Bitcoin Forum

Why are people busting out about the fact Elon and Saylor are talking with minders about reporting their energy mix?

This can only be good for reporting North America’s Bitcoin mining footprint?

And about “centralizing miners”, only large huge miners have a chance at getting a block so it’s already conglomerates mining. How decentralized is mining really? That can’t be the reason. Thoughts?

It has to be discussed with urgency, as it was brushed under the rug during covid.

It should especially matter to Bitcoin evangelists and maximalists, as if Bitcoin were ever to reach the same market capitalization as the US Dollar, it would need half of the world's electricity to support it.

They want to make bitcoin mining an industry with their permission.

Elon buys bitcoin, tesla buys bitcoin, tesla accepts bitcoin, then announces he is selling bitcoin simply because of the energy usage and tesla will no longer accept bitcoin for purchasing a tesla.
Do you really think Elon didn't know about the energy problem? Do you really think Elon putting people on Mars is environmentally friendly?
He is simply manipulating the crypto market for his and only his benefit in mind.

This is to counter the fud about mining about energy and because there seem to be discussions about BTC coming from China wouldn't be good as fud. In fact, Kevin O'lery said the coins from China shouldn't be acceptable because they are mined thru the energy coming from coal. Saylor talks about more energy is being wasted than the cost of mining BTC. He is trying to fight against the fud.

We can stop talking about him. We are particularly disgusted with him now.

I mean who really cares, they are pushing for carbon taxing bitcoin miners and it will just make the price go up more for all you fiat loving fairies.

Because malicious people such as Elon Musk don't care about bitcoin or the miners' energy consumption. All they care about is their own pocket and their public image. And Elon is milking the situation as much as he can which is what makes people who aren't blind, angry.

Miners are fully decentralized as they are individuals who have made the investment in mining equipment and are spread across the globe.
Mining pools (that those miners connect to) are also decentralized since we already have about 20 of them each having multiple servers in different locations and the biggest one only has about 17% of the total hashrate. This doesn't change anything about decentralization of mining because mining pools don't own the hashrate, they are just servers where miners connect to in order to share the work.

It is not bad for the world, any industry or bitcoin mining to switch and use more clean and renewable energy. We are all living on Earth and need to contribute as best as we can to protect the Earth's environment. To reduce effects from Climate change, global warming and have adaptation, clean & renewable energy should be used more.

It is bad when media takes it and spreads fud. Their intention is fud, not for the greener Earth.

Debunking the "Bitcoin is an environmental disaster" argument. (https://bitcointalk.org/index.php?topic=5325350.msg56613804#msg56613804)
Study: Over 74% of Bitcoin Mining is Powered by Renewable Energy (https://cointelegraph.com/news/study-over-74-of-bitcoin-mining-is-powered-by-renewable-energy). Clean enough?

Then which miners belong to the 74% you mentioned? And who/how to judge?

Now at least we know who wants to be the judge.

Energy consumptions and go greens are the shields for Elon musk or any billion dollar investors if we discuss.
It’s a simple technique to divert peoples mindset to something that they want. The dream of green planet, clean city rods and pure air to breath.

Sounds clean isn’t it? This clean is nothing but the black hole for the Elon who activate it and put people in there while on the other side he would be doubling or tripling his money.

That’s why they care more about it in the first place.  ;)

He has to fund the space programs which could take up to trillions of dollars and crypto is the only source where unlimited money can be circulated.

Dot!

Is there a "North America Bitcoin mining footprint"?How many Bitcoin miners are located in North America?
Elon Musk tries to look "green" and "environment-friendly" again.I guess that he conveniently forgot about Bitcoin mining,when Tesla bought 1.5 billion USD worth of Bitcoins.What a hypocrite.
BTC mining is decentralized,because there's no monopoly.The size of the miners doesn't matter.If one big miner gets out of the mining industry,the mining difficulty will get adjusted,so I don't see any problem.

Do you think for one moment that those people really care about the Bitcoin mining energy consumption and footprint? My guess is that his marketing team have realized that millions of people (potential customers for their products) ..have been burnt by Elon Musk's reckless social media activities and all of this is done in a publicity stunt to repair the damage that was done.

Elon Musk's tweet was the trigger for a almost 40% drop in the Bitcoin price and also a domino affect on the Alt coin market and Crypto traders will look for someone to blame and Elon Musk is one of those targets for their anger.  ::)

I for one, will never buy any Tesla or Powerwall after this fiasco, because Elon Musk is treating Crypto currencies as his playground and he is throwing his wealth at it to manipulate the prices.  >:(

I don’t have a problem with the meeting about clean energy, I in fact think it’s a great idea. It will remove one big tool Bitcoin FUDders use. I have a problem with market manipulation. He is not stupid and knows what he says affects the market significantly. I hope that what he says stops affecting the market as it does now.

People need someone to blame. They made bad decisions. They got greedy. They got memecoins. They had a lot of fun and 10x profits that they forgot to realize.

Then now they're seeing it all turn to dust, so of course, they have to look for people to blame. And it's easy to do so with Elon and Saylor etc.

Centralization if it's so important to people, they would realize only Bitcoin is the most decentralized.

It shows that american miners are seriously worried about what Elon Musk thinks about them and Bitcoin, and it can't be a good thing, it's essentially giving Elon more and more influence. If only they ignored him, the market would stop caring, but now it's likely that Elon's crypto market manipulation will continue.

The first time I read Saylor's tweet about his discussion with Elon and a North American bitcoin miner on the issue of mining energy, I immediately thought in my head that Saylor cared about Elon's comments and immediately started a meeting with them to fight the fud that was going on.  I salute Saylor for being structured in giving her opinion in the media.  He is currently very much awaited by the news regarding his views on the ownership of BTC which is 2.5 B USD.  Perhaps without any response Saylor the market will continue to dump below its 36K USD support point.  Every day in the money market the loss is 100-300 B USD, and when compared to the market capital about 10-20% is lost, so it's natural that the market reaction is still bearish.

It is already known that the majority of crypto mining is powered by green and renewable energy.

The agenda demanding better energy reporting endorses false claims of the majority of crypto mining being powered by coal and environmentally unfriendly sources of power.

Elon Musk and Michael Saylor are not clarifying the issue with their narrative. They're doing the opposite. Their stance is one where crypto miners rely on a lack of transparency and reporting standards to keep the public in the dark as to the extent of how crypto mining damages the environment. The entire thing is not only untrue. But might be considered a misinformation campaign.

Well, if we are talking about things already known, then we already know Elon Musk doesn't know everything about crypto.

1. He gets onto bitcoin and then later finds out it is energy intensive.
2. He gets onto dogecoin and then claims he will work with developers to improve... a memecoin?

They're just like us. Normal people with normal beliefs and not a shred more of information than us.

I agree that it is hard to believe that he didn't know about the energy problem. Tesla's market cap is down something like $200 billion since they announced buying bitcoin, but maybe Musk is playing some reverse psychology game- https://mattelston.com/2021/02/10/elon-musk-a-reverse-psychology-genius/

Elon Musk must have known about the energy problem before deciding on Tesla to accept Bitcoin payments. This is just part of Elon Musk's plan
to be able to manipulate the Bitcoin price, which Elon Musk did with Dogecoin. Therefore, we all shouldn't be influenced by whatever Elon Musk said,
just ignore people like Elon Musk. Because I also believe Elon Musk's other companies definitely can't be all environmentally friendly. Actually,
rich people like Elon Musk are indeed the real goal of joining the crypto world, because he sees an opportunity to be able to make a profit.
So he will definitely do whatever it takes to manipulate the crypto market, and be able to get the profit he wanted in the first place.

Yeah. Soon he will flip again once he recover loss on Tesla, Bitcoin is just his source of extra income no string attached. He can hype it and create a constructive criticism against Bitcoin once he already sold to scoop again on lower price while boosting again confidence on his Tesla company. A win win situation for him and too bad for investors whoever on the losing side.

There should be no councils in Bitcoin. Assume any organization, council, group, corporation or board will eventually be corrupted.

Anytime someone is trying to act as an authority figure people will be suspicious about their motives. If billionaires somehow were able to influence a majority of miners to do their bidding it would destroy Bitcoin. They could make changes to benefit their corporate interests. It is preferred to keep mining as decentralized as possible instead of having to be accountable to any leadership.

Is Bitcoin mining council ever exist since? When BTC started, everyone with computers can just mine and earn BTC with it and then ASIC comes to mine BTC as hash spikes, there was no Bitcoin mining council that goes directing them to do this and that.

But this is Saylor probably educating the public and making the people learn about the electricity cost fud. If China bans BTC for institutions and blocks it for the growth of their economy, its for China it's their laws not for the entire world.

it narrative control.   

I think that in general, the topic of using cryptocurrency for mining is more due to electricity, which will be produced from renewable energy sources, in principle, it is necessary and timely. Of course, if only it did not rise deliberately to damage the image of the cryptocurrency market. After all, our safe existence on this planet on a global scale is much more important than even the existence of the cryptocurrency market. After all, if there are no people on this planet, then the cryptocurrency I will disappear. Therefore, miners need to pay considerable attention to this topic and make efforts to ensure that energy for mining is used from their renewable sources.

They also tried that, remember? New York conference miner group or whatever in 2017. Tried to blackmail Bitcoin into following what they want, and now most of those people either pretended it didn't happen or just kind of apologized and went back to normal.

Corporate interest all the time whenever this sort of "council" talk is brought up and to pretend to be good for the community pah.