443: A Storm of Asterisks
Accidental Tech Podcast
00:00
The Unintended Externality of Bitcoin and Cryptocurrency
Bitcoin is an example of externalities, right? So the technology is there and it's like, oh, and the externality that we met, we just essentially made it profitable to burn energy. As long as you make more in Bitcoin than you spend an electricity, it is a profitable endeavor. And people do. It makes sense from our financial perspective, but from a like, from a earth perspective of like, so what value are you creating? Well, it's kind of like a pyramid scheme and some people get rich.
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