bitcoms
bitcoms@nostrplebs.com
npub18s6a...eqxk
Writing and photographing Bitcoin
GM
The FT getting itself into a bit of a muddle with its lead article this morning.
It ‘fears’ that investors want to fall for Trump’s shitcoin scams, but are instead falling for copycat shitcoin scams passing themselves off as Trump shitcoin scams.
Oh dear.
GM
GM
GM
GM
Trump’s digital financial technology executive order is just politics as usual.
In theory, the government makes decisions in the people’s best interests. In practice, the government makes decisions in big business’s best interest.
That’s why the government promotes garbage food, harmful drugs which don’t work, constant warfare, etc.
The centralised shitcoin industry was a huge donor to the Trump campaign. As a result, centralised shitcoins are likely to be promoted by the government. It’s just the way politics work. Trump even established himself as shitcoiner-in-chief before assuming office.
Bitcoin may benefit by being included in any US initiatives or reserves. But Bitcoin will suffer because officialdom will legitimise centralised shitcoins.
Some very good points here, particularly relating to mining centralisation. View quoted note →
GM
Establishment media and regime academia are preparing the ground to blame Bitcoin for the inevitable future fiat and tradfi crises.
GM
“He felt closer to dust, he said, than to light, air or water”
WG Sebald, The Emigrants 1992
Frank Auerbach, Head of EOW 1960 (snap by me in 2023)
Like Bitcoin, gold hasn’t made an all-time high this year against the inflation-adjusted dollar.
Gold Tests 1980 Real Record High as BRICS Push
Gold just hit more new all-time highs, rising close to 1980
GM
BITCOIN IS 'GREEN'
Many wrongly believe Bitcoin miners are devouring all the world’s energy and destroying the planet. This is due to erroneous ‘green’ anti-Bitcoin propaganda peddled by those who see Bitcoin as a threat, or (misguidedly) believe they are competing with it, or are simply poorly informed and parroting mainstream disinformation.
Bitcoin consumes a lot of energy annually, but in world terms this is tiny: even a probable overestimate of low hundreds of terrawat hours per year is a tiny fraction of a single percent of global energy use. But unlike most activities, which use mostly carbon-based power, Bitcoin runs primarily on sustainable energy, making it far ‘greener’ than other industries in terms of carbon emissions.
Worse, those advocating against Bitcoin from a carbon perspective have it backwards, because they fail to grasp the network’s revolutionary utility and efficiency: they should instead campaign to have energy-guzzling classical payments systems replaced by Bitcoin, as this would result in vastly reduced energy use, as well as a consequentially far lower 'carbon footprint'.
And what about methane, which is widely considered orders of magnitude worse for atmospheric warming than carbon dioxide? Bitcoin is already eliminating methane emitted by natural gas flaring, landfill sites and animal farms. At scale, this could contribute significantly to achieving emission reduction targets.
Agile and mobile, Bitcoin miners are also happy to be intermittent power consumers, helping to balance grids by using off-peak excess generation, improving overall system efficiency and thereby reducing consumption and emissions.
None of this is because Bitcoin desires to be ‘green’. It’s just that Bitcoin miners' incentives – to use the cheapest electricity they can find – aligns with using otherwise wasted energy which doesn’t have rival consumers. Because renewable electricity generation is often inefficient and wasteful, and many energy sources are not exploitable by grids, Bitcoin gravitates towards their cheap, otherwise stranded power.
Bitcoin is ‘green’.
bitcoms.xyz - Bitcoin is 'green'
Many wrongly believe Bitcoin miners are devouring all the world’s energy and destroying the planet. This is due to erroneous ‘green’ anti-Bit...
GM
(Skit Note, Banksy, 2004)
