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Author Topic: [2021-05-08] Bitcoin’s dirty little secret: It’s not easy being green  (Read 202 times)
bbc.reporter
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May 12, 2021, 12:51:46 AM
 #21

Only if ppl use Bitcoin for all sorts of electronic interactions of value - Bitcoin is sustainable

I am supportive of the people who want bitcoin as a form of digital cash, however, it cannot be because of its monetary policy. Everyone should accept that it is a great success as a form of speculative investment and asset for value growth during bull markets.

There was one small line of code Satoshi was told to inject - and had beed set to get phased out later: max_block_size - a capacity (limiting) parameter

That's just not needed at all, but still cripples btc - not bsv

It just makes Bitcoin fully efficient - and nobody would argue about energy any more

I was talking about bitcoin’s monetary policy. The size of the blocks is only a small part of why bitcoin is being used substantially as a speculative investment than a real currency.

Wei Dai has written about this on 2013.

https://www.lesswrong.com/posts/P9jggxRZTMJcjnaPw/bitcoins-are-not-digital-greenbacks

Also, BSV is a scam and you are being annoying. Stop mentioning this in discussions.

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May 12, 2021, 07:14:59 AM
 #22

Only if ppl use Bitcoin for all sorts of electronic interactions of value - Bitcoin is sustainable

I am supportive of the people who want bitcoin as a form of digital cash, however, it cannot be because of its monetary policy. Everyone should accept that it is a great success as a form of speculative investment and asset for value growth during bull markets.

There was one small line of code Satoshi was told to inject - and had beed set to get phased out later: max_block_size - a capacity (limiting) parameter

That's just not needed at all, but still cripples btc - not bsv

It just makes Bitcoin fully efficient - and nobody would argue about energy any more

I was talking about bitcoin’s monetary policy. The size of the blocks is only a small part of why bitcoin is being used substantially as a speculative investment than a real currency.

Wei Dai has written about this on 2013.

https://www.lesswrong.com/posts/P9jggxRZTMJcjnaPw/bitcoins-are-not-digital-greenbacks

Also, BSV is a scam and you are being annoying. Stop mentioning this in discussions.

BSV is just clean refactorerd Bitcoin - worth mentioning - but also sustainable cause it scales

Not scaling is the dirty part - as well as the try to censor

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May 12, 2021, 06:12:55 PM
 #23

I think fans of green ideas should pay more attention to powerful energy companies that spill oil, burn coal and other toxic industries that really and objectively spoil the air for all of us and poison the environment. It would also be nice to remind the Japanese that pouring toxic water from their damaged station is bad, and of course remember about cutting down green forests and draining rivers and lakes! What does bitcoin and its mining have to do with it? Do they really think that even if these capacities are stopped, they will not immediately be used for some other needs? This is logical. In my opinion, all these green activists are just crooks who fulfill someone's orders.

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May 12, 2021, 09:17:18 PM
 #24

I think fans of green ideas should pay more attention to powerful energy companies that spill oil, burn coal and other toxic industries that really and objectively spoil the air for all of us and poison the environment. It would also be nice to remind the Japanese that pouring toxic water from their damaged station is bad, and of course remember about cutting down green forests and draining rivers and lakes! What does bitcoin and its mining have to do with it? Do they really think that even if these capacities are stopped, they will not immediately be used for some other needs? This is logical. In my opinion, all these green activists are just crooks who fulfill someone's orders.
That's it. They always put that blame to bitcoin that consumes a lot of energy but ever since bitcoin was made and launched, there has been an enormous energy consumption from the different industries and they don't have anything to say with it.
The media is even putting all the highlight on it to brainwash the people that bitcoin is doing no good because it affects the environment as if it's the only one that consumes too much energy for its operations.

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May 14, 2021, 05:59:48 AM
 #25

https://coincarboncap.com/


Carpe diem  -  understand the White Paper and mine honest.
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May 16, 2021, 08:42:12 PM
 #26

Hopefully the evil genius didn't make the decision to stop using bitcoins when buying his cars because of this article! In general, I'm wondering if Elon Musk didn't know how the cryptocurrency is mined and the inspiration came to him now? In my opinion, it was clear from the very beginning that with an exponential growth of production and the production capacities themselves, this would require more and more energy? In general, he has an interesting understanding of how production works and where does the generation of electricity come from ?! Smiley

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May 19, 2021, 05:56:39 PM
 #27

The problem here is that everyone can choose the green method but won't use it because it won't give benefit to them. They rather choose the dirty cheap method that would somehow going to affect the climate change. To cut it short, people like these doesn't really care about the environment neither the climate effect of what they were doing. It's like if the other countries can use why can't we can and the process of destroying earth is still going on. They only care about what could benefit to them despite the fact that they were slowly destroying the environment. Bitcoin has nothing to do with this crap since we all have a choice what power source we should use.

The thing is that much (I don't think that it has been quantified) of bitcoin mining is mined using spare power - e.g. power that would otherwise be dumped.  E.g. a hydropower station might produce X, but only uses .9X much of the time so that extra 10% would just be lost or wasted, not stored.  

So there are plenty of either intentional falsehoods because people don't want bitcoin to succeed because it will remove some of their power or there are people aren't fully informed who are reposting inaccurate information.

(Proof of) Work provides security to the blockchain.  If you compare, say, the total cost and total carbon footprint of the requirements needed to secure the Euro, the Dollar, the Yuan, or Ruble, you would find that they each vastly dwarf bitcoin.  What is needed to secure the US, China, Europe or Russia and hence their currencies?   (See e.g. nothing at stake etc).  Physically printing currency or electronically creating it is not the only cost.  Without the ability to protect itself any of these places would be overrun and the currency - since all are fiat - would become worthless.
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May 19, 2021, 08:34:27 PM
 #28

When you own a medium-sized or large-scale production, you perfectly understand what the idea of ​​green technologies and green energy is nothing more than a simple deception. You can fantasize as much as you like on the topic of such an economy of the future, but when it comes down to reality and facts, then your opinion should change. All these technologies, in terms of their efficiency, cannot be compared with the generation provided by existing "dirty" energy resources. It's time to admit that our entire civilization works and lives at the expense of this "dirt".

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May 21, 2021, 07:04:26 AM
 #29

It must be nice to just cherry pick information to serve a specific agenda ... and in this case, a single Chinese mining operation near a Coal energy plant are used, but what they do not tell you is that China is the worlds largest producer of hydro power in the world and that many of the large Bitcoin mining farms are also strategically situated near these plants.

Source : https://www.statista.com/statistics/265570/top-countries-by-hydropower-consumption/

So let's give all the information when we talk about power usage for mining and the FUD that are being distributed by poorly researched articles that are posted by mainstream media with hidden agendas.  Roll Eyes

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