Kraken exchange CEO takes a jab at Elon Musk over altcoin dethrone Bitcoin

[suzanne5223]

Alot of people who claimed to be cryptocurrency enthusiast which are not to me cause they seem to underestimated Bitcoin potentials when they think a certain altcoin with good TPS will dethrone Bitcoin. The something happened when Kraken exchange CEO takes a jab at Elon Musk after Elon was if something else could replace Bitcoin which Elon called  “not green enough”, Powell said nothing can replace Bitcoin at the moment.

In his view, some 'greener alternatives' may appear in the future, but “Bitcoin is a lot greener than people give it credit for. It's a way to bootstrap renewables.”
Therefore, Bitcoin is already “doing a lot actually for the renewable energy sector.”

And, you know, I don't know how long Elon has been studying this but, you know, I think he's got some more studying to do on this topic.

Whats your thought and opinion about the statement?



Source

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[DeathAngel]

I love Jesse but Elon is a volatile Aspergers sufferer , I really do not think it’s a good idea to poke him with a stick because if he retaliates which he likely will, it hurts all of us.

[JeromeTash]

I love Jesse but Elon is a volatile Aspergers sufferer , I really do not think it’s a good idea to poke him with a stick because if he retaliates which he likely will, it hurts all of us.

John Mcfee used to move markets, where's he now? 

Eventually, people won't give a fuck about what Elon says and Bitcoin will move on. I think Elon Musk situation and tweets vs market movements keep getting exaggerated by mainstream media. I personally don't feel his tweets move the Bitcoin price these days.

[Oshosondy]

And, you know, I don't know how long Elon has been studying this but, you know, I think he's got some more studying to do on this topic.

No coin will be able to defeat bitcoin, and I wish enough of this Elon Musk misleading information. Almost all bitcoin miners are using green energy to mine bitcoin, he is only just trying to manipulate the market at the time. There is a coin I have just heard which I do not know if it is true yet, the coin called ElonCoin or something. The man is only manipulating the market and people, but no matter what his plan is, bitcoin remain the true decentralized cryptocurrency.

[Stedsm]

John Mcfee used to move markets, where's he now? 

Eventually, people won't give a fuck about what Elon says and Bitcoin will move on. I think Elon Musk situation and tweets vs market movements keep getting exaggerated by mainstream media. I personally don't feel his tweets move the Bitcoin price these days.

You're right, he's losing a lot more IRL followers than those who follow him online. And even I don't believe that it's him that's causing the selloff but the markets are going through the moments of pain just because there's too much FUD being added by China and USA that the investors are now more worried on their investments. I hope we don't see a market crash like we saw 2-3 years back or else investors will fly away and BTC will only become a pawn of those high end institutions who want to take it away from the hands of an average investor to make it their personal way of making money.

[stomachgrowls]

I love Jesse but Elon is a volatile Aspergers sufferer , I really do not think it’s a good idea to poke him with a stick because if he retaliates which he likely will, it hurts all of us.

John Mcfee used to move markets, where's he now? 

Eventually, people won't give a fuck about what Elon says and Bitcoin will move on. I think Elon Musk situation and tweets vs market movements keep getting exaggerated by mainstream media. I personally don't feel his tweets move the Bitcoin price these days.

He would really be walking on the same path as McAfee did on where the majority or the community doesnt already care into the words that he do speak on.They do love to criticized and decisions are actively changing making the public look like a fool but now what happened?

Elon was used to be loved before but having that single mistake or move then everything changes because of that green issues or environmental
which we wont know if this one is an actual reason or theres some big money behind on that one.

Sooner or later Elon wont really be having any charisma nor being too effective no matter what words would be spitting up into his mouth.

[jossiel]

I guess he can no longer take Elon's noise that has created ruckus in the community and has misled a lot of people already.

We will never know if Elon is taking seriously these arguments and answers especially if it is against to what he said. Whether he won't stop poking everyone there will those defenders that are in the business for years to answer his lack of understanding.

[yhiaali3]

These are Elon Musk’s misleading games. He is a businessman who manipulates Bitcoin prices in order to buy when the price drops and sell when the price of Bitcoin rises. In my opinion, Elon Musk does not care if the Bitcoin is green or not. If he was honest in his words, he could have created hundreds of Bitcoin mining farms that Powered by green energy, but he doesn't want it because it costs a lot of money and he wants to get bitcoin at the cheapest price.

[mk4]

Elon already responded, and some Bitcoiners are schooling him on the responses. Hopefully he finally let go of his ego a bit.

John Mcfee used to move markets, where's he now? 

Eventually, people won't give a fuck about what Elon says and Bitcoin will move on. I think Elon Musk situation and tweets vs market movements keep getting exaggerated by mainstream media. I personally don't feel his tweets move the Bitcoin price these days.

While I agree, Elon's simply just a different beast. McAfee is pretty well known in the tech industry but not that much with the masses. Elon on the other hand? Pretty much a household name now. I also like to think that people are a lot smarter than this though.

[Kemarit]

Bitcoin has survived a rough 10 years, so many arguments against them, so this is not something new, in 2017 we have heard many anti-bitcoin arguments specially how it is negatively affecting the environment. So this argument is just a repeat, just by this time, Elon Musk is the face of it.

However, I don't think that bitcoin can be defeated or dethrone by a so called 'green' altcoin. They are still consuming electricity regardless of the source. So this kind of argument is flaw in the beginning. And not even a billionaire can stop Bitcoin now.

[TangentC]

Bitcoin has survived a rough 10 years, so many arguments against them, so this is not something new, in 2017 we have heard many anti-bitcoin arguments specially how it is negatively affecting the environment. So this argument is just a repeat, just by this time, Elon Musk is the face of it.

However, I don't think that bitcoin can be defeated or dethrone by a so called 'green' altcoin. They are still consuming electricity regardless of the source. So this kind of argument is flaw in the beginning. And not even a billionaire can stop Bitcoin now.

IMO 
The Green Altcoin that will dethrone Bitcoin is called Cardano.
It is 1.6 million times more energy efficient than Bitcoin.

It is a 3rd generation blockchain design, while bitcoin is a mere 1st generation blockchain design.

https://roadmap.cardano.org/en/

Cardano is a groundbreaking proof-of-stake blockchain network, being developed into a decentralized application (DApp) development platform with a multi-asset ledger and verifiable smart contracts. Built with the rigor of high-assurance formal development methods, Cardano aims to achieve the scalability, interoperability, and sustainability needed for real-world applications. Cardano is designed to be the platform of choice for the large-scale, mission-critical DApps that will underpin the economy of the future.

Based on peer-reviewed academic research, Cardano has an ethos of openness and transparency. All of the research and technical specifications that underpin Cardano are publicly published, and all Cardano development activity is made available to the public. Cardano is designed by a global team of experts who are leaders in disciplines ranging from distributed systems to programming languages and game theory and is jointly developed by IOHK and partners. IOHK develops the technology, the Cardano Foundation is responsible for supervising development and promoting Cardano, while Emurgo drives commercial adoption. While we are building Cardano, we are merely custodians. When the network is fully decentralized it will belong to the community, and it will be the community who decide its future through advanced governance features.

[Darker45]

It is funny how cryptocurrency is now being dragged into a battle of whether a coin is greener than the other. It's interesting how other coins are now shifting stance and are now focusing more on promoting themselves as the greener choices. What the heck! It's getting too far from the issue. We are not trying to come up with a currency which is better than the existing and ruling fiat in terms of energy consumption. I guess that's not the point.

[amishmanish]

And, you know, I don't know how long Elon has been studying this but, you know, I think he's got some more studying to do on this topic.

Whats your thought and opinion about the statement?

Source

IMO, Elon should have by now understood that Bitcoin's decentralization is important. He should have known the history of the blocksize debate and bitcoin going the path of L2 to scale while ensuring maximum censorship resistance.

Clearly he hasn't understood these things or this "green energy" question from his side would be over. The "Based on what data?" could simply be rhetoric or may even be a genuine question. I think its the former. He still fails to see Bitcoin as a phenomena that has never happened before and is yet to be replicated.

Once can only hope that he'll come around to the realization. The problem is that he seems to be really enjoying having all those people beg him and praise him for the DOGE branding. This open him up to Shitcoiners who are always ready with their "low-energy" alternatives with a foundation/ corporation behind them. Adam Back, Peter McCormack, Todd and others are trying occasionally. Mow doesn't seem to be making a difference (I don't know why but he never seemed all that genuine to me ever). Just makes pointless jabs at Musk's tweet. My greatest hope right now is on Adam Back and Saylor to engage Musk. He cannot be ignored and allowed to fall for the cheap medicines that the shitcoiners offer.

[hatshepsut93]

In his view, some 'greener alternatives' may appear in the future, but “Bitcoin is a lot greener than people give it credit for. It's a way to bootstrap renewables.”
Therefore, Bitcoin is already “doing a lot actually for the renewable energy sector.”

Is this statement backed by any data? And preferably more than just a few anecdotes. Cause people sometimes say that Bitcoin enables renewables, makes them economically viable, but this sounds more like a theory to me than actual practice.

My stance on Bitcoin and environment is that while Bitcoin does negatively impact it, this impact is so small compared to other industries, that even if all mining stops, the difference in carbon emissions will be within the margin of error.

[suzanne5223]

I love Jesse but Elon is a volatile Aspergers sufferer , I really do not think it’s a good idea to poke him with a stick because if he retaliates which he likely will, it hurts all of us.

Elon influence on naive crypto investors won't last forever, he's just a single man who's still naive about the whole concept of Bitcoin and if the government cannot do much damage to Bitcoin, Elon can't either. Besides, to me he's just an ingrate to Bitcoin because his integration of Bitcoin payment on Tesla helped him to secure his position as Tesla Chairman.

[Yaunfitda]

It is funny how cryptocurrency is now being dragged into a battle of whether a coin is greener than the other. It's interesting how other coins are now shifting stance and are now focusing more on promoting themselves as the greener choices. What the heck! It's getting too far from the issue. We are not trying to come up with a currency which is better than the existing and ruling fiat in terms of energy consumption. I guess that's not the point.

Oh well, maybe they thought that they can ride on the hype of the current market. Musk started this whole drama, yes this has been discussed before, but it never garnered so much attention until Musk called it out. And then the whole market reacts, focusing on which coins is greener friendly. I don't what to say this, but the market has turn into a circus since Musk entered the picture.

[SFR10]

Whats your thought and opinion about the statement?

https://i.imgur.com/UnUIhXP.png

Elon already responded, and some Bitcoiners are schooling him on the responses. Hopefully he finally let go of his ego a bit.

Powell has a point but the fact that EM bases his judgment purely based on data, clearly means he never fully understands some of the things ^{[e.g. BTCitcoin]} that he talks about ^[SMH].
^{- I'd love to see one of the developers [or anyone with good knowledge about BTCitcoin] having a 1 on 1 conversation with that freaking clown, but at the same time, we should really forget about that attention-seeking whore}

[pooya87]

I love Jesse but Elon is a volatile Aspergers sufferer , I really do not think it’s a good idea to poke him with a stick because if he retaliates which he likely will, it hurts all of us.

John Mcfee used to move markets, where's he now? 

Eventually, people won't give a fuck about what Elon says and Bitcoin will move on. I think Elon Musk situation and tweets vs market movements keep getting exaggerated by mainstream media. I personally don't feel his tweets move the Bitcoin price these days.

It has been happening already, he has lost credibility and the "popularity" he had and people have stopped paying him as much attention as they were at the beginning. But the problem is that Elon Musk is not going to go away that easily, he is also notoriously trying to still stay relevant. For example recently when price went back up to try the $40k resistance for the third time he immediately made a vague "positive" tweet and a lot of idiots on the internet started saying "he was the reason for the rise"!

[Wind_FURY]

What the Bitcoin community should be doing to Elon Musk.



He’s merely a troll, who listens to the FUD, and re-uses those ideas, then tweets them as his own. I truly believe that he might not have done his own research about Bitcoin. OR, he might still be in the beginning of his journey. He will learn the hard way like everyone.

[Lorence.xD]

I love Jesse but Elon is a volatile Aspergers sufferer , I really do not think it’s a good idea to poke him with a stick because if he retaliates which he likely will, it hurts all of us.

Don't think the hurt will last a lifetime though, I am pretty sure that people are going to move on and the damages will always be repaired, remember that this is decentralized, no one can take away the power even if people are trying to take over via influence.

[20kevin20]

Honestly, he deserves the roasts he gets right now from everyone around. This is what happens when you're using an asset to manipulate it to your own advantage without even knowing much about it. I get it, he wanted to be trendy, but as soon as he turned into a b*tch karma got him back. This is quite close to all those McAfee advertisements about "privacy coins" that are nor even coming close to privacy. You can't keep doing this firever, because at some point we catch up with the lies. As a Romanian saying is, "a lie has short feet".

Bitcoin is irreplaceable. At least now, with the currently existing tech. The only proper competitor I personally see is Monero, and it only has a chance to defeat Bitcoin if everyone suddenly cared about privacy. But that's a quite low possibility because people care about profits more than anything. And let's be honest, how many of us search for crypto based on how "green" they are?.. exactly, nobody really cares as long as a financial freedom is guaranteed

[aysg76]

Elon Musk has eradicated his image for being a tech genius successful running different companies to the new Market manipulator of cryptocurrencies.So my question is are these "greener alternative" or so called altcoins running on POS or any other mechanism reliable in providing security to the users as Bitcoin is providing with miners and nodes.The other options dilute the concept of decentralisation as validator who lock more coins get more power making it Centralised system.Bitcoin difficulty has increased so is the electricity consumption but now they are moving to renewable resources like El Salvador is opting for geothermal power,American miners planning other resources and in future most of them will shift to renewable energy sources only.But btc will always remain on top of altcoins no matter what Elon Musk or other influential personalities have to say.

[kryptqnick]

I don't think that Elon Musk will find this greener option, and even if he does, it'll be very hard to overthrow Bitcoin like that. Let's say Musk creates a coin and invests a couple of billions of dollars into it (as he did with Bitcoin). The coin would also get hyped and more investments would arrive. I think it can put a coin in top-30 by market capitalization, but not in even in top-10 (just looking at market capitalization of coins and thinking based on the figures). He could also take an existing coins and pump it up. Dogecoin would be the most realistic solution for this. Dogecoin is already very pumped due to Musks acvitities, so the marginal value of Musks actions with it is probably getting lower. But let's say it miraculously doubles in market capitalization, adding $38 billion. This would make it #3 at best, not even surpassing Ethereum, let alone Bitcoin.

[electronicash]

the talk about green energy will eventually die. over the years the discussion will die even when the bitcoin miners will still be mining using coal. It's been that way since. there is no way any altcoin would overthrow BTC. Charles of Cardano also troll about BTC's utility but it won't really make any difference. we are already used to using BTC and more countries are participating already.

many will come just like him Ronald instantly becomes like a Elon when he trolled Coca-Cola. Beckham can also be one soon or someone else that's famous.

[Wind_FURY]

the talk about green energy will eventually die. over the years the discussion will die even when the bitcoin miners will still be mining using coal. It's been that way since. there is no way any altcoin would overthrow BTC. Charles of Cardano also troll about BTC's utility but it won't really make any difference. we are already used to using BTC and more countries are participating already.

many will come just like him Ronald instantly becomes like a Elon when he trolled Coca-Cola. Beckham can also be one soon or someone else that's famous.

The “green energy debate” is also very hypocritical coming from those people who use it against Bitcoin. Would those same people also use the same debate for other “wasteful” use of electricity like Christmas lights during the Christmas Season?