Tesla spent $1.5B in clean car credits on Bitcoin
amycastor.com
Tesla spent $1.5B in clean car credits on Bitcoin
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Re: Tesla spent $1.5B in clean car credits on Bitcoin
#2I always wondered what will happen when the environmentalists find out about the energy consumption requirements of Bitcoin.
Re: Tesla spent $1.5B in clean car credits on Bitcoin
#3I always wondered what will happen when the environmentalists find out about the energy consumption requirements of Bitcoin.
The counterargument is always that at some point in future the energy consumption problem will be solved, but isn't the rate of computation a or the main factor against 50%+ attacks? Else the solutions proposed seemed to relay on centralized services that don't actually play on the blockchain to reduce the actual amount of transactions and load, also then avoiding the delays - but then re-adding the supposed main issue of having a "trustless" blockchain.
Re: Tesla spent $1.5B in clean car credits on Bitcoin
#4I always wondered what will happen when the environmentalists find out about the energy consumption requirements of Bitcoin.
They will be super angry and look at all the details, including the past profits, then calmly decide to look the other way because they need a retirement account after all :)
Re: Tesla spent $1.5B in clean car credits on Bitcoin
#5I always wondered what will happen when the environmentalists find out about the energy consumption requirements of Bitcoin.
The counterargument is always that at some point in future the energy consumption problem will be solved, but isn't the rate of computation a or the main factor against 50%+ attacks? Else the solutions proposed seemed to relay on centralized services that don't actually play on the blockchain to reduce the actual amount of transactions and load, also then avoiding the delays - but then re-adding the supposed main iss…
Or PoS Ethereum or other PoS crypto currencies can take the place of exponentially energy-hungry PoW. They explicitly deal with the 50%+ attacks in their governance too.
Re: Tesla spent $1.5B in clean car credits on Bitcoin
#6Re: Tesla spent $1.5B in clean car credits on Bitcoin
#7https://ark-invest.com/analyst-research/bitcoin-myths/
Claim: Bitcoin wastes too much energy.
Counter-Claim: Bitcoin’s energy consumption is more efficient than that of gold and traditional banks.
Re: Tesla spent $1.5B in clean car credits on Bitcoin
#8I always wondered what will happen when the environmentalists find out about the energy consumption requirements of Bitcoin.
They'll complain and then we'll show them the energy consumption of the finance industry.
Re: Tesla spent $1.5B in clean car credits on Bitcoin
#9Yeah this narrative is played out. Yes bitcoin uses a lot of energy. Almost certainly less than the things it is competing against. And over time it has the potential to decrease that consumption drastically with other protocols, an option traditional banking doesn't possess.
Bitcoin is already the greenest form of finance and will get much cleaner in the future.
Re: Tesla spent $1.5B in clean car credits on Bitcoin
#10I always wondered what will happen when the environmentalists find out about the energy consumption requirements of Bitcoin.
Bit of an aside, but it's so wild that we label people as "environmentalists" and that anyone would place themselves NOT in that group.
It seems like 100% of people should want air which is non-toxic, water which is non-toxic and food which is non-toxic.
But of course, being an "abolitionist" was a political group in the 1800s but now it's just assumed that 100% of people are anti-slavery, so maybe the optimistic take is that "environmentalist" will undergo the same transformation as "abolitionist".