It will be a short future. The analyses I've seen peg their doom as being only a few years away at the present growth in electric power requirements to sustain the blockchain mining. Why don't you sit down and get your head around this problem, instead of jumping on your charger and prophesying victory?
Oh, yeah. "Global corruption" has hidden away vast reserves of electricity. It is all out in the open. There is no secret cache of electricity. It requires the construction of powerplants. When the blockchain computational requirements ramp up to the power demands of a small country, the cost of running that power will have to be paid somehow. i have read that crypto mining centers are commissioning their own powerplants to sustain the mining. When you require geometric consumption of a resource to sustain a linear increase in product, the collapse is built into the mathematics. It is a more technological form of Ponzi scheme, built on the premise that the ultimate future accounting will not happen...or will happen so far in the future that we can rape the present as much as we want. Kind of like Keynesian economics. If you are fond of this sort of thing, you won't have much of a future.
Who do you think is going to pay for this power usage? A bitcoin does not represent an asset. It represents a sunk cost. And you are paying for it by tendering assets.
You will have to get used to what happens when electricity is not available. You have no idea what hard times look like. My wife and children are experiencing that in Zambia, with a power drought and an erratic internet. Near-instantaneous is a fragile luxury and will be the first thing to go. So, your options are an empty set.
As it is, Western Union wire transfers are near-instantaneous over long distances, in cash, so that is an option that millions of people are using all the time. You don't have much vision with which to see.
It is easy to transmit nothing...and that is what cryptocurrency is.
It will be a short future. The analyses I've seen peg their doom as being only a few years away at the present growth in electric power requirements to sustain the blockchain mining. Why don't you sit down and get your head around this problem, instead of jumping on your charger and prophesying victory?
Oh, yeah. "Global corruption" has hidden away vast reserves of electricity. It is all out in the open. There is no secret cache of electricity. It requires the construction of powerplants. When the blockchain computational requirements ramp up to the power demands of a small country, the cost of running that power will have to be paid somehow. i have read that crypto mining centers are commissioning their own powerplants to sustain the mining. When you require geometric consumption of a resource to sustain a linear increase in product, the collapse is built into the mathematics. It is a more technological form of Ponzi scheme, built on the premise that the ultimate future accounting will not happen...or will happen so far in the future that we can rape the present as much as we want. Kind of like Keynesian economics. If you are fond of this sort of thing, you won't have much of a future.
Who do you think is going to pay for this power usage? A bitcoin does not represent an asset. It represents a sunk cost. And you are paying for it by tendering assets.
Propose an alternative solution for near-instantaneous long distance transfer of funds for when shit isn't hitting the fan.
The only options I see are fiat, crypto, or nothing.
You will have to get used to what happens when electricity is not available. You have no idea what hard times look like. My wife and children are experiencing that in Zambia, with a power drought and an erratic internet. Near-instantaneous is a fragile luxury and will be the first thing to go. So, your options are an empty set.
As it is, Western Union wire transfers are near-instantaneous over long distances, in cash, so that is an option that millions of people are using all the time. You don't have much vision with which to see.
It is easy to transmit nothing...and that is what cryptocurrency is.
Nice dodge.