Correct. Everything is built upon energy (see civilizationmetrics.org), mining is not special. And it is Bitcoin itself that avoids capital misallocation, which Bitcoin obviously cannot do while the world is still primarily run by fiat. Bitcoin mining as an industry actually mostly runs on a fiat calculus, energy contracts, fab access, etc, all 0% bitcoin denomination.
Derek's reply helps strengthen my point that this is a most retarded conflation and it is bearish for human civilization that these errors gain so much mimetic traction. It is logically equivalent to saying "Bitcoin does X thing I like because X is better. My favorite color is blue, so bitcoin mining will make every car blue since this minimizes energy." Total gibberish from people who have emotionally-driven narratives, no engineering backgrounds, but want to belong to the leftist statist cucks in some capacity -- Stockholm clinging, this is what drives the "renewables" people.
None of them have a clue what phase shift is, for instance, or the fact that you see idiots like Max Webster talking about 10x overcapacity 100% solar + batteries as his prediction for the world -- under sound money, Max would be mocked and ridiculed out of every room no differently from a BSV'er, but Bitcoiners obviously still feel rather weak and it shows.
Renewables have trash returns, and bitcoin will eliminate the uneconomical scams funded through violent robbery and theft. Enough!
Bitcoin mining does not "incentivize green energy", but I am happy for you being happy that the false narratives seem to be able to generate globally correct thoughts.
I am a simple man. I do not have these sorts of tactics built upon deception. ๐คทโโ๏ธ
https://heaviside.substack.com/p/bitcoin-mining-wastes-energy-but
Lmk when bitcoiners start building commercial aircraft. Perhaps the children of bitcoiners will be able to wrangle things like that.
In response to #[0]'s post on the history of maximalism.
"Balanced" takes like this stem from a failure to appreciate the extent to which fiat damages the world and just how much upside there is to a Bitcoin world.
It is a form of capitulating, and it is very obvious that many bitcoiners are only in it for sovereignty and consumer purchasing power, which are fine and dandy โ I certainly understand there is a hierarchy of needs, but the emergent systems built from freely cooperating individuals is where a sound economic calculus comes into play, and some people recognize the greatness that is coming, and thereby feel an adequate level of visceral repulsion to the degeneracy they are engulfed by.
Thank you ๐
#[0]
210 Years of Darkness on Bitcoin & Nostr
My latest and longest post to date on my infrequently published newsletter
https://heaviside.substack.com/p/210-years-of-darkness-on-bitcoin
The *implicit* error in your premise is thinking that mining is somehow special, and it is not.
EVERY technology and business must minimize input energy costs that go intot the thing being done. Bitcoin ensures that choices are made in this direction over time, by impoverishing those who fail to lower energy costs quickly enough.
HOWEVER, if every bitcoiner refuses to understand the fundamentals of technology itself, we will see fiat thinking repeated on bitcoin until bitcoin does its thing, via negativa, and the foolishness is drained out. But the foolishness can only drain out if there is somewhere for it to drain *toward*. And if 99.99% of the planet (really, the coins) insists in idiocracy (including OGs), the exit will be a small, slow one and civilization will slosh around in foolishness for 200 years!
Do people have the free will to choose a different path?
No... I am working on manufacturing the one true skillet. I want to see greatness in a sliver of the world today. Bitcoin teaches that there is always something better, and I must find it.
Interesting... why do they have physical possessions that could be seized from them by law enforcement? I thought the stance of anti-20kSatsInWoSers was the only sovereigns are naked monks with no possessions and memorized seed phrases.
No. Gold and silver acted a bit like on-chain bitcoin and Lightning in some ways: gold was simply too valuable for micro transactions such as buying a drink since it's hard to physically move, store, or measure a tiny fleck of gold.
As soon as you can operate purely on s2f factors via credit and checking banking by which the volumetric value becomes irrelevant, you have a fractional reserve so you are not *really* on a "gold" standard.
If you want to understand more about coinage, William Jevons' *Money and the Mechanism of Exchange* from 1875 goes through mind-numbingly excruciating detail of the compositions of all sorts of coins.
Anyway, the key takeaway is that silver still had monetary advantages over gold in some dimensions (divisibility), but neither has any advantage in any way over bitcoin. Nor does any other monetized asset class such as equities or real estate have any advantage over bitcoin within any narrow domain, so 100% all monetary premiums will be absorbed by bitcoin. RE & Equities have a monetary premium of >2x to put a conservative floor on it.
It must be repeated, for the fiat bitcoiner looks upon the growth of the world in absolute terms and seeks psychological comfort in ignoring what could have been. Will you embrace the alternative possible of the present? Let not the memory of wave functions collapse.
#[0]
Uhhh, this is a very weird thing people say when they are grasping at implications of Bitcoin. Luckily, I have figured out the answer to life, civilization, technology, energy, Bitcoin, and everything, for those who are curious.
https://heaviside.substack.com/p/bitcoin-is-the-energy-minimal-system
New Nostr marketplace client concept just dropped ๐ Do it for 3D printing too...
Yep. Fiat world causing instability, uncertainty, and capital misallocation means I am delaying having children and they will have fewer years with me before I die.
Few
It is impossible to know. Any time someone throughs out something it is just about the concept that there is some multiplier that could be very large. A single penny of buy pressure would trigger hyperbitcoinization if no one sold.
#[5]
"The mempool will never be empty again" is the new "we're never going under $10k again".
Not your nickel, find yourself in a pickle!
