Cryptocurrency: Costs of Fiat are Unsustainable Not Crypto, Privacy, Freedom

[grarpamp]

On 9/27/20, Stefan Claas <sac at 300baud.de> wrote:
> grarpamp wrote:
>
>> > While I must admit that I am no longer a fan of crypto
>> > currencies (huge global energy resources waste IMHO)
>>
>> And what analysis are people basing that on?
>
> Please do a Google search with this string:
> 'crypto currency global energy waste' and you will
> find various articles.

Please provide a link to even one such result that gives
a fair whitepaper (or even a good Joe napkin) estimate
of the ALL-IN comparative costs between Fiat vs Crypto,
as described in the post to which you have replied.


> Not to mention that Bitcoin mining is nowadays for the
> average joe user absolutely not profitable.
>
> https://www.cryptocompare.com/mining/calculator/btc?HashingPower=40&HashingUnit=TH%2Fs&PowerConsumption=1500&CostPerkWh=0.12&MiningPoolFee=1

That link person could buy mining contract in better
$/watt location, or invest in own long term solar ROI,
or build better efficient power plant, or terminate or route
around local GovCorp pricing interference... many options.

There is some function on the Joes ability to equalize against
centralization coming from millions of Joes being willing
to contribute small amounts in extra cost to ensure their
their own holdings and network utility. Those smalls can
aggregate much larger than central miners and put them
out of business. Did you watch "Larken Rose - The Tiny Dot".
The Joes have not yet realized they could mobilize that.
They've hardly yet considered shifting adoption back to
ASIC hard, thus gaining more universal access to
distributed CPU mineability of CPU based coins.
Or contracting among all themselves to outbid, soak up,
contract out, and evenly distribute ASIC production.
Or build their own #OpenFAB's on which to print #OpenHW.
So many options no one has even taken much step
to become free.

And just like all Fiats, coins that fall into centralization
will eventually die a worthless death. Coins, even Kings,
that want to remain relavant will naturally avoid that.

That and many other possible future stages of cryptocurency
dynamics hasn't even begun to play out, let alone be fully
cataloged and recognized as possible outcomes.

Nor will there ever be a just one single coin.
Nor will any of todays leadeing coins likely to be around
10-20 years from now.

> Check the prices, for example, for those Bitmain Antminer's
> and compare that when all began and when mining Bitcoin was
> profitable.

Good cryptocurrency is highly dynamic and self balancing
systems. It was always known that margins would
decrease over time. And that other factors would come
in and out of play as time goes by. But the good systems
would remain balanced resilient and decentral.

Still very early days, not even second gen technology
adoption yet. So go make second gen coin technology
that kills off the first and BOOM, there is your
"like when all began" profitability for you again :)

Go start a services business that people like, BOOM, profits :)

Your suggested was about "energy" not "profitability",
though they are related in some aspects.

> And regarding privacy, I do not like the fact that on a
> Bitcoin Blockchain Explorer everybody can see your account
> balance and what transactions you have made.

That is a very valid point, tell that to the Bitcoin-BTC people.
No one does like that, except spies, especially nasty Govt
spies, and people who vote for that to try to force you
to do what they want from you.

You can coinjoin, coinswap, coinshuffle, coinfusion,
swap, mix, and DEX some non privacy coins like
Bitcoin-BTC. Some of other coin families can too.

Strong cryptographic levels of privacy is important
and valuable, that's why some protocol based
privacy coins now exist, and why newer ones will be
coming forth in the future.

For that matter, what many believe to be the "wrong"
kind of "everyones" and "untrustworthies" can already
see, get access to, steal, partner give away, censor,
lockdown your central GovCorp bank account balances,
paypals transactions, install more counting machine
tracking points for paper bill serial numbers, etc too.

So which spy poison source do you want, non-private Fiat
forever (chosen on false energy claims), same poison
in today's non-private crypto... or potential better
future 2x win with privacy crypto?

Gold is pretty private, but has storage and transmissiblity
tradeoffs to consider. Chickens, tradegoods, etc their
own tradeoffs as well. Use crypto and all those and
trade between all as needed.

You can also securely and privately hawala chickens if you
have a strong private crypto comms system. And if you have
a strong private crypto comms system for that, then you
already have many parts of a strong private cryptocurrency
system.

Crypto is here... best push Libertarian Voluntary Anarchy
Freedom now in more than just crypto area of life, else it be a
very bad slavery trap to escape, CBDC's will be much worse
than Fiat System already is, "Energy" and "Environment"
will be the least of your concerns at that point.

Have fun and best success in the freedom fight :)



ps: Did you know you cannot speak of actual freedom
on the censored Liberation-Tech mailing list? That is
hypocritically sad as well.