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Comment by Nursie | Hacker News Reader

> So you don't care about Bitcoin, but you want to leech of the electricity being used to secure it in order to perform something which you think is useful? Right.

No, I want the world's energy and carbon footprint to reduce, rather than have people with a decentralisation fetish invent new ways to incentivise thrashing.

> Theft is never a useful feature. There is always a loser. Money printing is theft

Yeah never mind, you're clearly very deep down this particular rabbit hole and nothing anyone says is going to change that. Best of luck, but I'm glad your views aren't all that prevalent.

> Tether has nothing to do with Bitcoin

Tether has everything to do with the bitcoin markets and the price of bitcoin, which is the only thing basically anyone is interested in.

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> No, I want the world's energy and carbon footprint to reduce, rather than have people with a decentralisation fetish invent new ways to incentivise thrashing.

Then any way to dismantle the existing consume-everything-to-make-a-profit economy, which is caused by archaic and inefficient monetary systems, should be good, right?

How much energy is wasted / burned because of our existing monetary policies?

cryptocurrency PoW is bajillions times more efficient than, i dunno, exerting currency dominance by shows of military power or shipping goods all over the world because its "cheaper" to make things here and sell things there.

> Then any way to dismantle the existing

any way? No, and particulary one that, for instance, encourages competitive.burning of power for profit and uses the power demands of a small country to service the transactional needs of a town.

>How much energy is wasted / burned because of our existing monetary policies?

Probably quite a lot. But then they do so much more than cryptocurrency can, so the comparison is nonsense.

"bajillions" being code for "I have no idea at all" renders your argument at the end there pretty moot.

>Tether has everything to do with the bitcoin markets and the price of bitcoin, which is the only thing basically anyone is interested in.

Tether has become the proverbial suitcase of IOUs. The GP is outraged about the government stealing money through inflation, when the Tether printing press has been merrily siphoning actual USD out of the markets, a half billion at a time.

> No, I want the world's energy and carbon footprint to reduce

I take it you're OK with nuclear energy then?

If Bitcoin were fully powered by nuclear or other clean or renewable energy, I'm sure you'd find something else to complain about, no?

It would still be a massive drain in a world that's trying to cut down its energy footprint. There really isn't such thing as "spare" power when the world burns as much coal and gas as it does right now.

Adding a currency that relies on the competitive waste of power to the mix is a hideous idea.

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