"Bitcoin as economic energy" -questions you need to ask
1. What do you think of the notion, perhaps popularized by Michael Saylor, that Bitcoin is economic energy? 2. Since mining Bitcoin is so damn competitive, is it fair to assume that the Bitcoin mined with $100 of electricity will always be close to $100?
3. If that's true then can we also say that the "economic energy" mined with 100 KW of energy will always be close to 100 kW?
4. If that's true, and given that there is an immense amount of heat lost in the process of Bitcoin mining does it not seem like Bitcoin mining breaks the law of conservation of energy?
Scrooge McBitcoin
npub1md…826n5
2024-08-27 18:49:01
Author Public Key
npub1mday8uyn7qqdvgx4scm93s6x83gxqrlpu00sksn46vjh0kty4umq8826n5Published at
2024-08-27 18:49:01Event JSON
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"content": "\"Bitcoin as economic energy\" -questions you need to ask\n1. What do you think of the notion, perhaps popularized by Michael Saylor, that Bitcoin is economic energy? 2. Since mining Bitcoin is so damn competitive, is it fair to assume that the Bitcoin mined with $100 of electricity will always be close to $100?\n3. If that's true then can we also say that the \"economic energy\" mined with 100 KW of energy will always be close to 100 kW? \n4. If that's true, and given that there is an immense amount of heat lost in the process of Bitcoin mining does it not seem like Bitcoin mining breaks the law of conservation of energy?",
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