Elephant dung was once used as ‘currency’. We’ll see how this works out. I think we have a power struggle between AI and BTC. Both use enormous sums of electricity and more each day. Both will stress the grid and force upgrades. Both cannot exist in the same space as currently configured.
Not a bad analogy, except that you can't convert data back into energy. Bitcoin might be the scent of elephant shit...a hint of something being there that really isn't.
Here's an interesting analogy. Suppose someone made a currency from ice medallions on which beautiful miniature paintings have been made on them from water-soluble ink, each one unique. You trade them by moving them quickly from one refrigerated wallet to another. There must be continuous refrigeration power to keep them intact and valuable. And then the power system blows out and there is no power. All your currency melts away, worthless. (People sometimes make the utterly ignorant statement that "information cannot be destroyed." Burn a book in front of them sometimes and see if they think it has not been destroyed.)
You just described our entire current economic system.
The only part you forgot to mention is that crypto is a far superior option compared to our current economic system for transacting quickly over long distances.
The superiority of physical money for local transactions doesn't change this.
Elephant dung was once used as ‘currency’. We’ll see how this works out. I think we have a power struggle between AI and BTC. Both use enormous sums of electricity and more each day. Both will stress the grid and force upgrades. Both cannot exist in the same space as currently configured.
I think the way that worked was that elephant dung could be burned for a fire.
And fire became electricity in terms of energy and heat? Just spitballing here. Bitcoin is the new elephant shit.
Not a bad analogy, except that you can't convert data back into energy. Bitcoin might be the scent of elephant shit...a hint of something being there that really isn't.
Here's an interesting analogy. Suppose someone made a currency from ice medallions on which beautiful miniature paintings have been made on them from water-soluble ink, each one unique. You trade them by moving them quickly from one refrigerated wallet to another. There must be continuous refrigeration power to keep them intact and valuable. And then the power system blows out and there is no power. All your currency melts away, worthless. (People sometimes make the utterly ignorant statement that "information cannot be destroyed." Burn a book in front of them sometimes and see if they think it has not been destroyed.)
You just described our entire current economic system.
The only part you forgot to mention is that crypto is a far superior option compared to our current economic system for transacting quickly over long distances.
The superiority of physical money for local transactions doesn't change this.
Even if the source elephant has diarrhea ?
KEK