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Coinbase from YC to DPO

blog.ycombinator.com

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Re: Coinbase from YC to DPO

#111

Post by aeternum »

rawtxapp wrote: post #102
Fede_V wrote: post #35

I'm horrendously worried about crypto gaining more marketshare as long as proof of work crypto remains mainstream. It has significantly worse externalities than just about any company I can think of (including defense contractors/vaping companies), and, if it grows larger before we have clean energy, then we virtually guarantee we won't be able to tackle global warming. We are going to bestow a world that will be sig…

Just put a carbon tax on everything that has environmental externalities, it's as simple as that, it doesn't make sense to target a specific industry, especially one that uses stranded/renewable energy.

This is the simple answer. In the unlikely event Bitcoin moves to PoS, miners will just redirect their hardware to other coins

The simple solve: price the externality.

Re: Coinbase from YC to DPO

#112

Post by qwertox »

Fede_V wrote: post #35

I'm horrendously worried about crypto gaining more marketshare as long as proof of work crypto remains mainstream. It has significantly worse externalities than just about any company I can think of (including defense contractors/vaping companies), and, if it grows larger before we have clean energy, then we virtually guarantee we won't be able to tackle global warming. We are going to bestow a world that will be sig…

I wouldn't be too worried. The industrial revolution brought us many things which were just as disastrous, for example certain chemicals, but these things can get regulated. DDT is no longer used like it was used in the 70s.

Let Bitcoin be Bitcoin, let the G7 (or whoever finds himself responsible) quickly regulate the power consumption issue, then PoW will likely disappear for mainstream applications. Luckily there are alternatives.

Re: Coinbase from YC to DPO

#113

Post by ignoramous »

arcticbull wrote: post #16
newbie578 wrote: post #4

From startup to IPO in under a decade. Well played! Congratulations!

Not to take anything away from this accomplishment -- this is more a point of interest -- the average time from formation to IPO for a company that's going to is 6.3 years [1] [1] https://www.statista.com/statistics/320793/median-time-ventu...

Well, what's the average time to a $100B IPO?

Re: Coinbase from YC to DPO

#114

Post by cslarson »

Fede_V wrote: post #35

I'm horrendously worried about crypto gaining more marketshare as long as proof of work crypto remains mainstream. It has significantly worse externalities than just about any company I can think of (including defense contractors/vaping companies), and, if it grows larger before we have clean energy, then we virtually guarantee we won't be able to tackle global warming. We are going to bestow a world that will be sig…

As someone quite involved in the Ethereum ecosystem - I totally agree. I also believe the Ethereum network will switch entirely to Proof of Stake this year.

Re: Coinbase from YC to DPO

#115

Post by skeeter2020 »

rawtxapp wrote: post #102
Fede_V wrote: post #35

I'm horrendously worried about crypto gaining more marketshare as long as proof of work crypto remains mainstream. It has significantly worse externalities than just about any company I can think of (including defense contractors/vaping companies), and, if it grows larger before we have clean energy, then we virtually guarantee we won't be able to tackle global warming. We are going to bestow a world that will be sig…

Just put a carbon tax on everything that has environmental externalities, it's as simple as that, it doesn't make sense to target a specific industry, especially one that uses stranded/renewable energy.

broad-based consumption taxes are the best theoretical response, but politically no one is going to impose them at the levels needed to discourage consumption, and they almost always get perverted in their application with carve-outs and exemptions. Plus where does that money go? At best it's an inefficient recycling paradigm when what we really need is an at-source reduction in consumption in the first place.

Re: Coinbase from YC to DPO

#116

Post by lubesGordi »

csomar wrote: post #91
sosuke wrote: post #2

Dividends to HN users? Joking aside congrats! I'm planning on picking up a share or two as I did with Digital Ocean.

They did give 0.1 btc in the early days. Which if you did hold into them would be roughly $6500 by today's rate (you'd also have BCH, BCHN, BSV and BTG).

I got .03 btc from the early days sign up. It's almost $2k now. Thanks Brian!

Re: Coinbase from YC to DPO

#117

Post by jariel »

rawtxapp wrote: post #102
Fede_V wrote: post #35

I'm horrendously worried about crypto gaining more marketshare as long as proof of work crypto remains mainstream. It has significantly worse externalities than just about any company I can think of (including defense contractors/vaping companies), and, if it grows larger before we have clean energy, then we virtually guarantee we won't be able to tackle global warming. We are going to bestow a world that will be sig…

Just put a carbon tax on everything that has environmental externalities, it's as simple as that, it doesn't make sense to target a specific industry, especially one that uses stranded/renewable energy.

"it doesn't make sense to target a specific industry"

Normally, we wouldn't want to target one line of business over another because we want the market to figure out where the most value creation is, but it's not always the case.

In this case it makes sense to target people who are literally wasting electricity for supporting a Ponzi scheme. Even if BTC or Crypto is eventually a useful medium of exchange, there's still no reason at all to waste energy in it's proliferation.

Electricity transportation, and to some extent production - is partly socialized in most countries.

The market is not 'all knowing', it's full of asymmetries, we regulate all sorts of things for that reason.

Re: Coinbase from YC to DPO

#118

Post by skeeter2020 »

bko wrote: post #43
Fede_V wrote: post #35

I'm horrendously worried about crypto gaining more marketshare as long as proof of work crypto remains mainstream. It has significantly worse externalities than just about any company I can think of (including defense contractors/vaping companies), and, if it grows larger before we have clean energy, then we virtually guarantee we won't be able to tackle global warming. We are going to bestow a world that will be sig…

Bitcoin allows you to convert excess energy into money. Because it can be mined anywhere at any time, it's priced to the global low cost of energy. It doesn't make sense to use expensive energy sources. Much of energy production is meant to meet peak demand and storage is difficult. Bitcoin mining is a great way to monetize energy that has a low market value and would likely go to waste. If you want to price energy o…

this implies some sort of perfect price for energy which (regardless of the fossil fuels v. renewable angle) is a myth.

Re: Coinbase from YC to DPO

#119

Post by tim333 »

Fede_V wrote: post #35

I'm horrendously worried about crypto gaining more marketshare as long as proof of work crypto remains mainstream. It has significantly worse externalities than just about any company I can think of (including defense contractors/vaping companies), and, if it grows larger before we have clean energy, then we virtually guarantee we won't be able to tackle global warming. We are going to bestow a world that will be sig…

I was thinking of trying to make a coin/token that would fight global warming to help counter that stuff. Basically if you buy it the money goes into a fund some of which goes to carbon capture / anti warming causes, some is retained for buying back coins for liquidity. Anyone think that's a good idea?
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