TL;DR
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Is cryptocurrency simply foolish web cash? Or is it a life altering expertise?
…porque no los dos?
Certain, to the cynical eye — Bitcoin (and each different cryptocurrency in existence) is only a glorified shared Google Sheet, updating who-owns-what imaginary foreign money in actual time…
That’s the ‘in opposition to’ argument ☝️
Now…
Right here’s the ‘for’ 👇
At their core — all fashionable currencies (whether or not crypto or fiat), are tracked this fashion…nevertheless of us don’t worth cryptocurrencies like Bitcoin due to their similarities to fiat, however due to their variations.
E.g. Bitcoin has no center males (banks), can’t be managed by anyone entity (governments), and has a hard and fast provide (which implies it tends to go up in worth over time, as a substitute of down).
Right here’s a special approach that may be added to the ‘for’ argument👇
Shopping for and holding Bitcoin has executed nice issues for many individuals over time, however “The Huge Empty” documentary by Will Foxley simply highlighted a brand new avenue for Bitcoin to do social good.
(One which we hadn’t actually thought-about but).
Bitcoin mining operations at the moment are trying to construct mining operations in small cities round Texas.
Just like the city of Spur, the place a lot of the large industries are lengthy gone, however have left behind overbuilt energy stations, resulting in cheaper power.
(Which is like catnip for Bitcoin miners).
Cities like Spur do not usually have many excessive paying or steady jobs, however BTC mining operations can usually carry 100 or so well-paid positions — each quick and long run. Suppose: building, upkeep, restore techs, safety guards, and so forth.
“Even simply fascinated by the power, they plan on opening up a kitchen to feed the 40 staff there. That is going to be like 5 to 10 new jobs.“
– Will Foxley
Bitcoin mining: it ain’t a lot, however its sincere work.
