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by tomdell
1930 days ago
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Bitcoin still doesn’t provide any significant value
outside of black market purchases, though.
The increase in value is due to an increase in hype and a lot of people hoping to get rich quick - not due to increased practical adoption.
Governments aren’t going to let it replace currencies they can control - and to be honest, I’m not sure we’d want it to - somebody’s always in control, and I’d argue it’s better to at least know who they are (see any HN comments on “flat” organizations). It’s just a bunch of wasted energy to arbitrarily move money from one set of traders to another. |
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If it's wasted energy, then it's wasted money. But traders don't have unlimited funds. They are somehow generating at least as much wealth as the value of the electricity that is being used.