Transaction

f02fae05ffef39321cf43521f9cbc574f0f736f204bec7c89d062aee50fb4e73
Timestamp (utc)
2024-03-27 19:25:59
Fee Paid
0.00000019 BSV
(
0.00708678 BSV
-
0.00708659 BSV
)
Fee Rate
10 sat/KB
Version
1
Confirmations
91,904
Size Stats
1,900 B

2 Outputs

Total Output:
0.00708659 BSV
  • j"1LAnZuoQdcKCkpDBKQMCgziGMoPC4VQUckMo<div class="post"><div class="quoteheader"><a href="https://bitcointalk.org/index.php?topic=721.msg8114#msg8114">Quote from: satoshi on August 07, 2010, 05:46:09 PM</a></div><div class="quote">It's the same situation as gold and gold mining. &nbsp;The marginal cost of gold mining tends to stay near the price of gold. &nbsp;<b>Gold mining is a waste</b>, but that waste is far less than the utility of having gold available as a medium of exchange.<br/><br/>I think the case will be the same for Bitcoin. &nbsp;The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used. &nbsp;Therefore, <i>not</i> having Bitcoin would be the net waste.<br/></div><br/>I agree with nearly everything you said, but I disagree, fundamentally, with the bolded.&nbsp; Gold mining is not a waste of energy.&nbsp; It is the opposite of waste, it is the measure of value people place in the 'utility of having gold as a medium of exchange' or a store of wealth, jewelry around their body parts or connectors on their home theater system.&nbsp; If there was no demand for gold, the price would be zero.&nbsp; Hence it is not a 'waste,' by definition.<br/><br/>I object strenuously to this idea, promulgated by the Monetarists, that the production of money is wasted capital which could be spent on other wealth-building projects.&nbsp; It's a short-sighted argument which does not fully encompass the value we place in our money.<br/><br/>It's semantics, yes, but the negative connotations associated with the word "waste" is a tool of the money masters designed to confuse us and elevate their bankrupt system.<br/><br/>Ta,</div> text/html
    https://whatsonchain.com/tx/f02fae05ffef39321cf43521f9cbc574f0f736f204bec7c89d062aee50fb4e73