Bitcoin (BTC)Money future? This is the question that famous psychologist Jordan B Peterson asked in his podcast “Bitcoin: The Future of Money?” tries to answer. The episode features some of the major Bitcoin proponents, including John Vallis and Robert Breedlove.
“It is a very interesting idea that somehow bitcoin provides a language with better fixed value than gold,” Peterson said in his podcast. The psychologist, known for his book The 12 Rules of Life, among other things, asks his guests to share their opinions with him so that Peterson can better understand Bitcoin. It sums it up nicely:
“So Bitcoin is completely transparent. It is fully distributed. There is no central authority. It cannot be cracked. It cannot be stolen. He does not see any inflation. Inflation cannot increase. It is not subject to any form of explicit management scrutiny.”
“Bitcoin’s energy consumption is worth it”
Bitcoin energy consumption is also discussed. Many Bitcoin opponents and critics cite Bitcoin’s energy consumption as one of the reasons why the network is bad. But that’s very short-sighted, according to his guests. So says Der Gigi, a Bitcoin programmer:
Society in general asks these questions about all kinds of things, are cars worth it? Are smartphones worth it? Is the internet worth it? “
According to Peterson, it is worth it because Bitcoin can improve the efficiency of the system: Bitcoin as a transaction device.” Peterson concludes:
“So there is a net energy gain and no net energy loss if you calculate it across the entire system. And so it is a mistake to only consider the cost of creating Bitcoin without looking at the efficiency that Bitcoin will bring.”
You can find the entire podcast below!
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