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Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

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Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#71
post #3

Legitimizing Bitcoin more than offsets the environmental benefits of electric vehicles.

Maybe, if you completely disregard everything else that Bitcoin puts on the table, and how much energy is required to sustain the infrastructure it will make obsolete.

There are now proof of stake alternatives, that offer what bitcoin does and a whole lot more

Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#74
post #54

Earlier quoted context omitted.

Fiat system costs a lot to run too, pretty sure this assertion debunked.

The annualised energy consumption of the Bitcoin network is currently between the United Arab Emirates and Argentina. https://www.cbeci.org/cbeci/comparisons

[deleted]

Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#76
post #3

Legitimizing Bitcoin more than offsets the environmental benefits of electric vehicles.

Bitcoin uses as much electricity as Chile and a single transaction has the same carbon footprint as ~700k Visa transactions. This may also be underestimated and account for around half of global data centre energy consumption as per a recent study. [1] [1] - https://digiconomist.net/bitcoin-energy-consumption/

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/

Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#77
2020 has completely changed my perception of Tesla and Musk. I had this image of a benevolent genius who is sometimes misunderstood ("funding secured", "pedo guy", "Autopilot").

Came across Teslacharts' podcast [1] (now the Chartcast) and oh boy was I wrong.

This is only the latest in a long series of red flags around Tesla/Musk and however it ends, it will not end well.

[1] https://thechartcast.com/

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