Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Tesla no longer accepts Bitcoin due to climate impact

m.dw.com

Post reply on HN
Print view View original

171–180 of 276 posts

Re: Tesla no longer accepts Bitcoin due to climate impact

#171

Post by eurasiantiger »

Isinlor wrote: post #122
serf wrote: post #87

Earlier quoted context omitted.

>I mean, isn’t this exactly the behaviour we want to encourage? I want to encourage 'corporate flexibility and social accountability'. I do not want to encourage market-whale-individuals to attempt one-person pump-and-dumps on small(ish) global markets and further market opportunism & manipulation. Personally I believe that the decision has little to do with environmental impact; I think that the btc opportunity is b…

All crypto I know about is useful !only! for market speculation. Bitcoin is especially broken and useless for anything. Unless you want to pay 100$ transaction cost to by ice-cream at grocery store.

Drugs.

Re: Tesla no longer accepts Bitcoin due to climate impact

#172

Post by vmurthy »

Negitivefrags wrote: post #46
arcticbull wrote: post #10

So far, Elon/Tesla: 1. Bought a bunch of Bitcoin. 2. Announced they were going to accept Bitcoin, sending the price up. 3. Sold a bunch of Bitcoin to pad out otherwise poor earnings, citing their goal of "testing liquidity of the market." 4. Announced they were going to stop accepting Bitcoin, sending the price plummeting. As though he didn't know the environmental impact a week ago? As though he didn't check for liq…

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…

>And it didn’t look good for an EV company of all things

Didn't a company filled with really smart people (no, I don't mean it sarcastically) not know that it'll look bad before buying a billion dollars worth bitcoin?

Re: Tesla no longer accepts Bitcoin due to climate impact

#173

Post by simondotau »

isatty wrote: post #112
simondotau wrote: post #89

Earlier quoted context omitted.

I think a lot of people are aware that bitcoin transactions have an energy cost but haven’t sufficiently gone down the rabbit hole of quantifying exactly what that cost is.

A company as big as as TSLA has people on payroll to figure that out. If they don’t, then it’s still on them. You think this is WSB where I see a ticker, strike and expiry and I’m in with my life savings?

I think you're a touch over-optimistic if you think that all large companies always consider every possible ramification of every decision to its fullest extent prior to acting.

Personally I think Tesla's (and Elon's, and for that matter everyone's) involvement with cryptocurrency as a serious investment is moronic, driven almost entirely by sci-fi daydreaming rather than by actual principles. But my opinion doesn't matter to anyone else, so *shrug,* I guess.

Re: Tesla no longer accepts Bitcoin due to climate impact

#175

Post by adflux »

amelius wrote: post #13
ptsneves wrote: post #3

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.

This is actually a great idea. Sell carbon capture machines backed by a cryptocurrency.

Basically what Helium is doing for IoT networks, could be done for carbon capture machines aswell. Helium sells branded radio modules, "miners" provide network coverage and get paid for this in Helium(coin)

CarbonCoin (patent pending) could do the same, produce or white-label carbon capture machines, add logging modules to keep track how much CO2 is captured and pay the owners of these machines in CarbonCoin.

Re: Tesla no longer accepts Bitcoin due to climate impact

#176

Post by supergirl »

mrtksn wrote: post #95

What I don't get is, why people are talking about environmental impact per transaction. Transactions or not, the computers are churning constantly to solve the useless function that would produce the hash with the most 0s in it. It really doesn't have anything to do with transactions(the fees are only a fraction of the profits). The energy impact would be precisely correlated to the fiat price since the miners will b…

isn't it the case that multiple miners (or pools) compete for the same block and only 1 wins, the rest just waste work?

Re: Tesla no longer accepts Bitcoin due to climate impact

#177

Post by block_dagger »

Isinlor wrote: post #122
serf wrote: post #87

Earlier quoted context omitted.

>I mean, isn’t this exactly the behaviour we want to encourage? I want to encourage 'corporate flexibility and social accountability'. I do not want to encourage market-whale-individuals to attempt one-person pump-and-dumps on small(ish) global markets and further market opportunism & manipulation. Personally I believe that the decision has little to do with environmental impact; I think that the btc opportunity is b…

All crypto I know about is useful !only! for market speculation. Bitcoin is especially broken and useless for anything. Unless you want to pay 100$ transaction cost to by ice-cream at grocery store.

BTC maximalists argue that it’s a better store of value than gold due to portability, divisibility, durability, and scarcity. The theory is that it will be used to settle inter-bank transactions once it is widely adopted by institutions.

Re: Tesla no longer accepts Bitcoin due to climate impact

#178

Post by __alexs »

Negitivefrags wrote: post #46
arcticbull wrote: post #10

So far, Elon/Tesla: 1. Bought a bunch of Bitcoin. 2. Announced they were going to accept Bitcoin, sending the price up. 3. Sold a bunch of Bitcoin to pad out otherwise poor earnings, citing their goal of "testing liquidity of the market." 4. Announced they were going to stop accepting Bitcoin, sending the price plummeting. As though he didn't know the environmental impact a week ago? As though he didn't check for liq…

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…

> If a company turns around and reverses a decision citing the very reasons they were criticised for making it, shouldn’t we applaud them for listening?

Making a terrible mistake suggests you might have bad judgement. Fixing it doesn't erase that, it just removes the immediate impact of that bad decision. To recover fully they need to take additional action that demonstrates that actually their judgement has improved now.

Re: Tesla no longer accepts Bitcoin due to climate impact

#179

Post by ptsneves »

harwoodleon wrote: post #118
ptsneves wrote: post #3

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

Https://Nano.org

Where can one buy some?

Re: Tesla no longer accepts Bitcoin due to climate impact

#180

Post by DonHopkins »

RichardHeart wrote: post #127
DonHopkins wrote: post #97

Earlier quoted context omitted.

Humor: So I'm sure your explanation of why somebody hasn't already successfully implemented practical proof of stake before is totally credible and unbiased! ;) Not Humor: If somebody will work on it for free, do you promise to pay them in your own cryptocurrency? "Will work for stake!"

You don't have to destroy the environment to maintain a database. There's other ways to achieve censorship resistance than waste. Blockchains are are all social consensus anyway.

"Do you want to develop my new cryptocurrency?" is the new "Do you want to develop an app?"

https://www.youtube.com/watch?v=jVy0JWX5XEY&ab_channel=Adult...

Edit: [You spoiled the joke by retroactively editing your post and removing your amusing disclaimer that you had a financial stake in shilling POS, and your hilarious call for programmers to help you develop your new cryptocurrency! "Dodge, dodge." That's what makes you so funny! The "Glooty" character parody is spot on.]

Post reply on HN