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by tanelpoder
1944 days ago
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Also, what happens when the power is out? Texas power grid was apparently a few minutes from completely collapsing recently, with some estimates that it'd take up to months to get it fully back online (and what does electricity cost around that time?). Or if a weather event seems too local, what about a major solar flare that takes out transformer capacity for years? (and it would be expensive for a long time). One could revert back to cash and gold without power, but bitcoin transactions? Edit: I guess the summary would be that cash & gold are decoupled from electricity (even if it takes some to create/mine them), but Bitcoin's entire existence depends on continuous availability of (cheap enough) electricity. |
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