Hey Jessatoshis
As Bitcoin continues to grow, the incentive to mine Bitcoin increases, the network requires more security as it stores more value, and miners are looking at finding unused or untapped energy resources all over the world. The thing with energy is it's not easy to transport; it can only support a certain range from where it is being generated.
Many of our major cities are built due to things like proximity to ports, mines or freshwater sources. But that doesn't mean they always in proximity to energy sources.
As we humans create new energy and latch it onto the global grid from fossil fuels, natural gas, nuclear, solar, geothermal, marine and tidal, wind, and hydro, not all of that can be properly monetised.
Unfortunately, we don't have the battery technology, and even if we did, it has its limitations. The issue here is that Bitcoin can be the best way to monetise that wasted energy, and people simply don't like that.
What if we let Bitcoin monetise wasted energy
So let's say you want to start a mobile mining operation or a mining operation moves into an energy source near you; what do you suppose they do? Create jobs, of course.
When they create jobs, they provide people with an income, that income is spent, which encourages other businesses to be spun up to support it.
As with mining towns of the past, where people struck gold, towns were built to support and then exhaust the mine faster, but that's beside the point.
I think that if people are allowed to monetise these various energy sources that they would not only attract people out of cities, but it could reshape old towns, build new towns, decentralise population centres and give us all a better standard of living.
Centralise cities
All over the world, we see cities become more populated, more crowded, more competitive, and prices are skyrocketing, and the cost of living creates more poverty than it solves.
People remain because this is the most likely avenue to tapping into the money supply; the big cities are where the banks are, where the governments are, where the spending happens, where the infrastructure s built and maintained.
So people are forced to stay and compete for access to the flawed way we distribute capital.
Decentralising goes further than the ledger
Perhaps I am a dreamer, but if they have more places that are energy independent, that can provide for themselves, they will attract talent if that energy can be monetised. Once the energy is monetised into something like Bitcoin, it allows for an economy to be build from what is procured in that area.
We could see an exodus from the city; we could see better use of land; we could see affordable land home prices and an improved standard of living for all.
Have your say
What do you good people of HIVE think?
So have at it, my Jessies! If you don't have something to comment, "I am a Jessie."
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well i don't really know if that will be possible for bitcoin to have it's own town and economy. Yes bitcoin have the population to generate such traffic but i do not see possibility in that.
So you don’t think Bitcoin beach or the fact that it’s legal tender in El Salvador means anything? You don’t think the people generating jobs via mining in various parts of the world can be scaled?
Rock on Garth !!
Happy Father's Day ... USA style ... i guess bullshit style.
BTC still in the hangover phase, fingers crossed.
Do U hv any children?
I have 3.
Peace * Love
Thanks for the drop in and the drip in my wallet lol no kids yet can’t afford em lol my ass is way to broke just Tryna graft it out here and secure some Bitcoin lol
Happy dads day mate! Hope it was a good one
ty ... ow, put in my last big chunk of fiat yesterday, and down another 10% ... nothin' to do but hodl now for awhile ... gl
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I can see a lot of people have spent their capital you can tell from the internet at the order book looks! I loaded up now as my limit orders got triggered I set one now at 24k! Let’s see what you got China
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BEER.Well I think I may have said it before but I think that BTC won't be the actual currency used in daily life. The deflationary aspects just doesn't make sense to me as a good way to incentivize a bustling economy. Until that aspect is solved, I don't really think using it there is good enough. As a alternative form of payment, I do think BTC might work but I just don't think it can be the main form.
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Lol do you really think the CAGR can be 100% a year forever? No as it absorbs more monetary energy the CAGR will continue to drop until it’s well below the 1-2% mark!
When it takes trillions to move the price and if we do get there you think anyone’s going to be measuring in USD? Lol
This isn’t going to happen overnight why does everyone think you build a bee economy with a flick of a switch lll
Well yes anything is possible so long as there is enough time. At least for me, I think energy costs will just continue to drop over time. So yes you would be able to use the wasted energy as an argument but I don't exactly see how it would really be able to outpace the deflationary aspect of technology.
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You do realize you’re making the exact same argument for fiat, fiat inflates at different rates around the world and people still use it
The thing With a deflationary currency you make a decision is the saving return I’ll get for the year worth more than what I want to buy! You only have so much time on the planet and so you will have to spend
It took me a while to get my head around it but once it did it all started to make sense
My issue is mainly that deflationary currencies only incentivizes savings. It does not work well in my opinion about running a solid economy. An economy obviously requires people to be spending otherwise there it won't work very well. For me, I would say the deflationary aspects do make it a good store of wealth.
In the end our economy functions more based on jobs and wages. The way jobs and wages happen in the future might be different but I do expect there has to some way to show the jobs. If people are unwilling to spend, then economic development will be stifled. If that is the case, then I don't really consider it a good hub for activity.
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Why is saving such a bad thing? I don’t understand why saving money and only parting with it when it’s worthwhile isn’t better than the mindless Consumerism under a inflation standard.
That’s a fallacy that the economy requires spending, in fact in a deflationary economy people only pursue tasks that the economy actually needs
This idea that everyone is just going to sit around and save themsleves into starvation is just dumb
There is nothing wrong with saving but I think this stifles technological development. In fact I think with technology, the costs of foods, transportation and energy will drop. Also automation is coming for a lot of things and will probably take over most of what the economy needs.
Also the idea of what an economy needs is a vague question. Does this mean art will be thrown by the wayside since it would be worthless? I guess entertainment would also be thrown away if people just want their basic needs satisfied. I don't expect anyone to just starve but I am just stating my opinion that the deflationary aspect just doesn't seem to push technology forward as much.
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The recurring theme of Bitcoins energy usage is important to talk about.
Second I think the experiments along Bitcoin Brach in El Salvador have shown that your idea of increasing economic self sufficiency with Bitcoin can work. And although Bitcoin is expensive it’s easy to price things in Satoshi and using the lightening network and satelites feeds you can cover large geographic areas with one node.