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callebbb t1_iy29xfo wrote

Reply to comment by themangastand in News Release: NREL Creates Highest Efficiency 1-Sun Solar Cell - 39.5% efficiency by TimeSpentWasting

If the grid has a buyer of last resort. This is where Bitcoin mining comes in handy, and is why it will help revolutionize modern grid economics.

There are tens of thousands, if not hundreds of thousands, of terawatt hours of energy, totally stranded. No way to monetize, thus never developed. The development of those assets will now have nigh-instant monetization. All you need is an internet connection.

This means sources of generation can be financed with a much shorter time horizon to cash-flow positive.

This means revolution.

I suggest, before you come at this take in a hostile fashion with pre-conceived notions, dig into Bitcoin a bit. Technically, it’s a marvel. The internet of money.

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k0bra3eak t1_iy2xbco wrote

Tell me more about FTX then

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callebbb t1_iy3hmi4 wrote

FTX is a perfect example of the folly of man. People took a decentralized money, where no trust in counter parties is necessary, and put it back in the centralized box.

FTX was a scam pretending to be an exchange. Ultimately, the users who withdrew their Bitcoin the moment it was purchased were unharmed.

A failure, no doubt, but not due to Bitcoin. It’s also not the first time this has happened. It will happen repeatedly, until people realize Bitcoin is a bearer asset, and they must take custody of their own money.

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callebbb t1_iy3odvj wrote

People want to believe there is something strikingly different about the Federal Reserve Bank (a private entity) and the Dollar. It really is just another shitcoin produced by insiders for nothing. Meanwhile, we have a sound money that is a technological innovation that won't be outdone for awhile, with no insiders, no permission required, no middlemen, no reliance on physical security or power projection, real scarcity, digitally native.

The cost to produce $1 is the same as producing $100 or $1 Billion or $6 Trillion.

Humans have trouble thinking in exponents... I use this example to show how large of a number $1 Trillion is compared to $1 Billion.

A million seconds is about 12 days.
A billion seconds is about 32 years.
A trillion seconds is 32,000 years...

The cost to produce example goes for every FIAT currency that exists globally. They are all digital ledger entries. And it is a permissioned landscape, wherein if you become an enemy of the state (easily these days), you are ostracized. Look at Kanye. Look at Venezuela. Look at Romania. Look at Turkey.

Billions of people NEED something like Bitcoin. The modern financial landscape excludes them, on purpose. For an in-group to exist, there must be an out-group.

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