咱们以前用那些断断续续的再生能源把水抽到水库里来储存这些能量，或者用这些能量来造氢气和氨气来储能。其实比特币烧电也是一个道理，并且储存的价值比以前这些项目更牛逼，只是一般人看不懂看不透而已。

Come on, it consumes as much electricity as…（省省吧，哪有采金子耗电）

Bitcoin’s electricity consumption must be analyzed with respect to the future scenarios for the network. A lot of volatility is natural when market participants are trying to forecast whether bitcoin is (i) a speculative bubble that will implode and be worthless, (ii) a digital scarce asset that could replace gold as a store of value, or (iii) a monetary architecture that will serve as the core trust and verification layer for numerous types of transactions.

比特币到底要烧掉多少电取决于它以后怎么玩。一般大家觉得比特币未来可能有三种截然不同的结局（i）泡沫破裂，比特币归零，（ii）数字黄金，主要用于价值存储，或（iii） 一种货币体系，用来交易。（个人倾向于认为是2和3的结合）

If you subscribe to the bubble narrative, you can rest safely knowing that the electricity consumption of Bitcoin will return to zero in the near future. Miners will not expend energy if their bitcoin rewards are rendered worthless. If that’s your view, the discussion is moot.

如果你觉得比特币是泡沫，那恭喜你，比特币未来归0，那就再也不耗电了。这种咱也懒得浪费口水了。

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二更了

What if bitcoin replaces gold as an asset class for portfolio diversification and store of value? Now, to all the gold bugs out there, this is not our prediction. Thousands of years of history as sound money means gold will likely remain attractive. We merely use this example to show that bitcoin’s scarcity would be sufficient and environmental price would be much lower. Also to be clear, this scenario is not why we are excited about Bitcoin, but it may be the easiest use case to understand.

如果比特币变数字黄金了，咋整？咱把金子和比特币拿出来比划比划。金本位也搞了几千年了，一时半会当然也不会玩完。但是咱想想比特币的稀缺性，想想它对环境的破坏程度，那真的是完爆黄金。插一句，比特币的爆点可不止这三瓜五枣的，挤兑完黄金，高潮咱后面说。

Current gold production is around 3,000 tons a year against an inventory of about 200,000 tons, which is all the gold that has been produced throughout history. Of that, less than half is used for jewelry. The so-called stock-to-flow ratio, which is a measure of scarcity where a higher number is better, is therefore currently around 56: at the current rate of production, it would take 56 years to double the inventory.

黄金这玩意现在年产3,000吨，库存量约20万吨，注意了，咱人类存在这么多年，攒下的黄金就都在这里头了。这里面不到一半做首饰了。按现在这个状况，56年后咱攒下的金子可以翻个倍。 (责任编辑：admin)