rehobothfarm ● The big problem with bitcoin

Sep 28, 2018: rehobothfarm

The big problem with bitcoin specifically is that mining takes so much electricity. All of the good mining equipment is made in China AND despite their want to prevent their own people form using bitcoin they subsidize electricity for mining. So. The Chinese basically control bitcoin mining now. Other 'coins' have fewer issues because they can be run on commodity hardware but you have 'money' that is only accessible by computer network. Anybody see a problem with that in a grid down situation? If you don't have physical possession of it you don't own it. Same goes for gold and silver. If you have 'paper silver' or 'paper gold' you can use it for what paper is good for in that situation.

The Kozlowski Family
# Time
 1 Fri Sep 28, 2018 rehobothfarm ● The big problem with bitcoin