392 sats \ 2 replies \ @kepford 12 Nov \ on: Ethiopia Earns $55 Million from Bitcoin Mining Deals in 10 months bitcoin_Mining
Before Darth comes in here and tells us all that this isn't good news... because after all its a state that is doing this and the state is evil. I'm anti-state.
This is the game theory playing out as was foretold many moons ago. The state doesn't just fall over and say uncle. If bitcoin is what we believe it to be states will do these types of things. The most evil in the world will use bitcoin. When I see news like this or Trump winning I'm not happy because I want the state to mine or hold bitcoin. I'm happy because we are moving towards the actual end game. This is just a point along the path.
It doesn't matter who mine those BTC.
It matter who owns those BTC.
And in this particular case, I think Ethiopian gov is just selling the BTC mined for more fucking fiat. I didn't see them PAYING people with those BTC, I do not see them "building roads" with those BTC.
People do not ask the important question in these cases: WHO the fuck is the gov? And where the BTC goes?
If a gov start mining BTC, is perfectly fine. nothing wrong with that. But the important thing is IF they start a bitcoin circular economy with it.
And the article it says very clearly: they sell electricity to mining companies. Not that the gov itself is mining. It's a big difference.
reply
Its not about what is wrong with it. Bitcoin don't care. Bitcoin is permission-less and you are right about the state. They think in fiat.
They sell electricity to mining companies. Not that the gov itself is mining. It's a big difference.
Fair. The government really doesn't do much of anything except kill and steal. They hire actual companies to do productive things.
reply