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by _7fvc
1932 days ago
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Bitcoin is bad for the environment, for now. There is no way to value Bitcoin. It has no intrinsic value. Its valuation is a narrative. The higher the price goes, the more energy we'd spend on mining it. I call this the Bitcoin Price Paradox [1]. But it's not all hopeless. We can find a way to ground Bitcoin to reality by develop non-speculative use-cases. Then we can develop a valuation model. I believe the key to solving this paradox is to have an inflationary crypto. It can drive payment adoption. I'm involved with Bitflate, a crypto with 7% inflation [2]. Once we have payment adoption, we can create valuation models and control energy spend on mining. [1] https://bitflate.org/post/2021/02/05/the-bitcoin-price-parad... [2] https://bitflate.org/bitflate.pdf |
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