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by A12-B
1961 days ago
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This is a well-done analysis. Unfortunately, bitcoin is not replacing gold. They're being mined side-by-side. Eventually the damage will be done, yes bitcoin might become the primary value storing currency. But we'll have tons and tons of gold to sit on, maybe use in very small amounts in manufacturing, and the effect it had on the environment is already done. I would totally be on board with bitcoin if it was directly replacing gold, but let's be honest and admit that no one is mining bitcoin because they believe it's a more environmentally friendly gold (which it's not, really). |
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