One day all the bitcoin will have been mined. Then someday, all the bitcoin will be irretrievably lost due to lost passwords and hardware failure and loss.
Then someone will subdivide the last remaining satoshi into 100,000 million subunits.
If true, this ranks as the most idiotic cause of a power failure in history.
Just wait till someone mines asteroid bitcoin, flooding the market making all bitcoin nearly worthless.
It’s the nerds equivalent of rolling coal.
So bitcoin mining should be a responsible industry and rely on alternative power?
So the results would be slower, but it would get you there cleaner.
Bitcoin is one of the most literal examples of Orwell’s concept in Nineteen Eighty-Four that empires start wars in order to destroy surplus resources, as an end in itself
“Mining” is mathematical warfare and the equipment and energy devoted to it is wasted, thrown away, squandered—I can’t even think of a word that expresses how offensive and irresponsible it is
With all of the sanctions in place against the Iranian monetary system, Bitcoin is essentially the only way that people in the country can get “hard” currency.
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