I expect central bank digital currencies to become mainstream fairly soon. The advantages are obvious. The problem for crypto-currency adherents is that there’s no driving force behind owning them ex… (View Post)

It’s because BTC energy use is wildly out of proportion to the benefits. A single BTC transaction costs roughly $200 in energy. The fee is currently less than this because the miners get seignorage f… (View Post)

Not speaking for BR here, but BTC is a really terrible currency. At best it’s a private commodity that has no price anchor. There’s no there there except your ability to convince the next buyer that … (View Post)

Yes, Bitcoin is a negative sum game, thanks to the cost of mining. Economically it is a net negative, like gambling. (View Post)

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