this post was submitted on 17 Sep 2023
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Come on comrades! What are you waiting for?! (lemmygrad.ml)
submitted 1 year ago by CyberGhost@lemmygrad.ml to c/memes@lemmy.ml
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[–] Mubelotix@jlai.lu -2 points 1 year ago (1 children)

This is exactly why Bitcoin works. But it will be much harder to create a democracy than a currency

[–] BurgerPunk@hexbear.net 6 points 1 year ago (1 children)

Does Bitcoin work? As anything other than scam?

[–] Mubelotix@jlai.lu 1 points 1 year ago (2 children)

Better than that, it can't break

[–] FluffyPotato@lemm.ee 0 points 1 year ago (1 children)

It would literally break if it replaced all currency. Transaction times would be either measured in months if that happened or bitcoin would consume 10x the current energy production of the entire earth.

[–] Mubelotix@jlai.lu 1 points 1 year ago (1 children)

Bitcoin only consumes spare energy that couldn't be sold for a better price to someone else

[–] FluffyPotato@lemm.ee 1 points 1 year ago

In that case transactions would take months if not more making it effectively useless.

[–] BurgerPunk@hexbear.net -1 points 1 year ago (1 children)

It can't? So pump and dump schemes are a feature not a bug?

[–] Mubelotix@jlai.lu 1 points 1 year ago (1 children)

Bitcoin doesn't care how much people price it in dollars

[–] BurgerPunk@hexbear.net 1 points 1 year ago* (last edited 1 year ago)

The people speculating on its worth do