Stop bitchin about it
https://ift.tt/OQrShzA
Completely manipulative argument.
1. Consumption should be measured against activity it enables.
The chart shows that Gold has emissions 3 times that of Bitcoin.
Yet it secures a Market cap of $13 T. BTC Market Cap is $0.8T.
Therefore gold has 16 X the economic activity, for only 3 X the emissions.
Making Gold 5.4 Times more efficient than Bitcoin.
2. Can the activity be accomplished any other way ?
I drove my 18 wheeler Semi to Costco today to do the shop.
Consumption was WAAAAY less than that of all the other Costco shoppers in America.
Obvious false equivalence. My argument there would be idiotic.
Someday, maybe, possibly….
If Bitcoin secures a Market Cap equal to Gold, for equal emissions, or better,
Then they have an argument.
So Messari gives, of their own volition, a graphic showing that Bitcoin is magnitudes worse than other industries, then concludes:
Bitcoin does a better job .
That is what you call Gaslighting.
Cryptocurrency
