The value of mining is in permanent recording of people’s current heroin transactions. The bitcoin you get is the reward for the service.
With how saturated the mining community is, you have to buy a Bugatti, put a brick on the gas pedal, all while sitting in neutral gear, and leave it running for 24/7.
Not just one Bugatti. Probably at least 100 Bugattis.
Hey, I saw Ferris’ day off, I remember how it ended.
What’s worse, is you don’t even get there on you get a small chance to get a stock-like transaction that could be worth some heroin or notging at all
Bitcoin=Snitchcoin
Monero won’t broadcast every exchange’s handler’s details: IP address, ID, time & Date, Amount, Target, Totals, etc.
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Zcash too if you enable it
Fraud. Zcash is closed source. Also it’s a backdoor backstabbing snitch coin too. Touching that is ignorant.
Willing to be wrong as I mostly observe from afar but the repo is here: https://github.com/zcash/zcash
How z-to-z shielded transactions using zero-knowledge proofs snitching?
Yeah but you could actually do useful things with the power from an idling car.
Like cook the planet
I didn’t mean literally a car, I was going a long with their metaphor.
I saw a Veritasium video where they use a massive engine as part of a whole facility that tests buildings for earthquakes. That’s not something that’s going to be a problem. And in some applications, fossil fuels are what makes sense to use.
We should definitely use them in as few applications as possible, but yeah, if you wanna act like we should stop using them completely, in all applications, you can keep hallucinating.
I was mostly making a joke about how bad cars are for the environment, not really adding anything of substance to the conversation.
Snitch on yourself.
If you’re doing something with the output of the engine then it’s not idling, strictly speaking.
You could do useful things with the power used to generate Bitcoin too.
Can an idling car save people’s wealth from hyperinflation?
they real story is more interesting. it’s just a shame that the incentives were aligned a bit askew. people gonna people.
Whats the more interesting part? It was a scam from the get go
… in that it wasn’t a scam from the beginning…
Scammers just saw an opportunity later.
Yes it was, lol. By design it can only function as a ponzi scheme, the itention might have been something else behind it but that doesn’t mean it wasn’t a scam from the get go
Who are the scammers? There is no company behind bitcoin and the soure code is open for anyone to look at at any time and anyone can participate.
Edit: A ponzi scheme is a specific thing that people like to throw at any perceived scam. Ponzi means there is money being put into btc with the promise of more money being able to be withdrawn only because more people join… which is certainly not the case for btc. There is no account where money is being deposited… only a record on a block chain. There is no guy at the end scooping up money.
By being designed a deflationary currency, Bitcoin price was “doomed” to repeatedly spike with every halving. The “scammers”, then, are the people who got in early and hoarded Bitcoin.
So then the people who buy paintings from deceased artists are also scammers? They thought the exact same thing…I want to but this intrinsically useless thing that I think will increase in value because only a finite number exist and I think more people will want it in the future.
A scam is a deception of some sort. BTC is open source. No one is tricked into buying it any more than artwork.
Paintings are beautiful. Products are useful. Bitcoin is… nothing. It’s speculation. Any time when it could have been used as a practical currency is long gone.
The delusion is strong with this one, here is a video educate yourself if you want I no longer care to argue with cryptobros
Just like govt issued currency
Ey yo bag holders are out in full force
If only anyone could actually prove btc is a scam in any way I’d gladly agree… any evidence at all. No evidence against an open source project since its inception 14 years ago. Is the evidence that impossible to reveal?
If only there was a 2 hour long video that goes throughout everything including nfts
Immediately in the first few minutes he describes in detail how btc was not designed as a scam. Thank you for proving my point
I’ll watch it. I hope it’s not 2 hours of opinion but actual dive into btc source code that shows something that I guess everyone(including banks and investment firms) has missed.
edit: This matches exactly what I said that scammers have taken an opportunity but btc was not created as a scam as was stated…so IS this a waste of 2 hours where btc is not the target but just a bunch of other coins and nft?
I wish for Lemmy Gold hoo boy
Could donate to OP’s instance. More useful than reddit gold ever was that way.
A button for that would be pretty neat.
Maybe make it more interesting “give this man a medal” and you pay money for that, but the money gets donated to the instance. That could be cool.
Yep, people will throw hundreds if not thousands of dollars at big tech giant for random useless cosmetic stuff. Using this late stage consumerism drive for actual good is honestly the best solution. This is not sarcasm. I actually lost faith in the fight against Hyper-consumerism.
Great idea!
🤮
apt 😂
Hm. I guess I have to get out the 'ol hose and canister again.
