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Over 2 percent of the US’s electricity generation now goes to bitcoin (arstechnica.com)

submitted 9 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Over 2 percent of the US’s electricity generation now goes to bitcoin::US government tracking the energy implications of booming bitcoin mining in US.

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[–] TypicalHog@lemm.ee 1 points 9 months ago (1 children)

I appreciate your opinion. But why do you think FIAT will survive and how?

[–] Sanyanov@lemmy.world 1 points 9 months ago (1 children)

I've kinda answered it already - because most governments will keep it alive by never ever going crypto. After all, this will probably be in the best interest of the general public as well, and it doesn't appear that concepts of going full crypto are popular among masses.

[–] TypicalHog@lemm.ee 1 points 9 months ago (1 children)

I don't think you understand my question. I'm not asking why governments will or will not ditch FIAT for crypto.
I'm asking you what makes you think FIAT will survive and not hyperinflate. And if you think so, why? Like, what will prevent USD let's say from bleeding out in terms of value, or even dying suddenly (by suddenly I mean hyperinflation that kills it in years time after it begins).

[–] Sanyanov@lemmy.world 1 points 9 months ago* (last edited 9 months ago) (1 children)

That's a job of central banks, and they normally manage it well enough. Sure, crypto offers more reliability on that front by making it impossible to control emission. But at the same time, this means money can't be printed when it would be highly beneficial for the economy, for example when recovering from economic crisis - without extra emission the country will be screwed up real bad. At the end of the day, the fiat emission is agile for good reasons.

[–] TypicalHog@lemm.ee 2 points 9 months ago (1 children)

I don't think money should ever be printed or burned. I guess we can only agree to disagree.

[–] Sanyanov@lemmy.world 2 points 9 months ago

Alright, let's settle on that.