51–60 of 162 posts
I always wondered what will happen when the environmentalists find out about the energy consumption requirements of Bitcoin.
Hopefully everyone with move to Ethereum and other Proof of Stake coins. (Both for the environment, and my wallet since I'm already deep in Eth)
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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 tak…
This black-and-white thinking ignores the spectrum of what constitutes non-toxic. There are those that accept nothing short of perfect purity in air, water and food, a condition which has never existed in a million years of human history. Others are less concerned about humans and more about ecology. Still others value the morals of human-animal relations above issues of nature. So no, we are not all 'ecologists', no…
He knows there is a large and growing community of Bitcoin speculators and enthusiasts out there. By "endorsing" Bitcoin in this way, he not only moved the market--further enriching these folks--but also signaled that he is an ally to them, significantly boosting positive sentiment toward him and increasing the likelihood that they will purchase a Tesla as their next vehicle.
In one fell swoop, he not only drove demand for his product, but also made it more affordable to his target market without lowering its cost.
Genuine question: what's the end game here for Musk? He's been tweeting about dogecoin, and then Tesla invests a non insignificant amount of money in BTC. I smell something fishy.
BTC is serious: until FED stops printing money unsustainably, companies need a better store of value.
Genuine question: what's the end game here for Musk? He's been tweeting about dogecoin, and then Tesla invests a non insignificant amount of money in BTC. I smell something fishy.
I have no idea. Maybe it's just a pump-and-dump scheme but he's doing crypto to steer clear of the SEC this time? Maybe he's trolling? Maybe he really is going off the rails?
I 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 tak…
People may agree in principle on what the end goal is, but disagree about the method to get there. Today the "environmentalist" is a political label like "liberal", "feminist" etc. It has a simple surface meaning but also comes with a lot of connotations and baggage, so that not everyone is comfortable pinning it on themselves.
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Controlling for transaction volume the energy consumption of bitcoin is orders of magnitude higher than the rest of the finance industry.
I'm on the fence about whether this is correct or not. The question in my mind is: do you include military spending in the cost of maintaining a fiat currency and if so to what extent? Fiat currencies are backed in part by the power of the governments that issue them, so is defense spending a form of "proof of work" for them? If the US government disbanded its military would the USD hold any value for very long? Same…
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Bitcoin is the greenest form of finance that gets greener over time? What nonsense is this? Already ONE transaction consumes as much power as an entire American household uses for a week.That is 215 kwh of energy for one transaction. It's using the equivalent of 2.26 million American homes worth of energy for just 330k transactions. A significant chunk of that is wash trading, ie people buying and selling to themselv…
How many skycrcapers are there in the world constructed for financial institutions. Want to go down the rabbit hole of calculating that CO2? Also, cite your sources