101–110 of 276 posts
Hope we now can start a proof of stake cycle. Peercoin is dead. What other proof of stake viable currency is there? Only when the energy impact of crypto currency is dealt with will i indulge in speculating that it can be a net good for humanicy
We need proof of CO2 scrubbing.
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You used to be able to mine Bitcoin on a CPU. Then a GPU, now it takes warehouses full of ASICs to do it profitably. What's stopping Chia from doing the same thing to the storage space? Adoption. I don't like Chia, and I don't want other people to like it either.
> What's stopping Chia from doing the same thing to the storage space? The gobsmacking amount of HDD supply on earth. For now people are burning SSDs to create the plots (1TB SSD can probably create a petabyte of plots to "farm"), but if you have that petabyte of storage space you're keeping online 24/7, do you suspect playing bingo to win crypto tokens is the most profitable use of that memory? How the economics sha…
Chia isn't cool. Chia gives you bad breath, and it makes dogs hate you. Spread the word.
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Yes. A very clever plan, executed to perfection. We don't know the price point of the BTC they bought at the time but it is likely to be somewhere around $30,000 - $40,000 and then they announced it to cause a run up close to $60,000 and then sold some of it for a >$101m profit. Now they somehow 'stop accepting Bitcoin' causing BTC to go down 12%. These same institutions are NOT interested in hodling. They are here t…
> executed to perfection Except they still own nearly all the Bitcoin they bought, so I don’t see how selling a tiny bit of it and tanking the rest could be described as “to perfection”.
No where in my sentence suggested they sold all of it.
> so I don’t see how selling a tiny bit of it could be described as “to perfection”
Telsa did not lose any money from their BTC investment and are still up >40%. At that time, they (and others on Twitter) caused a run up in the crypto markets to drive the BTC price up to new all time highs and got out a large profit even by selling a small amount and then causing it to drop 12% after the announcement, sounds like it was perfectly executed and it worked for them.
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Meanwhile they started accepting Dogecoin at SpaceX just couple of days ago . Dogecoin has exactly the same energy spending incentives as Bitcoin. The whole set of actions doesn't sound very logical.
> Dogecoin has exactly the same energy spending incentives as Bitcoin. While the incentives are the same, Dogecoin has roughly 7.4x lower energy requirements than Bitcoin currently, so accepting Dogecoin instead of Bitcoin is a tad less offensive.
Just curious as someone out of the loop, what regulations encourage other car companies to buy regulatory credits that Tesla is granted by producing zero emission vehicles? I know its a big part of their profitability. Are there not regulations that would encourage Tesla to buy credits to make up for their crypto-polluting sins?
Due to this reason, they already announced that in 2021 they won't need to "pool" with another OEM like they did in 2020.
I see this as market manipulation. Tesla hasn't suddenly become aware of information not available when Tesla initially announced they'd accept bitcoin as payment.
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The problem is that you can't really take a company at face value if they reverse course after having already profited from their "lapse in judgement". The parent post lined out potential motivations behind all this that IMO aren't really that outlandish. It's speculation, but it's not some outlandish crackpot theory
Sure, but a basic rule of civility is that you should "assume good faith" and give others the benefit of the doubt when the good faith explanation is plausible.
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When Tesla announced the initial move they received a huge amount of push back for the environmental concerns. And it didn’t look good for an EV company of all things. There is a trend I’ve seen of a company making a decison, everyone hating on them for it, then they reverse the decision, and they are still criticised. If a company turns around and reverses a decision citing the very reasons they were criticised for…
They could also spend half an hour to google bitcoin before buying them?
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Yes. A very clever plan, executed to perfection. We don't know the price point of the BTC they bought at the time but it is likely to be somewhere around $30,000 - $40,000 and then they announced it to cause a run up close to $60,000 and then sold some of it for a >$101m profit. Now they somehow 'stop accepting Bitcoin' causing BTC to go down 12%. These same institutions are NOT interested in hodling. They are here t…
> while the retail investor hodls for their life savings at all time highs again. Said all this after the 2017/8 peak. Called people idiots for buying BTC at $20k. Laughed when it plummeted. Who's laughing now.
Why is is Bitcoin mining mainly happening in China, but not other compute bound tasks? How about machine learning. Why aren't the leading data centers for ML based in China? Or are they? And on the energy front - if fossil fuels are the best energy source for calculating hashes, why not for other types of number crunching? Can boycotting one type of calculations really keep the fossil fuels under the ground? If they…
Distance and Great Firewall of China do not help with any of that.
Also, because moving data to China is a legal nightmare in EU and public relations nightmare in the whole west.