31–40 of 473 posts
The real test is if this is still true by mid-Jan. The 2017-18 peak had a similar trajectory--Oct to Dec spike then fell by Jan--suggesting some weird tax related activity. I'm curious to see if things play out the same way.
Earlier quoted context omitted.
> BTC works perfectly fine without carbon output I’m not sure I follow this (admittedly I don’t know much about how BTC actually works). Doesn’t mining also serve the purpose of verifying transactions?
I think GP is saying that the energy can come from non-carbon-emitting sources, which is technically true but besides the point. Bitcoin mining currently incentivizes tremendous carbon emissions, higher per dollar than other forms of money.
I am NOT a fan of Bitcoin, but... Watch a real-time visualization of the global Bitcoin transaction flow, as it is happening right now: https://dailyblockchain.github.io/ Each square is a bitcoin address (like a cryptographic public key) Each graph component is a transaction. The components appear as transactions are broadcast into the bitcoin P2P network (but before they are verified and committed to the blockchain)…
What's the carbon footprint of BTC like these days? Has any progress been made on mitigating this fundamental design issue?
It seems to me that the nature of Bitcoin as a pseudonymous currency actually facilitates and encourages illicit power stealing arrangements like this. In other words, it’s pretty easy for me to just send you some of my freshly minted BTC from the mining farm your company is powering, and nobody is likely to ever find out.
Unless corruption can be rooted out (highly unlikely), there will be no incentive for Bitcoin mining energy to come from legitimate sources, never mind clean sources.
I wonder where the money comes from that funds this price. I'm very afraid that people who should know better, like pension funds, start buying this crap, in search for any return. This game of musical chairs will come down eventually.
How long does the "game of musical chairs" have to go on before you consider the possibility that this isn't one? It has been a decade since BTC was launched.
Earlier quoted context omitted.
BTC works perfectly fine without carbon output, its depends on energy creation though (just like any other form of money). The Paris agreement was a big step moving humanity towards sustainable energy. US made progress in voting for a politician who promised to join the Paris agreement again. We'll see whether it will really happen.
The Paris agreement was not enforceable, and the US is one of the countries that has actually done most to reduce carbon output. But hey, at least the rest of world leaders are virtue signaling about their greenness, that’ll help the planet!
US has achieved a lot (especially Tesla) _despite_ the leadership working against it for a long time.
What's the carbon footprint of BTC like these days? Has any progress been made on mitigating this fundamental design issue?
The carbon footprint is funded by the block reward which is halved every 4 years until it dwindles to nothing. Progress is slow, but inexorable.
Earlier quoted context omitted.
BTC works perfectly fine without carbon output, its depends on energy creation though (just like any other form of money). The Paris agreement was a big step moving humanity towards sustainable energy. US made progress in voting for a politician who promised to join the Paris agreement again. We'll see whether it will really happen.
> BTC works perfectly fine without carbon output I’m not sure I follow this (admittedly I don’t know much about how BTC actually works). Doesn’t mining also serve the purpose of verifying transactions?
What's the current thoughts on Tether, and how its speculated potential collapse will affect the rest of the ecosystem? Also, what's the latest on scaling? The last time I looked into it, Lightening was a thing, but I don't follow it closely.
Tether is still a scam, and the music is still playing. Don't be the last guy. As for lightning, it adds a layer of trust into a system whose reason for existence is trustlessness. If you don't care about trustlessness, you can already have fast and scalable transactions through normal banking.