How knowledgeable is he at investing or finance in general?
Been investing for years. :)
but criticizing price action when it's still well above the 2017/2018 peak over 12 months after reclaiming it is just silly.
They only watch the downs in the news - they aren't tracking the charts I think.
Learning how to take profit, or redistribute, is the most difficult thing
Tell me about it.
It is funny when you think about all of the zeroes needed and then, consider the likelihood of that happening. If it does happen, we have far bigger issues on pour plate to deal with.
So it's selectivity bias. Maybe you can get him to admit that a broken clock is correct twice a day? I guess I can forgive those people because they are easy to dismiss regardless.
It's the people who single out quantum computing or environmentalism that concern me the most because I have to hear out their arguments before tackling it since it has some merit.
I'm probably missing a few other things that need to go to zero for cryptocurrency investments to fail. As an added bonus, for POW to fail, we also need the cost of energy and computing to go to zero or become monopolized which is even more concerning.
Unless they are just catch-phrasing it and don't really know what they are talking about. In regards to the environment, I asked Arcange to do the rundown on Hive nodes. A full and a half node burns about as much electricity as a 100W lightbulb - I guess people are willing to stop charging all of their devices to save the environment? :)
Yeah, it isn't going to be pretty if crypto fails! :D
My BTC full node is running at about 7 watts which is like a weak LED bulb. But the desktop I use to access Hive is probably consuming 200 watts when it is on. I think it's the mining of BTC they are concerned about because that seems like an easy target. The company I invest in uses flare gas to power their big rigs. If you are going to flare it (not BTCs fault), someone may as well convert it from CH4 to CO2 first. I know of people on individual levels who use them to heat greenhouses and water. Loads of people just straight up heat using fossils and electricity, no harm in doing math equations with it first.
In anycase, we have to compare the energy use of the entire system. Crytpo uses something like 0.1% of global energy but is worth 2T. Anything else worth 2T is going to use a lot more than 0.1% of global energy.