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I wasted years of my life in crypto

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681 points Anon84 | 1 comments | 07 Dec 25 12:57 UTC | HN request time: 0s | source
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spicyusername ◴[07 Dec 25 13:28 UTC] No.46181533[source]▶
I've never understood the initial arguments about Bitcoin, no matter how many times they've been explained to me.

The block chain is, and always was, an extremely inconvenient database. How anyone, especially many intelligent people, thought it was realistic to graft a currency on top of such a unwieldy piece of technology is beyond me. Maybe it goes to show how few people understand economics and anthropology and how dunning-krueger can happen to anyone.

Now the uninformed gambling on futuristic sounding hokum? THAT is easy to understand.

That being said, I'm sorry the author had to go through this experience, the road of life is often filled with unexpected twists and turns.

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phplovesong ◴[08 Dec 25 10:09 UTC] No.46190551[source]▶
Simply put:

Bitcoin was to be an alternative to FIAT, but it ended up being nothing more then a meme-stock that consumes more energy than Poland or Argentina.

Its sad really. But the greed in people turned it into shit.

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l___l ◴[08 Dec 25 11:31 UTC] No.46191091[source]▶
A different metric of comparison isn't Bitcoin's energy consumption compared to other countries but compared to the existing banking system it's trying to replace, which burns more energy than Bitcoin and allegedly burns more energy funding wars with fiat. Mining gold instead of Bitcoin burns more energy than Bitcoin too.

Compared to that for energy consumption, Bitcoin is superior really.

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1. phplovesong ◴[09 Dec 25 05:54 UTC] No.46201713[source]▶
You should not compare bitcoin to "the banking industry", but instead to say a stock. Apple is worth more than the entire crypto industry, but for arguments sake lets say they are the same.

So you should instead compare bitcoin to APL stock. How much energy is APL (and APL alone) stock using? This is hard to measure, but probably a fraction of a fraction of the bitcoin energy use.