this post was submitted on 03 Feb 2024
398 points (94.8% liked)

Technology

59148 readers
2310 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
398
Over 2 percent of the US’s electricity generation now goes to bitcoin (arstechnica.com)
submitted 9 months ago by [email protected] to c/[email protected]
159 comments fedilink hide all child comments
 

Over 2 percent of the US’s electricity generation now goes to bitcoin::US government tracking the energy implications of booming bitcoin mining in US.

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 1 points 9 months ago (1 children)

I don't think you understand my question. I'm not asking why governments will or will not ditch FIAT for crypto.
I'm asking you what makes you think FIAT will survive and not hyperinflate. And if you think so, why? Like, what will prevent USD let's say from bleeding out in terms of value, or even dying suddenly (by suddenly I mean hyperinflation that kills it in years time after it begins).

[–] [email protected] 1 points 9 months ago* (last edited 9 months ago) (1 children)

That's a job of central banks, and they normally manage it well enough. Sure, crypto offers more reliability on that front by making it impossible to control emission. But at the same time, this means money can't be printed when it would be highly beneficial for the economy, for example when recovering from economic crisis - without extra emission the country will be screwed up real bad. At the end of the day, the fiat emission is agile for good reasons.

[–] [email protected] 2 points 9 months ago (1 children)

I don't think money should ever be printed or burned. I guess we can only agree to disagree.

[–] [email protected] 2 points 9 months ago

Alright, let's settle on that.