“Bitcoin has no intrinsic value.”
- Nothing has intrinsic value. Value is subjective. It’s in the eye of the beholder.
- Value must be earned, and earning value comes with an understanding of something’s core values.
- Bitcoin is 100% monetary premium
- Bitcoin’s intrinsic value is not being a shitty money. It was designed to be the anti-fiat
- every dollar governments print into existence devalues every dollar in your bank account.
- inflation, gives Bitcoin value…and many people don’t feel it because it’s usually around 2% a year, or so they say.
- you might get an “inflation busting” pay rise, but inflation is closer to 10% than 2% so the purchasing power of your USD is crumbling away.
- money is only valuable against what it can purchase, So in 10 years time, $100 will get you much less. You might need $150 or $200 to buy you $100 worth of something today
“Bitcoin Wastes Energy/Kills the Environment.”
- Bitcoin does NOT wastefully consume energy
- Bitcoin CONSUMES ENERGY WASTE
- If not consumed, a significant portion of the energy that Bitcoin uses is otherwise wasted
- Bitcoin miners seek out the absolute cheapest sources of electricity in the world, which usually means energy that was developed for one reason or another,
- but that doesn’t currently have sufficient demand, and would therefore be wasted.
- Green Energy-friendly solutions require preto in the first place…(windmills)
- We don’t have a shortage problem, we have a consumption/utilization/efficiency problem
- Green solutions create a surplus of energy that can’t get used up and is therefore wasted
- Energy is difficult to transfer without slippage (lose considerable % moving from point A → point B)
- Mid-stream infrastructure is expensive, not a guarantee, inefficient, and even frowned upon by regulators (google Keystone Pipeline)
- Bitcoin provides the advantageous opportunity to use that wasted energy to mine Bitcoin for free and receive very lucrative profits
- Bitcoin energy consumption for mining can power Argentina because it requires this much computing power to constantly secure its protocol
- This much energy is why it’s so hard to attack the Bitcoin network, and is also what keeps it sufficiently decentralized. (unlike the countless shitcoins that make up the rest of the market)
- The market agrees that Bitcoin adds enough value to justify its energy use:
- A decentralized digital monetary system
- separate from any sovereign entity,
- with a rules-based monetary policy and inherent scarcity,
- Bitcoin gives people around the world a choice to use it as a store value and/or use to transmit that value to others.
The Little Bitcoin Book