Topic: here you have it economists speak against bitcoin - page 6. (Read 1270 times)

reading the article here is my opinion.
the dude wants to introduce a "carbon emmisions per gigahash" (lets call it CEPGH)

well ASICS are the most environmentally friendly method per gigahash. all the CEPGH will achieve is ban altcoins that CPU/GPU mine because their CEPGH ratio is far worse.
its basically a call to rule out CPU/GPU mining which is more Carbon Emmissions per Gigahash
so i dont see it as an article against bitcoin. i see it more as a argument against other coins that are PoW based but dont want asics.

..

what i do find funny though is has anyone calculated the CEPYTKV.. Carbon Emissions Per You Tube Kitten video
what if i told you there were  
under 100million kitten videos of 4-20 minutes long
under 600k bitcoin blocks of 4-20 minutes long

meaning there are atleast 100x more kitten videos than bitcoin blocks

now lets take the bitcoin hashrate
50,000,000terrahash= 3.5million asic miners

lets say an average pc uses 450watts. an average asic uses 1.3kw ... an asic is the power of 3 PC's
screw it lets round up some more. that means that if a 10 minute kitten video has 10mill views or more. it has a more negative ecological impact than mining a bitcoin block

now remember there are 100x more video's than blocks. so just the category "kitten" on just the website youtube is wasting more electric per view than bitcoin does

...
as for my first thought
a 450w PC doing CPU mining.. scrw it lets say 3 PC's to stay on the same power usage ratio. 3 PC's CPU mining do not even do a gigahash/s
a 650w PC doing GPU mining.. screw it lets say 2 PC's to stay on the same power usage ratio. 2 PC's GPU mining do not even do a terrahash/s

an asic does ~14 terrahash/s. which as my first thought concluded makes bitcoin mining more efficient than any other altcoin that PoW's  based on the articles proposed CEPGH

Well said my friend. Bitcoin poses only a common threat since almost all the things in the world right now is in its smallest capabilities, affects the environment. Also, how about the corruption in the government which leads to a poor economy of a country? That decrease in economic power is the result why the environment is being abused.

it doesnt matter wether economist or environmental activitst, many economist also think environmental.

bitcoin will get its huge sap of opposition i recently made a picture showing the endresult of a bitcoin centristic world

Reading the article, I think the issue of existence is a misplaced priority coming from economist. I would be more comfortable if its coming from environmental activists, association of people weather readers or people concerned with global warming but not economist who don't have issue with the creation of more vehicles in other to increase GDP and increase standard of living, they also don't have issues with felling down of trees for the sake of development forgetting the advantage of a green environment, they also don't consider the impact of factories emission, release of toxic into the sea all in the name of reducing unemployment but raising concern about mining activities like they care about the environment.

Their real concern is because all of the theories, consultancies that makes them forever relevant in the scheme of things is going to be relegated to the background if the continued dominance is unabated so they decide to attack from the disadvantages they can lay claim to.

there are basically 2 legtimate standing points in confrontation

the banksters:

enrich the rich systematically making them neofeudal lords,
and enslave the rest as their money earning cattle

waste a lot of ressources for their luxury.

are gay tribal nationalists that also power racism/ethnicism globally

crypto:

wastes ressources.

dont take responsibilities to the project they propose

we will have a longterm battle between these two points

i am neither one one of those sides completely

For some people who hates bitcoin, they do like talking about it. Never had any problem with Bill Gates and Warren Buffet talking negatively against bitcoin. Surely not gonna have an issue with some economist from the Middle East.

Everyone can talk whatever they want about it and really we don't hear something new. I think if it is talked about that's always good.

This is their profession they need to do something to keep their red hot form and their name to the media so they will just speak controversial.They are against the decentralization maybe because they are making money through the fiat economy if the crypto economy grows then their profession will get affected so they are against the bitcoin to keep their income.

nope the market will vastly change. and bitcoin has stopped growing

i dont really care about profit i want a working financial market that doesnt impoverish the collective like bitcoin does it.

or continously enriches the established rich like neofeudal lords which the banksters do

yeah the list of those who spoke some nonsense against bitcoin grew by 1 and the total count is still in 1000+ while bitcoin still grows and is being adopted all around the world by real economists and people alike.

yeah keep telling yourself  that while the altcoin pumpers who promised you profit are dumping on you and getting the hell out

for me everything is defined bitcoin is a blessing for people, and as long as it gives new opportunities for new technologies, it will make a move towards justice and envy

Economist or even experts I don't really care what they have to say when it comes to bitcoin's value. No one can predict its movement in the market and those FUD will always come if the market is bearish. When bitcoin reached almost $20k where are those negative news about bitcoin? I guess most of those skeptics regretted that they weren't able to join the ride last year December. We have lots of emotional investors coming in everyday hoping that their investments in bitcoin will make them rich. They just invested their money without understanding the real nature of the technology and its performance in the market.

The harder they push, the harder we push back.    These power drunk people with their arrogant statements will soon

backfire, and I will celebrate the day when that happens. Every time the price hits a low point, the little trolls come out of their

caves to scare the noobies. This thread will become a shill magnet for these idiots. I am think of creating a forum where shills

will be eliminated, just to piss them off, like they are trying to do to us here.  

Can't miners shift to a more economical way of doing it than tapping on our electricity grid? Japan has this running water generator to power mining, will it also create this effect?

This is not actually the first time an expert voiced out his/her opinion regarding bitcoin and its adverse effects on the economy and society. However, these experts also fail to weigh in the positive impact of bitcoin in the society if ever it becomes mainstream. All eyes are focused on the negatives while completely ignoring the positives. Mining does not threaten our very existence; petty trash talks from different political leaders do. Over-harvesting of natural resources does more harm than bitcoin mining.

Someone hasn't done their homework clearly.

no thats not true, actually the established economists will always be against bitcoin, they supported blockchain but opposed bitcoin

Do you still rely on the opinion of economists and analysts? They always change their opinion depending on the mood of the market.

When bitcoin begins to grow, they will sharply praise the cryptocurrency

The opinions of these economists are purely subjective. In fact, they do not talk about the destructive power of the fiat currencies and their impact on the majority of the world's population. Most likely, they are defending the interests of other more influential people. Pure manipulation of opinion.

This is just some low-quality content. Nothing new here. Articles from that point of view are being distributed since 2017.
I agree with DooMAD on this point, there hasn't been any comparison between multiple financial systems. Nothing scientific relevant.


Particularly this made me laugh:

Now the developer aren't just responsible for writing the code and developing the software, but they have to either (1) choose a fast algorithm or (2) build ASICS for their algorithms  
The whole article is full of rash statements without any substance.

Very good, unlike the article it makes for a perfect argument.

We have seen these articles before, a lot particularly last year
when Bitcoin was gaining good support.

There are still those who want to supress the use of Bitcoin
so we will continue to see these nonsense articles.

For the average Joe who doesnt know anything about Bitcoin
other than its name and what they are fed in the media these
sort of lectures by banks etc. will make sense,
Thats the annoying thing.