Elon Musk Torpedoes Bitcoin

[Alvez_48]

how many data centres have you built mate? I was the chief service architect for one for a government agency recently, part of the biggest migration project in europe at that time. Even modern data centres are extremely intensive. Better than they used to be using blade rooms with hot/cold aisle air pressure differences instead of fans, but it's still intensive.

In the UK they are at best hybrid, but many are still non-green. The huge amount of computing power used for bitcoin mining is not all renewables, particularly in countries like china where renewables are a tiny proportion of the overall energy generation. The thing is, whatever is diverted to fulfill demand from data centres, is not used elsewhere and the short fall is often fossil fuels.

It's kind of like the discussion we had on here a couple of weeks ago about electric cars. That as demand increases fossil fuels take up the slack.

Weirdly I've built a couple and work in around them often and everything you say is totally true undeniably. My point is more in regards to game theory and banking and the financial industry general absolutely dwarfing the power used by bitcoin and cryptos.

And you know I'm only winding you up calling you old and clunky, you know I have love for you.

 

[BoroMart]

Weirdly I've built a couple and work in around them often and everything you say is totally true undeniably. My point is more in regards to game theory and banking and the financial industry general absolutely dwarfing the power used by bitcoin and cryptos.

And you know I'm only winding you up calling you old and clunky, you know I have love for you.

Yes I worked on a few banking DCs too, we need to start to tax these big data centres, that'll save a lot of jobs being automated and save the planet.

I'm getting old, and I'm chunky not clunky

I need to book in for solar panel do my bit for the planet, walk the walk a bit more

 

[lostinyorkshire]

If you read the tweet take note

'we are not selling bitcoin'

Of course he bloody isnt. Probably scooped up alot more today!

Oh and mining gold etc uses far more energy. In fact Im quite sure in their drive to make profit mining cryptos the knowledge in this area is probably driving the technology into cheaper energy sources faster than any other industry

 

[BoroMart]

Oh and mining gold etc uses far more energy. In fact Im quite sure in their drive to make profit mining cryptos the knowledge in this area is probably driving the technology into cheaper energy sources faster than any other industry

it really isn't. The Green IT drive preceded crypto by many years. Plus cheaper doesn't always mean greener.

Yes mining precious metals uses lots of energy, but it has intrinsic value to the human race, it's used in various technologies that enhance our lives, crypto enhances the lives of a small number of people by making people that can afford to invest wealthier.

 

[BlindBoyGrunt]

Oh and mining gold etc uses far more energy. In fact Im quite sure in their drive to make profit mining cryptos the knowledge in this area is probably driving the technology into cheaper energy sources faster than any other industry

Yes, blockchain isn't just used for crypto currencies, it is used all sorts of reasons.

 

[Soutra]

Safemoon does nothing though

How can any crypto currency be better or worse than any other? They're all entirely and absolutely speculative. There's no asset base, no residual value in any of them. They're all reliant on someone like Elon Musk endorsing them. He gives the endorsement, the cryptocurrency rises. They withdraw the endorsement and it plunges. Save for the fact that you lose your money more quickly, roulette is a similar way of "investing".

 

[FatCat]

regardless of his motives for saying it, Bitcoin mining and all crypto currency mining is a hugely resourceful intensive planet killing mess. I'm glad he said it

There is a company Argo which mines crypto in an environmentally friendly way - there are also about ten coins which are environmentally friendly both in terms of energy consumed and concept. I think these ones will be the leaders going forward

!https://www.leafscore.com/blog/the-9-most-sustainable-cryptocurrencies-for-2021/

 

[BoroMart]

There is a company Argo which mines crypto in an environmentally friendly way - there are also about ten coins which are environmentally friendly both in terms of energy consumed and concept. I think these ones will be the leaders going forward

!https://www.leafscore.com/blog/the-9-most-sustainable-cryptocurrencies-for-2021/

problem is until we get 100% renewables, they are still creating a massive increase in total energy demand, the renewable supply may be diverted to these 'environmentally friendly crypto companies', but it just creates a gap elsewhere in the system. So in the now, they will likely be creating more emissions.

 

[FatCat]

problem is until we get 100% renewables, they are still creating a massive increase in total energy demand, the renewable supply may be diverted to these 'environmentally friendly crypto companies', but it just creates a gap elsewhere in the system. So in the now, they will likely be creating more emissions.

Yes agreed, the point I was making is these are probably the better ones out of a bad bunch!

 

[B-Man]