Earlier quoted context omitted.
> limiting energy use is vital to avoid climate catastrophe. This is what I have issue with. Energy use benefits humanity. Full stop. If you said civilization needs bananas to survive and flourish, then some good samaritan came along and said "I will always buy any leftover bananas you can't sell no matter where or when you grow them", you would get many more banana farms, people experimenting with new banana growing…
I'll try a simple analogy: imagine that your goal is to consume as much corn as possible. (A silly goal for many reasons, but that's a different discussion.) You have all of the corn that you've grown to eat, and then there's the seed corn you would need to plant in order to eat more corn in the future. If you decide to eat the seed corn as well, you will eat more corn in the immediate future, and then much less corn…
Keet – P2P Video and Text
51–60 of 67 posts
Re: Keet – P2P Video and Text
#52Earlier quoted context omitted.
Bitcoin miners flock to where the energy is cheapest, where it can't be used for anything else, namely stranded renewables. If the energy source can be used for anything else, it is probably too expensive for Bitcoin miners, who are a buyer of last resort. Bitcoin provides a financial incentive for infrastructure build out for these stranded energy sources. You've made your arguement for "planet destroying", now why…
One aspect I must mention is Bitcoin miners flock to where energy is cheapest for them , not taking into account negative externalities . This is why you see miners attacking CI services to try to use them for mining crypto: free energy is the best deal, even if it is costly to someone else: https://drewdevault.com/2021/04/26/Cryptocurrency-is-a-disas... Of course, the climate crisis is caused in large part by capita…
Re: Keet – P2P Video and Text
#53On the business side: Why did they try to trademark a common networking term ("holepunch")? Why did they add a whole section labeled "Rules about linking to our Site" to the terms of service, are they in the business of shutting down customers who leave bad reviews or write bad negative posts?
As for competition, how is this better than slapping a blockchain onto any other messenger?
Re: Keet – P2P Video and Text
#54Earlier quoted context omitted.
> Bitcoin doesn't discriminate between green energy sources and fossil fuel energy sources. BINGO! If you have something that will buy any left over or unusable stock of product X, the production of X becomes less risky and easier to invest in. This isn't hard. Bitcoin incentivizes energy production and innovation. If you want that energy to be green, bitcoin is still more than willing to buy it from you. Lowering th…
No, this doesn't make sense. If your goal is to reduce fossil fuel usage, and Bitcoin also incentivizes fossil fuels, then there's no reason to expect that Bitcoin will help reduce the share of energy produced by fossil fuels. Worse yet, if it increases total energy consumption, and doesn't affect the percentage produced by fossil fuels, then that will increase the absolute amount of greenhouse gas emissions. Your ar…
Bitcoin does nothing to alter or effect other incentives or disincentives on energy production.
Assuming prices are equivalent, it's net neutral on production mix. However, we've been told renewable energy is cheaper! Therefore it accelerates its adoption.
Re: Keet – P2P Video and Text
#55Earlier quoted context omitted.
It's actually really great. In many cases P2P failed, because of lack of ways to transfer value, compared to centralized services. P2P + LN might be the way for P2P renaissance. It's also a better and more correct way to use bitcoin just as money, and not as some kind of ownership token, which plagues the web3 scene. The core purpose of money is to be interoperable, to allow all kinds of goods and services to be trad…
When I chat to my friends and family the last thing I want to do is "transfer value". My bank app allows me to send money to my friends and family in seconds and to create quick payment requests as well. Perhaps this app is just for blockchain people? If it's another Internet of Coins app then that explains the vague website and the lack of things like privacy policies. I do find it funny that they've added rules abo…
Congratulations on your family being financially stable!
Re: Keet – P2P Video and Text
#56Earlier quoted context omitted.
> monetizing stranded and/or temporary excess amounts of energy Please stop saying this. Aluminum refining or hydrogen electrolysis fits so much better and actually benefits society.
How's your at home aluminum refining going? I unfortunately haven't had much luck monetizing my at home hydrogen electrolysis plant :(
Re: Keet – P2P Video and Text
#57Earlier quoted context omitted.
> monetizing stranded and/or temporary excess amounts of energy Please stop saying this. Aluminum refining or hydrogen electrolysis fits so much better and actually benefits society.
Seems that the free market is determining that securing an open financial network benefits society more.
Re: Keet – P2P Video and Text
#58Earlier quoted context omitted.
How's your at home aluminum refining going? I unfortunately haven't had much luck monetizing my at home hydrogen electrolysis plant :(
I'm talking about scales that matter, not a few kilowatts in your basement.
Oil and Gas companies are reducing CO2-equivalent emissions by about 63% by mining with flared natural gas: https://www.cnbc.com/2022/02/12/23-year-old-texans-made-4-mi...
Large solar farms are being built that otherwise would not have: https://www.reuters.com/technology/tesla-block-blockstream-m...
Re: Keet – P2P Video and Text
#59Earlier quoted context omitted.
Bitcoin miners flock to where the energy is cheapest, where it can't be used for anything else, namely stranded renewables. If the energy source can be used for anything else, it is probably too expensive for Bitcoin miners, who are a buyer of last resort. Bitcoin provides a financial incentive for infrastructure build out for these stranded energy sources. You've made your arguement for "planet destroying", now why…
One aspect I must mention is Bitcoin miners flock to where energy is cheapest for them , not taking into account negative externalities . This is why you see miners attacking CI services to try to use them for mining crypto: free energy is the best deal, even if it is costly to someone else: https://drewdevault.com/2021/04/26/Cryptocurrency-is-a-disas... Of course, the climate crisis is caused in large part by capita…
Why? Because you said so?
> not decentralized
Bitcoin is quite possibly the most decentralized computer technology ever created. Name something more decentralized.
> not private
I processed around $15k in instant bitcoin transactions this month and have zero insight into who the sender or receiver are
Re: Keet – P2P Video and Text
#60With no mission statement or philosophy about data privacy or content filtering it's just appears to me as another for-profit company with no ethical stand point, pass.
The bitcoin support is a huge red flag for me. I really hope they scrap that.