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Just 137 crypto miners use 2.3% of total U.S. power — government now requiring commercial miners to report energy consumption (www.tomshardware.com)

submitted 9 months ago by [email protected] to c/[email protected]

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

I’m not sure I get the point. Company is a broad term. I don’t see how MakerDAO is not a company.

Company is actually not a broad term, it's a legal term with a specific meaning. MakerDAO is not a company, it's a smart contract. If you want to use terms that loosely it's going to be difficult talking about this stuff.

Using crypto-tokens is simply a technologically vastly inferior way of tracking debts, not a new currency.

But ultimately that's the thing that you're arguing here, so you can't simply state it as a premise. That's the classic meaning of begging the question.

The apparent fraud is the only way this makes economic sense.

That came out of nowhere, this is the first time an accusation of fraud has shown up in this discussion. What fraud?

[–] [email protected] 1 points 9 months ago

Company is actually not a broad term, it’s a legal term with a specific meaning.

In what jurisdiction and what does it mean?

MakerDAO is not a company, it’s a smart contract.

Well, what kind of legal entity is it?

But ultimately that’s the thing that you’re arguing here, so you can’t simply state it as a premise. That’s the classic meaning of begging the question.

I'm sorry. I thought this was a well known fact. I don't know what I should assume about your background knowledge. You don't seem to want to be perceived as having none.

I don't believe this is anything I have argued for here. I have mentioned certain facts, mainly about the economics. It's perhaps best to stick to the matter at hand. But if you have questions, I will answer, of course.

That came out of nowhere, this is the first time an accusation of fraud has shown up in this discussion. What fraud?

Again, I'm sorry. I thought it was clear that I was referring to Tether. I see that one could think I was meaning MakerDAO, but I really don't understand it well enough to say.