Quote from: NUFCrichard on March 01, 2018, 10:33:25 AM

Quote from: chennan on February 26, 2018, 01:59:28 AM

The hilarious thing about comparing it to fiat though, is that in the case with the US dollar, the value of the dollar is based on trust in the state which is:

Ensured by the government, whom we can't even trust to run efficiently with our tax money (i.e: causing shut downs over petty politics)
Protected by the military, who wastes so much effort, time, money and resources on government "contractors", which is a shit show in itself. Seriously though... if you are interested in listening to a 1hr+ podcast on the topic I recommend listening to this one from Congressional Dish.
Purchase power of the dollar comes directly from our involvement in making sure that our currency is the currency all other currencies have to use in order to purchase oil, gas, etc (a.k.a. the "petro dollar") ... This is makes it funny just based on the amount of pollution that comes from carbon fuels.

fiat is the root of all evil in mind, and always will be until I'm proven wrong.

No one is disagreeing with what you say here, but it also has nothing to do with this thread!
Bitcoin is a massive waste of energy. All comparisons are unfair, as nothing else runs purposely so inefficiently. Bitcoin could be run on a laptop, instead it uses as much energy as a country.

I highlighted what I was initially trying to get at in terms of comparing fiat and Bitcoin and which one "wastes more energy". Yeah, if you are looking at the numbers at face value, you can argue Bitcoin "wastes" more energy, I guess, in terms of how much hash power is securing the network. You could also argue it doesn't take tetra watts upon tetra watts to print dollar bills, and that in it's self should be a good enough reason to confirm that fiat is the better way to go in terms of not "wasting energy" and therefor harming the environment, wasting resources, etc.

But if you see below what's at face value, and you see just how the dollar still has the ability to maintain any purchasing power whatsoever, you could see how there needs to be wayyyyyy more resources, effort, *energy expenditure*, etc. to make sure that 'country Xs' fiat money has purchasing power behind it on a global scale. Easiest one to compare in that regard is how the US maintains purchasing power, not because the global economy believes in the US economy; but it's more due to military strength and making sure the global economy basically runs on the USD in terms of purchasing oil, natural gases and the like.