General Discussion

TommyT139

(1,053 posts)

27. It doesn't make you "bad"...

Mon Feb 10, 2025, 02:15 PM

Feb 10

...but you are part of the problem, helping to maintain the fiction that Bitcoin (one of many made-up signifiers of...what?) is actually worth something. More concretely, you are supporting a system that has massive negative impacts on the climate.

Each bitcoin transaction generates carbon emissions roughly equivalent to driving a gasoline-powered car between 1,600 and 2,600 kilometres.

The findings reveal that approximately 46 per cent of global Bitcoin mining emissions originate within the United States, producing around 15.1 million metric tons of CO₂ annually.

From Nov. 2024:
https://blogs.lse.ac.uk/businessreview/2024/11/08/the-large-environmental-consequences-of-bitcoin-mining/

I haven't read anything on another aspect of cryptocurrency -- that it is only available to people who have to surmount other obstacles in order to access and use it, unlike cash and basic banking. A society should not require people to have the latest computers in order to access their own currency.

That's even before crypto became the preferred currency of fascist assholes, who seem likely to steal whatever wealth this country has and turn it into crypto. (Probably not Bitcoin though -- something more trumpy.)

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byronius

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Highlight:

Getting rid of the penny introduces a new problem: nickels [View all] IronLionZion Feb 10 OP

Typical move by the rapist bif Feb 10 #1

I'm no fan of pennies, but it's true we lose more money on nickels IronLionZion Feb 10 #2

But who gets to round up??? The Madcap Feb 10 #30

With corporations DENVERPOPS Feb 10 #49

What is stopping corporations from rounding up now? MichMan Feb 10 #70

I'd imagine that's the idea behind ridding the penny. C Moon Feb 10 #51

Trump's way ahead of you, not wooden nickels, he's on it. dem4decades Feb 10 #56

Kick dalton99a Feb 10 #3

The penny situation is a lot like the Daylight Savings/Standard Time issue. Tommy Carcetti Feb 10 #4

Then by all means dweller Feb 10 #5

Yep it's one step closer to thinkingagain Feb 10 #26

That right there scares me more than anything. What happens when the electricity goes out, esp. in blue states. ancianita Feb 10 #40

Get rolling with some decent inflation Nasruddin Feb 10 #45

Haven't seen a 50-cent piece in years.... allegorical oracle Feb 10 #78

Easy peasy. Get rid of the nickel too. Irish_Dem Feb 10 #6

They are trying to force us away from cash... TommyT139 Feb 10 #7

Use crypto for everything! IronLionZion Feb 10 #9

If I find out a friend uses crypto... TommyT139 Feb 10 #11

That's not right Polybius Feb 10 #24

It doesn't make you "bad"... TommyT139 Feb 10 #27

I understand what you are saying, but I'm all business when it comes to investing Polybius Feb 10 #31

Do you know how many people said the same thing, and instead tried to find the next Bitcoin, and lost everything? W_HAMILTON Feb 10 #34

Of course Polybius Feb 10 #82

The crypto is just a huge fraud DENVERPOPS Feb 10 #53

Good for you! Abolishinist Feb 10 #84

There's a bar in my city that does not accept cash PoindexterOglethorpe Feb 10 #42

That's illegal in my state. TommyT139 Feb 10 #81

I understand that paper bills wear out and must RubyRose Feb 10 #8

No ProfessorGAC Feb 10 #35

Another stupid red herring to distract and solve nothing. Why haven't you lowered prices Donnie?!?!? dutch777 Feb 10 #10

He's a showman. Everything he does is just a show to entertain stupid people who don't understand it IronLionZion Feb 10 #14

He's the show...Elon is the man! TommyT139 Feb 10 #32

It doesn't seem sustainable to make coins that cost more to produce than they are worth. iemanja Feb 10 #12

they get spent again and again - one dime can buy thousands of dollars during its lifetime Blues Heron Feb 10 #17

That's a good point iemanja Feb 10 #19

Yep. It's the same reason it doesn't necessarily make sense to eliminate the penny just because it costs more... W_HAMILTON Feb 10 #37

Trump don't do math C_U_L8R Feb 10 #13

Apparently no one is advising these decisions IronLionZion Feb 10 #15

The US stopped minting a half-cent coin in 1857. surrealAmerican Feb 10 #16

And inflation means less need for the smaller denominations of coins IronLionZion Feb 10 #20

That Math Doesn't Work ProfessorGAC Feb 10 #36

That was a professorial way of thinking about it. IronLionZion Feb 10 #41

I Worked In Big Business ProfessorGAC Feb 10 #44

Do you do your own taxes? Mosby Feb 10 #46

Yes, But I Don't See The Relevance ProfessorGAC Feb 10 #48

I have one Polybius Feb 10 #25

Does anyone remember "mills"? FakeNoose Feb 10 #76

Interesting. surrealAmerican Feb 10 #80

I think you might be right, it probably had to do with state sales tax FakeNoose Feb 10 #83

IIRC during WWll some pennies were made of a lead alloy...they were actually dark gray in color. brush Feb 10 #18

1943 cents. roamer65 Feb 10 #21

Yes. I remember seeing them in the '50s as a kid. brush Feb 10 #22

I Had A Couple Of Those ProfessorGAC Feb 10 #38

If only we could make lead bullets into pennies...... lastlib Feb 10 #43

Known as steel cents. bucolic_frolic Feb 10 #59

Another poster said thy were steel coated in zinc. Whatever the alloy... brush Feb 10 #69

Yes, zinc coated steel bucolic_frolic Feb 10 #72

OK, doesn't the constitution give the legislative branch the sole responsibility of minting coins? Native Feb 10 #23

Round everything up to a dollar gab13by13 Feb 10 #28

You forgot maxsolomon Feb 10 #58

Make the nickel out of the same stuff we make the penny dsc Feb 10 #29

It's like they didn't think this out. I don't like pennies but many people rely on them underpants Feb 10 #33

Yeah, I solve that problem by almost never using cash LOL NT Happy Hoosier Feb 10 #39

Getting rid of pennies is a good idea. Mosby Feb 10 #47

No American business would round down. maxsolomon Feb 10 #60

Well i did. Mosby Feb 10 #64

You're special. maxsolomon Feb 10 #67

Thanks! Mosby Feb 10 #68

Just the other day I saw a sign at a gas station dweller Feb 10 #50

MaddowBlog-Trump's pennies order adds to list of legally dubious power grabs LetMyPeopleVote Feb 10 #52

Pennies Are Made in Philadelphia Deep State Witch Feb 10 #54

For heaven's sake, just give me all the pennies and nickels and we'll call it even. GreenWave Feb 10 #55

Scrooge Mcduck IronLionZion Feb 10 #75

In an increasingly digital payment system, how do we need 1.4 BILLION nickels a year? bucolic_frolic Feb 10 #57

Do you know what the country needs today? A seven-cent nickel Brother Buzz Feb 10 #61

I mean, that's still cost savings quakerboy Feb 10 #62

Wasn't there a movie Red Mountain Feb 10 #63

This makes no logical sense..any transaction should involve no more than one nickel JT45242 Feb 10 #65

It's more like the prices that end in $.99 will now have to end in $.95 or $.00 IronLionZion Feb 10 #66

That only applies when one is buying one of something plus sales taxes factor in. MichMan Feb 10 #71

They'll just round up the after tax price IronLionZion Feb 10 #73

It would need to be done on the total bill MichMan Feb 10 #74

CNN's 1st report says Trump wants to stop *minting* new pennies; then they call that "phasing it out" muriel_volestrangler Feb 10 #77

This was my take as well genxlib Feb 11 #86

Switzerland got rid of its 1 centime coin in 2007; some Euro countries barely use theirs muriel_volestrangler Feb 10 #79

Except all of those European Countries including Switzerland have a VAT tax standingtall Feb 23 #87

Simple solution. Abolishinist Feb 10 #85