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InitialsDiceBearhttps://github.com/dicebear/dicebearhttps://creativecommons.org/publicdomain/zero/1.0/„Initials” (https://github.com/dicebear/dicebear) by „DiceBear”, licensed under „CC0 1.0” (https://creativecommons.org/publicdomain/zero/1.0/)SU
Posts
9
Comments
970
Joined
2 yr. ago

  • Isn’t it strange no one gave a shit about this a year and a half ago when the price was lower? It appears everyone’s concern for the environment and energy consumption only increases when the price goes up. Interesting correlation or may be causation.

  • Bitcoins price is derived from the cost of compute, energy and a finite supply. These are the fundamentals of bitcoin. Just like the price of gold is set mostly by the cost of machinery, energy and labour to pull it out of the ground and then the extra cost of maintaining or protecting the gold reserves, there’s also a finite supply. Bitcoin going PoS would be a bit like the current gold system saying we’re not going to take it out of the ground any more but instead we’re going to say who ever owns the current stockpile gets an imaginary credit for more gold. Any new gold entering into circulation will only be in the form of gold contracts.

  • Bitcoin spiked when the latest banking crisis emerged and several US banks collapsed. This is not bitcoin tracking the wider economy. Bitcoin should track the wider economy only in a sense of cost of compute, electricity, against inflation and supply. Hypothetically if demand was to remain exactly the same for the next 10 years the price would increase.