I don't want to debate but i'll read some stats but you didn't even deny the sweat shop comp so maybe we're just on wildly different planets here
I hear the complaints about btc using a ton of energy and it sucks, but I don’t know that it’s totally fair to blame Bitcoin for the means of energy production. BTC needs computers, it doesn’t care how those computers are powered. We are all using devices that run on computer networks with data stored at a data center somewhere that also uses a ton of energy. Different efficiency to spin disks vs power GPUs but we are discussing the fact we don’t like tech using energy. I realize this isn’t a strong argument and basically comes down to “I see you are criticizing society, yet you LIVE in society. Curious!” But trying to act like BTC bears responsibility in the climate crisis seems like more of a stretch than defending BTC’s energy use. It’s criticism that is valid for a number of less sexy enterprises.
kind of giving away the game at the end, this one industry with questionable at best utility is outpacing most countries on earth, what other sector fits that?
You can’t decide that the utility is questionable at best. And you could list a number of existing industries that already outpace a number of countries as well. We can spend all day listing destructive industries. Let’s move this convo over to the Golf Thread and discuss how destructive courses are. I don’t think anyone is arguing it’s cool to use a ton of energy for a digital good. I just think it’s a dumb argument that doesn’t go anywhere unless you want all the btc owners to “think about what they’ve done.” If that’s the case, done.
Lyrtch doesn’t really have any practical solutions to the problem, he just wants to use semi-Socratic questions/observations to make himself sound knowledgeable on the issue
I agree. Devs do as well. The problems of scale being thrust to the forefront are being dropped on a responsive and caring community capable and willing to solve them. Certainly not a pretty picture right this second though I suppose you could argue that the value derived from Web 3.0 isn't worth the short term cost, but idk. It's kinda the original vision of the web that was taken from us over the years. We all freely exchange uncensored information instead of just consuming advertisements. But if we're going to let the corps keep all the power that was supposed to be for us, I guess either let's trash the entire experiment or go ahead and point me to the nearest suicide booth, because my time on this planet was a waste
I feel like this is the exact same argument that gun owners use against reform saying “well we can’t just ban guns so why do anything?” Acknowledging a problem is not saying the whole system is unsustainable for the future. Incentivizing green mining is doable.
I think there is a pretty big difference between saying ban guns and saying ban energy production or ban anything that uses non green energy. I don’t think anyone is disputing the fact that it’s bad that btc mining leads to fossil fuel emission. No one is saying green energy is bad.
I don’t know jack shit about crypto but I bought the dog coin a while back to piss off a friend of mine and I am now a successful crypto dude
Nic Carter has written...idk....10 well researched articles on btc energy consumption. Anyone actually interested in the topic should probably start there. But if you’re like Lyrtch and deciding you get to be the ultimate arbiter of Btc’s utility while ignoring the same for literally every other use, then this isn’t a discussion much worth having. articles: Probably his most read: https://www.coindesk.com/the-last-word-on-bitcoins-energy-consumption https://www.coindesk.com/frustrating-maddening-all-consuming-bitcoin-energy-debate https://www.coindesk.com/what-bloomberg-gets-wrong-about-bitcoins-climate-footprint
Also quick, someone tell me how much energy is used to support the current global financial system? Or gold mining? Or the US dollar as a global reserve currency? Or Christmas lights? This is another issue where if your take is “btc...energy...bad” then it’s worth doing some research and not falling for whatever clickbait article you read about btc consuming more energy than country X.
The Norwegian billionaire energy guy wrote a shareholder letter that in part addresses energy consumption: https://www.seetee.io/static/shareholder_letter-6ae7e85717c28831bf1c0eca1d632722.pdf
The Stone Ridge shareholder letter addresses energy consumption: https://www.microstrategy.com/en/bitcoin/documents/stone-ridge-2020-shareholder-letter
Good read about mining and the O&G industry from Uncle Marty and the good folks at Great American Mining https://gam.ai/blog/bitcoin-a-way-to-make-the-oil-and-gas-industry-more-resilient.html
The whole talking point is funny to me because it gets brought up in the news hard every few months and the exact same things are said in response and it's just a lot of "ya but still"
Carter video/podcast appearances on the topic: https://www.bloomberg.com/news/vide...-bitcoin-s-climate-footprint-nic-carter-video https://www.whatbitcoindid.com/podcast/beginners-guide-15-bitcoin-fud-with-nic-carter https://podcasts.apple.com/us/podcast/nic-carter-partner-at-castle-island-ventures-quality/id1434060078?i=1000438152919
Best I can tell, it’s only even an issue because this is something that can easily be tracked in the btc ecosystem. For literally everything else that consumes energy, people are cool not knowing.
Does anyone wonder if Tesla—the company that is kinda committed to green energy—thought about this issue at all before buying $1.5B worth?
Shill me baby, I had someone else mention it to me but never looked into it. Give me the elevator pitch
My very rudimentary understanding is that the 2 main benefits are: 1. It's deflationary, so every time someone sells, there is a 10% fee. 5% gets burned forever, which increases the scarcity for everyone else. 2. The other 5% is distributed amongst the other holders. For example, I watching tonight and gained about 8k shares in 30-45mins. Other pros: - It's not listed on any exchanges yet, but there are supposedly 2 listings that are "imminent." It's currently a pain in the ass to buy (took me about 45 mins, but again, I'm new to this). Being listed should streamline that process. - It's early- has only existed for a month or so, so room to grow - It's recently been #1 for online crypto searches in both Asia and Africa Here's a quick blurb:
I'd be interested to know who the team is and also who's backing it. I weigh the backing pretty heavily if it's something that I'm trying to get a good sized position in. (Translation: I blindly buy whatever Three Arrows Capitol is supporting)
lol literally any negative to btc is met with 30 posts on why it's not a real negative. Every single time. It's pointless to even try to have a discussion on it bc a couple maximist refuse to acknowledge anything but btc being perfect and on its way to ruling the world.
Then stop trying, everyone else's experience will be that much better (maybe with the exception of inflation denying chode man certified TMB genius Lyrtch)
I’m confused. Are you saying posters shouldn’t bring any possible BTC criticism into a thread about BTC?
Sure. But not everyone ITT are maestros like a chunk of you. I’m not one to side with dbl, but a chunk y’all seem to get very touchy about stuff for whatever reason.
And you can flip this around and say some posters just show up here to shit post their opinions, almost daily, about how they feel about some posters typing words or sharing tweets If y’all don’t like the way conversations are going it’s much better to ignore it or change the subject instead of quoting certain people or whining let’s not do this again today please
I’m not trying to do anything other than make an observation. I’m sure if someone would have explained to him why it’s not that big of a deal, all of this could/would be avoided. But instead it’s a big song and dance to try and make dbl out to be a problem.
By all means, bring the criticism. And then when it’s met with 15 posts with links to articles and podcasts, read and listen to them. If you’re new to this space, realize that the traditional negative narratives about btc—tether, energy consumption, it’s for criminals, it’s backed by nothing, etc.—have been around for years bordering on a decade for some. They are not novel thoughts. They have been addressed ad nauseum. Showing up to post “here’s an interesting tweet about tether” is lazy and rightly met with an information dump telling people to do the research and otherwise go away.
I ignore dbl so don’t know how this all started. Just saw the energy back and forth. sigh. You could start with the 20+ posts above.
I’ll be 100% candid with you, I take everything you say about crypto with a grain of salt due to your bias