RE: When the Miners stop
Bitcoin will never transition. Bitcoin is already a dinosaur; an anchor that the rest of the space can trust to always stay the same. The entire community profits from Bitcoin's consistency. There is no need to change it. It simply will stop being the #1 coin, but it will still have great value.
If you had a ship, the anchor is very important, but it is certainly not the most valuable piece of equipment you have. Bitcoin is the anchor of crypto. We need it to feel safe and grounded. We need it to get the rest of the world to board the ship. Once we have mainstream adoption, the security and brand-trust that Bitcoin provides will no longer be the #1 priority of the space.
Also, when you think about it, the Sun provides infinite energy. It doesn't matter how much energy Bitcoin consumes if that energy is renewable. This is a problem that's going to solve itself.
@edicted @mstafford this is a little bit in the realm of Conspiracy, but have you two ever heard of Wardenclyffe, Nikola Teslas Tower? Rumour has it that this was supposed to be a wireless ENERGY transmission system, but when JP Morgan who was a financier of the system found out it was a 'free' energy system that could not be metered, he branded the thing as a death ray and had the whole project scrapped. Basically the idea was that this system was generating electricity from water running underground in aquifers, harnessing the electrostatic energy that this (constantly running) water generate and was able to transmit this WIRELESSLY, hence not being able to meter it.
Like I said, that's all fully in the realm of conspiracy, but since we're already on that route, I'll take it a step further and mention that I watched a video with seemingly strong compelling evidence that the ancient Egyptians knew as well how to harness this, the pyramids not really being tombstones but rather.... power plants! The evidence being things such as a graphite tunnel(graphite being an amazing electrical conductor) running very deep underground... As well purportedly the hieroglyphs inside the pyramids, the walls are all clean and if they were using burning torches to illuminate what they were doing in there, there would be soot everywhere on the walls/ceilings which there is not I guess. Also there was I guess a giant gold capstone at the top of the pyramid, which has since been missing... I mean... who wouldn't want a giant gold pyramid capstone?? ;) The idea being that ancient civilizations were more primitive than we are and we are like the 'pinnacle' of technological advancement may not be as accurate as our modern day narratives say... BUT HEY... THAT'S ALL JUST A CONSPIRACY... But it makes you wonder when this is on the money:
I think some of that is fact.
At 3:40 of this Drunk History clip:
Obviously, Drunk History is the foremost authority of truth :D
The dinosaur / anchor analogies are good -- and I think you're on the money with that.
However, your point of the Sun providing infinite energy (while true) is drastically far away from being taken advantage of. I would suggest that it's not a problem that is going to solve itself (especially when considering some of the recent reports stating the required timelines to radically reduce emissions). It would be ideal if bitcoin mining operations were all fusion and solar powered -- but it's a bit unrealistic to expect that any time soon.
It's been shown that printing money and even just minting pennies takes more energy and resources than Bitcoin.
The value, trust, and portability that Bitcoin provides is worth more than ten times as much energy as we are currently putting into it.
The whole energy consumption argument in opposition to Bitcoin is totally fabricated fake news. It's the same as when economist Dr. Doom tries to tell us that it would cost $60 to buy a cup of coffee with Bitcoin. These people are overreaching as hard as they can to stop crypto from going mainstream because they know it will cripple the establishment.
The fiat currencies in Venezuela, Iran, and other middle eastern counties is already doomed. Central banks no longer have the means to hit the nuclear winter option to stop the bleeding. Fiat will continue to bleed into crypto until it finally bleeds out, starting with the weakest economies first.
You really have to wonder if these weak economies are going to come out on top because they were FORCED to transition to this superior system sooner.
I haven't seen anything backing this -- but I wouldn't be surprised if it were accurate. I think people often forget that the metal coins and paper notes they use have to literally be mined/refined/cast/processed/counted/distributed to be used -- and a similar, though different, process for paper/trees (or plastics for todays polymer based notes).
I agree with you that probably, the problem is severely overstated -- and likely for selfish reasons on the part of traditionalists / banksters. That doesn't change the fact though, that there appears to be a more sustainable solution (and like all things, probably even better solutions to come in the future).
Good chat!
Haha! Good chat indeed! Sometimes I forget I'm not even that bullish on Bitcoin. I'm holding zero Bitcoin right now and half my stake is in Steem. We are so undervalued it's not even funny.
I'll admit to being pretty ignorant about the rest of the "crypto-space"...
Throughout my life I find myself getting swept up in trends / fads / other stuff that eventually becomes popular (at least where I live). I think the fact that I'm on here, interacting with people via blog posts, polls, card games, videos, streamcasts, photos, and other stuff (as well as developing my own project) is evidence to the utility (or at least functionality) that Steem has.
It certainly seems like it's the most accessible coin/token/project out there. It might be a bit confusing, but I think that's par for the course for the entire 'crypto-space' (of which, again, I know very little about).