201–210 of 1001 posts
Innovators, follow regulations and go for it. Don’t let the HN crowd get you down. Few of these commenters have ever been unbanked. You’re on to something, close the tab and get to work.
Earlier quoted context omitted.
The Cambridge Bitcoin Electricity Consumption Index gives a much higher estimate (78 TWh vs. 117 TWh), which makes it about the same as the annual electricity usage of United Arab Emirates (pop. 9.9 million). https://www.cbeci.org/
It seems really weird to compare the energy consumption to that of a country. "The total energy usage for the production of cars/yachts/fitness machines/musical instruments/toilets equals that of country X" What does it even mean? How do you interpret it? It seems more sensible to compare to total worldwide energy consumption of which Bitcoin takes roughly 0.05%
Visa is an alternative technology providing a service that bitcoin is intended to replace (preemptive statement: I am simplifying and very familiar with the crypto true believers various conceptions of what crypto currency "really is", don't waste your time not picking this please), so it is a valid comparison to illustrate the inefficiency
Musk has been pumping Doge on his Twitter feed a lot too. I wonder how much if this is about Musk thumbing his nose at the mainstream finance industry that he so clearly loathes as it is about anything approaching a valid business plan.
I think you win. He's already done this with his deliberate attempts to ruin TSLA shorts. That being said doing this with a public company... if this guy isn't careful he's going to get barred from public markets and forced out of Tesla.
Legitimizing Bitcoin more than offsets the environmental benefits of electric vehicles.
Our biggest environmental footprints as individuals are heating and cooling. Having an electric car is nothing compared to it. Take one intercontinental flight and again, having a fossil fuel car for a year does not exceed the emissions of that flight. http://www.withouthotair.com/ Legitimizing Bitcoin has nothing to do with the environment in the large scale of things. It's like saying that you need to optimize fast…
That's not good for the environment.
This is going to be one of those events that everyone points back to after the crash to show we had reached peak bubble. Like AOL buying Time Warner etc.
Or this is going to be one of those events that everyone tries to sweep under the carpet when Tesla and it's investors have to be bailed out for the first time, because it's too big to fail...
That would be a sight to behold. If this happens within our lifetime, then it would be an interesting case study of a fast-track evolution from a healthy company to a stagnant behemoth.
honest question: why would tesla, a responsible company, gamble so much money on a "product" which is literally worthless? (is it because so much of their income is generated from selling credits?)
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This is going to be one of those events that everyone points back to after the crash to show we had reached peak bubble. Like AOL buying Time Warner etc.
I don't understand all the Crypto hate on this site. Since when have hackers become the luddites to new ways of finance?
Speaking as someone who tends towards the latter camp, Bitcoin and other cryptocurrencies feel to me a lot more like a solution in search of a problem. It's been around for over a decade, and yet the only financial niches it seems to have occupied is drying up the supplies of GPUs and providing a speculative bubble. Actually using it for end-user transactions seems to have gone down from a peak several years ago, and acting as a settlement layer is a use case that everyone talks about but has never actually come about.