Freedom From Financial Enslavement Uses To Much Energy? BTC Energy MYTH
As you all know, Elon Musk excited the bulls back in February by accepting BTC at Tesla dealerships. Since then he has been hyping cryptos, particularly Doge. This didn't last long as yesterday he announced via twitter, that Tesla would no longer accept BTC, hinting at environmental concerns after months of bashing by crypto opposition, and misled environmentalists, many of whom are his customers.
Apparently freedom from enslavement by the fascistic central bank establishment isn't worth electricity. The crypto markets have been devastated since then, with $billions in value evaporating. The red candles don't really upset me to much, but *this myth pushed by the very people threatened most by crypto is absolutely infuriating.
First of all they deceptively use the word energy while claiming BTC uses as much energy as Switzerland. Not all energy is electricity, and they are clearly not taking into account any energy used in Switzerland besides electricity.
They somehow try to imply that Visa would be the greener choice because I guess the amount of electricity powering Visa servers is substantially less. Comparing transactions of dollars, to the entire monetary system of BTC is absurd. BTC transactions take little energy, it's the mining. or minting of BTC that is expensive. Visa doesn't mint dollars, they just facilitate transactions. The promotors of the BTC energy myth deceptively don't factor in the entire fiat system that props up the dollar, giving it value so people will use Visa to transact in the first place. Comparing BTC energy consumption to the entire monetary system would be the only accurate way to compare credit card transactions to BTC.
So the account for servers. Whoopdy freakin doo. How about the offices of the banks? The skyscrapers, all the way down to the smallest country credit union. How much energy do they collectively use? What about the 3rd party companies that work with the banks? The security contractors that keep their systems safe from attack, how much energy are their offices, and servers using? What about the armored truck drivers delivering the cash between banks? What about the ATM's dispensing cash? That is only the smallest tip of the ice berg.
How much energy is the US Mint using? What about the all the Federal reserve branches? Are they accounting for the electricity used during the countless monetary sessions, and debates on Capitol Hill that decides policy? It doesn't even stop there.
What gives the dollar value? at one point, it was backed by gold, but as those of us in the crypto world are painfully aware, the convertibility ended years ago. What has kept countries around the globe holding dollars as they are inflated away is the Petro Dollar system.. 90% of international currency transactions are in dollars, 60% of foreign exchange reserves are in dollars and 40% of the world’s debt is issued in dollars. This is because of a military alliance between Saudi Arabia, and the US going back to the 70's, where the US promised military and economic support if Saudi sold their huge amounts of cheap oil in dollars alone. They have had such a massive amount of the global oil supply for so long, that this forces every country to hold dollars.
That is right, the cost of the US dollar is literally the decades of war, bloodshed, and yes, ungodly amounts of pollution, and destruction of ecosystems caused by US, and Saudi wars. This is what props up the currency that Visa facilitates transactions in. These people somehow try to imply that ending this entire system of death, environmental destruction, while simultaneously ending the theft through inflation that has kept the world poor, is somehow not with the electricity consumption of Switzerland?
Then Elon musk is going to stop using it because of BTC mining? really Elon? Mining? The devastating effects if mining lithium hasn't kept you from making electric cars..
None of these critics ever seem to have problem with other wasteful energy consumption. How many servers are hosting the most useless websites? Is the electricity consumption of TicToc worth 30 second videos that are destroying out children's attention span really worth it? maybe we should turn those servers off. I hope Elon isn't advertising on any valueless YouTube videos, don't want his green company contributing to needless electricity use.
You can see this is a slippery slope, and it is no accident that bitcoin is attacked for the energy it uses to provide financial freedom, but not other energy consumption. This is supported by the financial establishment that is threatened by bitcoin. These people never criticize the governments energy use waging war across the globe, *but are up in arms when people want to bank for themselves. Don't listen to this garbage, and buy the dip.
Thanks for taking in my rant guys. You might be interested in some of the other posts I've put out over the last few days in DeepDives, and WeedCash like one of this Platinum OG I grew. Check them out if you have an opportunity! Keep it real ya'll.
Buy The Dip *-Daniel
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