So.... which crypto is the best combination of cleanest and most widely used?
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Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable
- Thread starter AudubonB
- Start date
The most energy efficient and feeless it seems to be IOTA.
corduroy
Active Member
I love a broad panic sell-off when there's an over-reaction to some news. There hasn't been a sale like this since March of last year. Fortunately, I sold half my AAPL after the recent (mild) recovery and had powder to even out my TLSA to the even hundreds to sell more covered calls. Still have some left over for bargain shopping.
That's a pretty power move right there by Elon.
hbr.org
"According to the Cambridge Center for Alternative Finance (CCAF), Bitcoin currently consumes around 110 Terawatt Hours per year — 0.55% of global electricity production, or roughly equivalent to the annual energy draw of small countries like Malaysia or Sweden."
How Much Energy Does Bitcoin Actually Consume?
Today, Bitcoin consumes as much energy as a small country. This certainly sounds alarming — but the reality is a little more complicated. The author discusses several common misconceptions surrounding the Bitcoin sustainability debate, and ultimately argues that it’s up to the crypto community...
hbr.org
"According to the Cambridge Center for Alternative Finance (CCAF), Bitcoin currently consumes around 110 Terawatt Hours per year — 0.55% of global electricity production, or roughly equivalent to the annual energy draw of small countries like Malaysia or Sweden."
Sanity prevails!
BTC is a horrible waste of electricity and there was much digital ink spilled here arguing the subject. I'm glad Elon's love of Crypto has eventually succumbed to his logical brain that realised how counter to the Tesla mission the mining of BTC is.
BTC is a horrible waste of electricity and there was much digital ink spilled here arguing the subject. I'm glad Elon's love of Crypto has eventually succumbed to his logical brain that realised how counter to the Tesla mission the mining of BTC is.
powertoold
Active Member
It's great. Elon hypes up Bitcoin, gets everyone's attention, and then tells everyone that it's bad for the environment. lol
Sucks for our Bitcoin holdings though
Sucks for our Bitcoin holdings though
Yeah problem with "looking for currency that uses 1% of btc" is that whatever you pick will be massively mined as a result.
So pardon my ignorance on this topic, but isn't Etherium moving to proof of stake? Wouldn't that lower the energy usage and make it cheaper and faster all around?
BrownOuttaSpec
Active Member
What a great day for someone with diamond hands! Huge after-hours sale on chairs and Tesla dumping BTC! I think crypto has a place in the future but for now its is just a pyramid scheme that waste tons of resources.
Would I like to see the $TSLA @ $1,000+? Of course! (90% of my portfolio), but we'll get there soon enough in the near future (2022-2023).
Would I like to see the $TSLA @ $1,000+? Of course! (90% of my portfolio), but we'll get there soon enough in the near future (2022-2023).
This is off topic, but I feel like we may discover in 1 year that its not. If Tesla divests from Bitcoin now and invests or develops a more efficient crypto it may very well become on topic. For the time being proof of stake - rather than the much more computationally expensive proof of work - cryptos that were developed by peer reviewed research like Cardano rather than launched by individuals like bitcoin and etherium make sense to me. But to me this seems like it may indicate Tesla may have devoted some of its considerable brainpower to pioneering something on their own, which would be exciting.
Krugerrand
Meow
I agree with him and said so weeks ago, nay I believe months ago.
Xepa777
Member
Yah I can see Tesla moving to Ethereum as they're transitioning to POS. Maybe Tesla waits until Eth 2.0.
And notice Tesla never said anything about halting the purchase of bitcoin, just the use of it for transactions.
I can see Tesla buying more Bitcoin from dedicated renewable energy miners.
Only Elon specifically said that they weren't selling any BTC.
Now we don't just need TSLA to go up for making actual money, we also need it to go up in order to outrun inflation. If a hamburger is going to cost $1 million, I'll need about $1 trillion to maintain my current lifestyle!
agastya
Member
There's been too much work Tesla has done behind the scenes to just leave the crypto space. Karpathy has been spending some time in this as well.
I wouldn't be surprised if they launch their own sometime down the line, it's not like they lack decentralized sources of energy and computing power
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