rikki🏴‍☠️'s avatar
rikki🏴‍☠️ 1 year ago
"Mining's huge power consumption will send Texans' power bills through the roof," Bitcoin detractors screamed. According to @Pierre Rochard over the past year, the load of mining in Texas has increased by 30 percent while the price of electricity has dropped by 80 percent. We often underestimate how Bitcoin's real incentive lies in its intrinsic link to electricity. image

Replies (4)

Pax's avatar
Pax 1 year ago
i always love stuff like this. believing that bitcoin will change the world is one thing. seeing it unfold is truly magnificant. View quoted note →
Pax's avatar
Pax 1 year ago
i always love stuff like this. believing that bitcoin will change the world is one thing. seeing it unfold is truly magnificant. View quoted note →
mister_monster's avatar
mister_monster 1 year ago
That's because they refuse to understand economics. Not that they don't understand, but they actively refuse. You show them this, show them they were wrong. They'll scratch their heads. You then explain to them why this happened, do you think they're going to update their mental model of how things work? No, because they don't want to believe your reasoning. They'll be making predictions based on their old model tomorrow, be wrong again, still pretending this is some unexplainable strange quirk and not a failing of their model about how the world works, not updating their model. There's nothing scientific about how they approach understanding the world.
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