Elon Musk & Tesla dumping Bitcoin for Dogecoin

[LV Koopa]

Why do you just assume he doesn't understand the tech but you do?

Because I've been following the discussions between Elon and crypto developers for a few weeks now. It's basically him making a suggestion or comment and being educated about why or why not it's feasible.

He essentially comes in asking about or suggesting things that someone completely new to the space that has done a little research says.

I understand most of it, especially the "older" technologies but I don't know everything.

As an example that's relevant to this discussion about bitcoin energy usage:





Look at what Elon says:

The top 10 hashing orgs should post audited numbers of renewable energy uses. The fukk does this even mean? What hashing orgs and why would they be in the business of auditing energy usage? Would you ask, or even want, Bank of America to audit the electricity you use to make online banking transactions?

Then there is the lie that bitcoin mining is exceeding the energy usage of medium sized countries. Which ones and how much usage? And why haven't we heard of energy problems? Again, he's just running with narratives.

If you read the replies to his tweets its just people constantly educating him on why he's misinformed and 8 years behind on information.

 

[Professor Emeritus]

this is environmentalist drivel. The largest concentration of mining is in China which no one gives a fukk about.

For one it means absolutely nothing since most power centers are using renewables and not burning carbon.

But in no way is anyone giving a shyt about environmental impacts of block chain tech. And you can ad hominem and misrepresent my arguments all you want but you nor I live in highly concentrated mining areas and barely anyone of the Chinese miners or people that live in these cities bring this up.

No one is feeling the effects of bitcoin mining because electricity prices have yet to spike nor do most of us live in China where most mining occurs.

It's not. And again - the vast majority of bitcoin mining , over 70% is done in China. No other country even has 10%. You nor I even feel the effects of this.

You don't live in China and neither do 99% of the people complaining. It literally has 0 effect on your life and barely effects the people doing the mining or the energy infrastructure of those cities. Even with only 40% renewable its still not polluting rivers, causing methane blackouts, and destroying the environment on the scale you think it is.

3.) People have been railing about bitcoin (specifically block chain technology) being an ecological disaster for over a decade. Even with mining activity being more concentrated than before, it seems these people miss out that many miners use renewable energies and are located in cheap electrical price areas. Years ago there was a legit debate about American mining groups looking to Indiana iirc because the electrical prices are cheap compared to most places. Other than that, most of these discussions about bitcoin being some ecological disaster are boogie man arguments.

I thought this was a terrible argument when you made it and it's only looking more and more wrong as time goes on:

China’s bitcoin mining is threatening its climate change targets, study says

How much Bitcoin comes from dirty coal? A flooded mine in China just spotlighted the issue

China is kicking out more than half the world’s bitcoin miners – and a whole lot of them could be headed to Texas

Bitcoin miners exit China, beat a path to the U.S. as crypto climate shifts

Bitcoin mining operations rise in US and Kazakhstan after China ban

How the U.S. became the world’s new bitcoin mining hub

U.S. small towns take on energy-guzzling bitcoin miners

Bitcoin Miners Are Giving New Life to Old Fossil-Fuel Power Plants



Literally everything you claimed about bitcoin mining was wrong. It WASN'T mostly renewable, it WAS causing an environmental impact, the people most directly affected DID care about its energy use, China WAS concerned with the issue, and now the energy use IS moving to America and IS using a lot of highly-polluting, highly carbon-producing energy sources right in our backyard in the process.

I hope since your foundational assumptions were wrong, this means you'll now change your position on the issue?

 

[SadimirPutin]

I thought this was a terrible argument when you made it and it's only looking more and more wrong as time goes on:

China’s bitcoin mining is threatening its climate change targets, study says

How much Bitcoin comes from dirty coal? A flooded mine in China just spotlighted the issue

China is kicking out more than half the world’s bitcoin miners – and a whole lot of them could be headed to Texas

Bitcoin miners exit China, beat a path to the U.S. as crypto climate shifts

Bitcoin mining operations rise in US and Kazakhstan after China ban

How the U.S. became the world’s new bitcoin mining hub

U.S. small towns take on energy-guzzling bitcoin miners

Bitcoin Miners Are Giving New Life to Old Fossil-Fuel Power Plants



Literally everything you claimed about bitcoin mining was wrong. It WASN'T mostly renewable, it WAS causing an environmental impact, the people most directly affected DID care about its energy use, China WAS concerned with the issue, and now the energy use IS moving to America and IS using a lot of highly-polluting, highly carbon-producing energy sources right in our backyard in the process.

I hope since your foundational assumptions were wrong, this means you'll now change your position on the issue?

You must be new here

They will handwave all that shyt away cause the magical fairy dust money parade must go on

 

[LV Koopa]

I thought this was a terrible argument when you made it and it's only looking more and more wrong as time goes on:

China’s bitcoin mining is threatening its climate change targets, study says

How much Bitcoin comes from dirty coal? A flooded mine in China just spotlighted the issue

China is kicking out more than half the world’s bitcoin miners – and a whole lot of them could be headed to Texas

Bitcoin miners exit China, beat a path to the U.S. as crypto climate shifts

Bitcoin mining operations rise in US and Kazakhstan after China ban

How the U.S. became the world’s new bitcoin mining hub

U.S. small towns take on energy-guzzling bitcoin miners

Bitcoin Miners Are Giving New Life to Old Fossil-Fuel Power Plants



Literally everything you claimed about bitcoin mining was wrong. It WASN'T mostly renewable, it WAS causing an environmental impact, the people most directly affected DID care about its energy use, China WAS concerned with the issue, and now the energy use IS moving to America and IS using a lot of highly-polluting, highly carbon-producing energy sources right in our backyard in the process.

I hope since your foundational assumptions were wrong, this means you'll now change your position on the issue?

China has banned bitcoin 20x times now. And those weren't assumptions - bitcoin mining is concentrated in China and still is. If it slips, oh well. Finally other people can get in the game.

Power grids don't differentiate on who gets electricity bruh. Unless you know for a fact someone is running power stations dedicated to bitcoin mining using "dirty fuel" then its just rhetoric. Not like the power grid in Niagara Falls switches fuels when they know someone is using more electricity than normal. The capacity is always there.

 

[Professor Emeritus]

China has banned bitcoin 20x times now. And those weren't assumptions - bitcoin mining is concentrated in China and still is. If it slips, oh well. Finally other people can get in the game.

Power grids don't differentiate on who gets electricity bruh. Unless you know for a fact someone is running power stations dedicated to bitcoin mining using "dirty fuel" then its just rhetoric. Not like the power grid in Niagara Falls switches fuels when they know someone is using more electricity than normal. The capacity is always there.

You just abandoned every single argument you made as to why the immense energy consumption of bitcoin wasn't important.

 

[LV Koopa]

You just abandoned every single argument you made as to why the immense energy consumption of bitcoin wasn't important.

Honestly bruh I'm tired as fukk and don't remember what the fukk I said. I don't feel like even going back and reading it either

 

[NatiboyB]

Honestly bruh I'm tired as fukk and don't remember what the fukk I said. I don't feel like even going back and reading it either