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comment by kleinbl00
kleinbl00  ·  282 days ago  ·  link  ·    ·  parent  ·  post: BITCOIN IS LITERALLY DESTROYING AMERICA

I understand the basic problem: those electrical prices were created to foster industrial employment. They are not doing that. I would like to see the fine people of Plattsburgh employed. Bitcoin is not doing that, either. I would imagine it took some wrangling to get those credits and now the people who argued for them look foolish which doesn't help. Governments are less agile than corporations and corporations are less agile than individuals so a dude with a warehouse full of Antminers is gonna win every time.

And I can understand the basic problem: cryptographic hashing is not, at the moment, is not an energy-efficient method of security. Or, if you take the perspective that the government and military of the United States provide security of value for our currency, cryptographic hashing isn't good for employment either.

But fundamentally? Cryptocurrency is innovation and it's a direct consequence of the current financial structure. Cryptocurrency exists solely because reserve banks tilted the scales such that large corporations stayed solvent while small businesses and individuals got crushed. Cryptocurrency is a symmetrical response to the asymmetry of the financial system. And that's the basic problem here: if you're the city planner for Plattsburgh this shit came out of left field and negates all your holies. If you can't see the opportunities all you see is threats.