Re: Peter Zeihan - in a world of carbon taxes, cryptos net worths is negative
Im a fan of Peter Zeihan and in general agree with many of his arguments, such as China collapsing by 2030 due to demographics and Germany falling down the economic ladder fast due to its reliance on ever-more expensive fossil fuels. So that's why Im torn on his views on crypto - hes usually right.
He sounds like a FUDster. China collapse by 2030? That would entail that every other country that relies on Chinese production would collapse too. A war would ensue before that could happen.
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He goes on to say "crypto is the poster child for the environment from 1990 - 2022 when we had unlimited volumes of capital. Now with that the money is going away, crypto is going away"
"Money is going away"? Did he mean to say Quantitative tightening? The Federal Reserve will pivot as early as March, 2023 if inflation would drop quick enough. The printer will be back, and the money will flow ser.
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My take on this is that yes, while there will be less capital going forward, fiat is still created at the whim of commercials banks, therefore the idea of a digital cash that cant be debased is a powerful one.
It's not "on the whim of the commercial banks", it's the FED.
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On future carbon taxes, which I agree with, the bitcoin network can easily operate on a fully renewable grid - the problem with renewables is they are intermittent and the energy requires storage. Neither of these limitations apply to the Bitcoin network.
at 53min 20 - https://www.youtube.com/watch?v=aHUoMmKDLUI
I believe that in a few more years, many countries will discover that, LIKE GERMANY, pursuing the dream of having their energy sources from mostly renewable sources is a MISTAKE. They are simply too unreliable.