COMMENTS AND REACTIONS ON BITCOIN AS IT PLUNGE FURTHER INTO AN ALL TIME DIP

Bitcoin dip has put a lot of people in a worry state.

COMMENTS AND REACTIONS ON BITCOIN AS IT PLUNGE FURTHER INTO AN ALL TIME DIP
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Since Elon Musk tweeted about the environmental hazard of Bitcoin, it has continually plunge into a consistent dip, ascertions about the cryptocurrency has been made around the world. These ascertions aren't helpful in the predicament the famous crypto find itself right now. Read and enjoy;

“Bitcoin alone consumes as much electricity as a medium-sized European country,” says Professor Brian Lucey at Trinity College Dublin. “This is a stunning amount of electricity. It’s a dirty business. It’s a dirty currency.”

Most miners use 75% in renewables because it affects their profits. Its in their best interest to get their mining costs down as cheaply as possible. This is nothing but more Fud. The banking systems uses MORE power than Bitcoin, and no one is complaining about that....I can guarantee you the mechanisms that process transactions in a centralized database use nowhere near the level of energy seen from cryptocurrency.

That's not how things work. Banking provides other services other than just transactions such as mortgages. It also provides jobs. Bitcoin consumes a huge amount of energy for simply moving funds from account A to account B.... This isn't true. 75% of bitcoin miners use SOME renewables in their energy mix. But adding it all up, only 39% of bitcoin is powered by renewable energy..

Bitcoin also makes more money than multiple small sized European countries combined. Should we just stop allowing countries who produce less money than bitcoin to use electricity?...European countries have significant intrinsic value.  Bitcoin has zero instrinsic value.

BiTcOiN hAs No InTrIsIc VaLuE. You clearily don't know what you're talking about, you and whoever wrote this kind of articles. Disgusting how they look the other way about petrodollar but care so much about BTC. BTC is our freedoom and this is just the beginning #Bitcoin.....Since the end of Classical economics, the ENTIRE field of economics has rejected the notion of intrinsic value. We conceptualize value as being located in stakeholders’ sense making and reflective of their basic needs.


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