument against other coins that are PoW based but dont want asics.

..

what i do find funny though is has anyone calculated the CEPYTKV.. Carbon Emissions Per You Tube Kitten video
what if i told you there were  
under 100million kitten videos of 4-20 minutes long
under 600k bitcoin blocks of 4-20 minutes long

meaning there are atleast 100x more kitten videos than bitcoin blocks

now lets take the bitcoin hashrate
50,000,000terrahash= 3.5million asic miners

lets say an average pc uses 450watts. an average asic uses 1.3kw ... an asic is the power of 3 PC's
screw it lets round up some more. that means that if a 10 minute kitten video has 10mill views or more. it has a more negative ecological impact than mining a bitcoin block

now remember there are 100x more video's than blocks. so just the category "kitten" on just the website youtube is wasting more electric per view than bitcoin does

...
as for my first thought
a 450w PC doing CPU mining.. scrw it lets say 3 PC's to stay on the same power usage ratio. 3 PC's CPU mining do not even do a gigahash/s
a 650w PC doing GPU mining.. screw it lets say 2 PC's to stay on the same power usage ratio. 2 PC's GPU mining do not even do a terrahash/s

an asic does ~14 terrahash/s. which as my first thought concluded makes bitcoin mining more efficient than any other altcoin that PoW's  based on the articles proposed CEPGH

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August 12, 2018, 05:00:19 AM
 #24

Generally there are some good aspects of it, there are some bad points. I think Bitcoin is also the case. However, the effect of these harmful aspects will be seen. Bitcoin is currently the most popular and profitable. I think it will do something good in the future.
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August 12, 2018, 07:02:01 PM
 #25

It is not new that someone is talking against bitcoin. Bitcoin is facing such opposition from the very beginning. This doesn't affect bitcoin much as people know how to differentiate between right and wrong and very ew pay heed to such negativity. 
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August 12, 2018, 07:12:38 PM
 #26

Economists are against the bitcoin! It’s obvious that some will not support it but for that reason bitcoin is not going to be demolished. It became controversial when the economists supported the blockchain. Established economists are still earning through fiat currency so it’s difficult for them to accept the new digital currency. Hope that they will accept it soon!
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August 12, 2018, 07:36:47 PM
 #27

And what shoudl we expect about this? This is nothing, i do not even understand why there are so many people in here trying to spread this kind of fud at the moment

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August 12, 2018, 07:45:18 PM
 #28

Quote
The ever-increasing amounts of electricity that bitcoin mining consumes threaten to reverse the efforts and gains made so far in mitigating greenhouse gas emissions, an academic has claimed.

What an idiot. If you don't like greenhouse gasses so much maybe you should invest in solar, wind and geothermal plants. Even nuclear energy doesn't generate any gasses so I don't see a connection between consuming energy and the greenhouse effect unless you have a small coal or diesel powered generator in your yard that powers the farm

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August 12, 2018, 08:35:37 PM
 #29

https://www.ccn.com/bitcoin-mining-threatens-our-existence-academic-says-calls-for-intervention/

economists from qatar publicly speak out against bitcoin and its destructive nature,

as i told you in threads before the conflict will come

https://bitcointalk.org/index.php?topic=4776316.msg43124804#msg43124804
I think this is completely ok because people are always having a different sometimes opposite sides of opinions, so some of them are telling the Bitcoin would be great and some of them are telling the Bitcoin will be dead.

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August 12, 2018, 09:57:51 PM
 #30

Nothing to be wondered here. There are lots of people who always complain about bitcoin. And the number of these people is huge. I think we can avoid what they are saying about Bitcoin.
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August 12, 2018, 10:37:24 PM
 #31

He is know totally wrong at all. But i think those who are against bitcoin, most of them don't know about the proper utilization of bitcoin or cryptocurrency. So i think there is nothing unusual here.
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August 12, 2018, 11:09:39 PM
 #32

I think he is not aware of the advantages of cryptocurrency. There might be some disadvantages but the positive sides are brighter. So, i hope it will take time but more people will talk in favor of bitcoin.
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August 13, 2018, 06:48:59 AM
 #33

That is just a biased point of view. If you compare Bitcoin with other assets that we use in our daily life, all of them deal the same amount of damage to environment while we obtain them but nobody will talk about those assets as they are already holding themselves. I stopped reading the articles or news that are written on the hazardous effect of BTC on nature.
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August 13, 2018, 06:53:24 AM
 #34

as i told you in threads before the conflict will come

well newbies are always like this. they see some news article posted by one of these big sites that throw in names to increase their legitimacy of the article and then these newbies start thinking this is a valid thing and they thing it is new.
but if you check out the list of articles on the same site for the past 9 years you can see they have been basically posting the same thing with different words every couple of months at least Smiley
in other words what you see as "conflict" is nothing new. and it is more like market manipulation and desperation.

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August 13, 2018, 07:47:42 AM
 #35

However, these experts also fail to weight in the positive impact of bitcoin in the society if ever it becomes mainstream. All eyes are focused on the negatives while completely ignoring the positives. Mining does not threaten our very existence, petty trash talks from different political leaders do. Over-harvesting of natural resources does more harm than bitcoin mining. Economist or even experts I don't really care what they have to say when it comes to bitcoin's value. No one can predict its movement in the market and those FUD will always come if the market is bearish. We have lots of emotional investors coming in everyday hoping that their investments in bitcoin will make them rich.
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August 13, 2018, 07:52:44 AM
 #36

Nothing we haven't heard 100 times before already.  As usual, it completely disregards the environmental impact of fiat as if that wasn't worth considering.  Where's the "conflict" for all the electricity consumed by banks, card providers, automated clearing houses, ATMs, etc?  Where's the condemnation of the fossil fuels burned when physical supplies of national currencies are transported by armoured van/truck?  What about the metals that have to be mined out of the earth in order to produce physical coins?  Stop pretending that everything else is fine and that only Bitcoin has environmental concerns.

Very good, unlike the article it makes for a perfect argument.

We have seen these articles before, a lot particularly last year
when Bitcoin was gaining good support.

There are still those who want to supress the use of Bitcoin
so we will continue to see these nonsense articles.

For the average Joe who doesnt know anything about Bitcoin
other than its name and what they are fed in the media these
sort of lectures by banks etc. will make sense,
Thats the annoying thing.


Think about every average joe who's mind changes to "I can't trust them" though over the long run with Bitcoin...

People will only believe for so long, then they will never trust "experts" when they can verify transactions on the blockchain.

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August 13, 2018, 08:30:39 AM
 #37

Do you still rely on the opinion of economists and analysts? They always change their opinion depending on the mood of the market.

When bitcoin begins to grow, they will sharply praise the cryptocurrency
i personally rely on  economist cause they have good intel on the market, yes sometimes they are off but 9/10 their analysis of the market is really great and helps a lot.
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August 13, 2018, 08:50:21 AM
 #38

https://www.ccn.com/bitcoin-mining-threatens-our-existence-academic-says-calls-for-intervention/

economists from qatar publicly speak out against bitcoin and its destructive nature,

as i told you in threads before the conflict will come

https://bitcointalk.org/index.php?topic=4776316.msg43124804#msg43124804

Reading the article, I think the issue of existence is a misplaced priority coming from economist. I would be more comfortable if its coming from environmental activists, association of people weather readers or people concerned with global warming but not economist who don't have issue with the creation of more vehicles in other to increase GDP and increase standard of living, they also don't have issues with felling down of trees for the sake of development forgetting the advantage of a green environment, they also don't consider the impact of factories emission, release of toxic into the sea all in the name of reducing unemployment but raising concern about mining activities like they care about the environment.

Their real concern is because all of the theories, consultancies that makes them forever relevant in the scheme of things is going to be relegated to the background if the continued dominance is unabated so they decide to attack from the disadvantages they can lay claim to.


it doesnt matter wether economist or environmental activitst, many economist also think environmental.

bitcoin will get its huge sap of opposition i recently made a picture showing the endresult of a bitcoin centristic world

I don't get the point why other people tends to hate bitcoin but in fact it's really helpful. Indeed bitcoin is a system for all especially for the unemployed but many people are hating it. They speak against it even if bitcoin is doing its best to help our community. I hope that bitcoin will speak for itself with its benefits and let bitcoin prove economists wrong.

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August 13, 2018, 08:53:53 AM
 #39

https://www.ccn.com/bitcoin-mining-threatens-our-existence-academic-says-calls-for-intervention/

economists from qatar publicly speak out against bitcoin and its destructive nature,

as i told you in threads before the conflict will come

https://bitcointalk.org/index.php?topic=4776316.msg43124804#msg43124804

Reading the article, I think the issue of existence is a misplaced priority coming from economist. I would be more comfortable if its coming from environmental activists, association of people weather readers or people concerned with global warming but not economist who don't have issue with the creation of more vehicles in other to increase GDP and increase standard of living, they also don't have issues with felling down of trees for the sake of development forgetting the advantage of a green environment, they also don't consider the impact of factories emission, release of toxic into the sea all in the name of reducing unemployment but raising concern about mining activities like they care about the environment.

Their real concern is because all of the theories, consultancies that makes them forever relevant in the scheme of things is going to be relegated to the background if the continued dominance is unabated so they decide to attack from the disadvantages they can lay claim to.


it doesnt matter wether economist or environmental activitst, many economist also think environmental.

bitcoin will get its huge sap of opposition i recently made a picture showing the endresult of a bitcoin centristic world

Sometimes I don't really understand the thinking that economists have. I don't really get why they tend to hate a system which brings a lot of opportunities for the community. We can't deny the fact that bitcoin is a great system and helping the society but they still find a way to hate it. I hope bitcoin will speak for itself and prove the economists wrong for being against it.

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August 13, 2018, 09:06:41 AM
 #40



I did not try to read the link that you displayed.
because I think with your post I can judge that this post will worsen about bitcoin. Yes, right, I'm not surprised and surprised. in my opinion there will always be those who create FUDs to pressure bitcoin down deeper.

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