55K views · Feb 5, 2021 · 5:38 · 3 HN recommenders · 5 mentions · discussed 2021
A Reason TV segment, drawing on Alex Gladstein of the Human Rights Foundation, argues that Bitcoin works as an escape hatch for people living under authoritarian governments and inflating currencies.
Why Hacker News points people here: HN commenters use it in crypto debates as evidence that Bitcoin matters for people in unstable-currency countries.
“Actually it's pretty important for many”HN comment, 2021
“So you decide whats a waste of energy then? Here watch this”
So you decide whats a waste of energy then? Here watch this: this video Bitcoin mining allows energy companies to de-risk an investment in green energy solutions such as solar. If you place some miners onsite you always have full demand (which is a problem during peak production times). Bitcoin mining is a energy revolution.
“Actually it's pretty important for many”
Shows Bitcoin's importance for people in inflating-currency countries.
Actually it's pretty important for many: this video It's being widely adopted in countries with inflating currencies: Nigeria, Vietnma, and Argentina made it to #3 today (this link is slightly old). link
“here's a couple of videos which might help you to understand it better.”
Helps understand Bitcoin's role in individual freedom.
Individual freedom and sovereignty are more important to society than electricity. I'm pretty sure you haven't thought of Bitcoin in that way, or how Bitcoin might enable this. Importance is subjective, but I think most people would choose freedom over electricity. After that, we might argue whether Bitcoin would actually be helpful in enabling this. It's not a simple concept to explain so here's a couple of videos which might help you to understand it better. Bitcoin Is Protecting Human Rights Around the World: this video Philosophy of Bitcoin from First Principles: link
1. You don't decide whats a waste of energy or not. 2. this video 3. Bitcoin Mining will make investments in renewable energy a lot less riskier as you can scale up as much as you want and always have a buyer. This drives out fossil fuel miners 4. Once bitcoins true price has been found, holders will spend to consume as much as they need/want to. Just like every other currency, except without the inherent need to spend(fixed issuance)
“Not everyone gets paid in a stable currency or has easy access to it.”
I think from a scientific view, allowing and observing the experiment bitcoin is extremely interesting. Nothing like it has challenged economic thinking in the last decades. It is very productive for a large population of the world.[0] Not everyone gets paid in a stable currency or has easy access to it. [0] this video
