Use of clean energy in bitcoin mining and its impact - page 3.

gunhell16

hero member

Activity: 1666

Merit: 453

Quote from: Oshosondy on September 18, 2023, 08:01:03 AM

In 2019 report: Study: Over 74% of Bitcoin Mining is Powered by Renewable Energy
In 2020 report: Report: 76% crypto miners use renewables as part of their energy mix
2022 report: the Bitcoin mining network uses approximately 0.05% of the total energy consumed globally

Quote from: DVlog on September 18, 2023, 07:45:37 AM

Elon and Tesla were at the forefront of this criticism. Despite this, Tesla held bitcoin but sold it to the market later on. This news will have a positive impact throughout the industry, and companies like Tesla are likely to come to the market again as, as Elon previously mentioned, Tesla will accept bitcoin when miners reach the 50% clean energy mark. This will be a major boost for the bitcoin industry.

Bitcoin does not need Elon Musk. He should fuck off.

Elon Musk only manipulated for people to leave bitcoin for doge. That man will not accept bitcoin for anything, his mission is doge.

After he stopped payment for bitcoin, bitcoin still later increased and got to all-time-high.

It's true, and I agree with what you said, dude. Elon Musk has nothing to do with raising the price of Bitcoin. He can have a positive impact, but not to the point where Bitcoin will be 100k each. Then another strategy of Elon Musk so that he can get a huge profit is always targeting the meme coins. Even though those coins are still shit, he knows that the market value will kick in.

Although he also holds Bitcoins, it is not insignificant that he holds more Dogecoin and Shiba Inu for sure; we just don't know if he is also planning to promote meme coins that are currently sleeping giants in the market.

But anyway, let's see and wait for the step he will take in that matter.

STT

legendary

Activity: 4088

Merit: 1452

Even without this report I already thought it was obvious BTC is a positive, because it can work anywhere. Power under transmission actually suffers quite severe losses, the big point to the idea of green energy that stops it being a working proposal is the infrastructure to transmit that power from remote areas to cities does not really exist in bulk. It will take a decade maybe several to put in all the power infrastructure required to get power from hydro power turbines on dams all the way to cities.
Ideally they can do some work today but the excess and waste is something Bitcoin can use right now, ironically its a positive work is locally able to use up that power and monetize it into a transmittable bits of value usable & reusable across the world by those working digitally.
Its always been a positive of BTC, people couldn't see it. China threw out BTC because it opposes free currency outside communism, they don't want free competition like that and we shouldn't be surprised. China did benefit from BTC because just like USA or similar giant sized countries with epic mountain ranges, hydro power comes from vast remote areas not near the coastal city centres; theres a natural gap and BTC helps bridge this distance without requiring ten years of building they can do it today.

Helena Yu

hero member

Activity: 728

Merit: 633

When you want to talk about criticism toward Bitcoin, you need to deal with it by visiting this thread Knowledge to help you argue with bitcoin critics

Bitcoin mining do consume energy, but it's not big and they already use clean energy. Just close your eyes when institutional entity or someone that self pro claimed to be Bitcoin specialist talk about this particular thing.

They're trying to destroy Bitcoin, if they talk about mining consuming energy, money laundering, bubble/tulip mania, etc, they're uneducated people.

Sayeds56

copper member

Activity: 1316

Merit: 715

Eloncoin.org - Mars, here we come!

Quote from: Oshosondy on September 18, 2023, 08:01:03 AM

Bitcoin does not need Elon Musk. He should fuck off.

Elon Musk only manipulated for people to leave bitcoin for doge. That man will not accept bitcoin for anything, his mission is doge.

After he stopped payment for bitcoin, bitcoin still later increased and got to all-time-high.

I share the viewpoint that Elon Musk's involvement in crypto industry didn't make any substantial contribution for promotion and adoption of Bitcoin, instead, it seems he leveraged both popularity of Bitcoin and his own influential position to manipulate the price of Bitcoin for his personnel gains. However, the idea of using clean energy in Bitcoin mining is a promising development that aims to reduce the environmental impact of cryptocurrencies mining.

DVlog

full member

Activity: 504

Merit: 212

Quote from: Oshosondy on September 18, 2023, 08:01:03 AM

Bitcoin does not need Elon Musk. He should fuck off.

Elon Musk only manipulated for people to leave bitcoin for doge. That man will not accept bitcoin for anything, his mission is doge.

After he stopped payment for bitcoin, bitcoin still later increased and got to all-time-high.

What about Tesla? I do not like Elon because of his unpredictable nature, and he has made positive and negative statements in the past about bitcoin. I do not like any meme projects as well, but a car company like Tesla can be at the forefront of the bitcoin market in the future. They have a large user base and resources to accept bitcoin for their online payments.

Oshosondy

legendary

Activity: 1624

Merit: 1200

Gamble responsibly

In 2019 report: Study: Over 74% of Bitcoin Mining is Powered by Renewable Energy
In 2020 report: Report: 76% crypto miners use renewables as part of their energy mix
2022 report: the Bitcoin mining network uses approximately 0.05% of the total energy consumed globally

Quote from: DVlog on September 18, 2023, 07:45:37 AM

Elon and Tesla were at the forefront of this criticism. Despite this, Tesla held bitcoin but sold it to the market later on. This news will have a positive impact throughout the industry, and companies like Tesla are likely to come to the market again as, as Elon previously mentioned, Tesla will accept bitcoin when miners reach the 50% clean energy mark. This will be a major boost for the bitcoin industry.

Bitcoin does not need Elon Musk. He should fuck off.

Elon Musk only manipulated for people to leave bitcoin for doge. That man will not accept bitcoin for anything, his mission is doge.

After he stopped payment for bitcoin, bitcoin still later increased and got to all-time-high.

DVlog

full member

Activity: 504

Merit: 212

Quote

Bitcoin Mining and Clean Energy: Bloomberg Intelligence reported Bitcoin miners now meet the 50% clean energy threshold. Jamie Coutts shared the latest on X (formerly Twitter), saying, “The Bitcoin energy narrative is flipping! A new note out this morning on the Bloomberg Terminal looks at the rapid rise of sustainable energy sources in BTC mining.” In 2021, Elon Musk announced that Tesla (TLSA) would resume accepting BTC when miners reach the 50% clean energy threshold.

Genesis Ceases Crypto Trading Services: On Thursday, news hit the wires of Genesis halting crypto trading services permanently. Genesis previously announced the end of spot trading by September 30. Derivatives trading services will cease immediately.

SEC v Stoner Cats 2 Draws Condemnation: Stoner Cats 2 LLC became the latest victim of the SEC onslaught on the US digital asset space. The SEC announced charges against Stoner Cats 2 LLC for conducting an unregistered offering of crypto asset securities in the form of NFTs that raised $8 million to fund Stoner Cats, an animated web series. Ripple CLO Stuart Alderoty called out the SEC move. SEC Commissioners Hester Peirce and Mark Uyeda dissented.

Deutsche Bank Enters the Crypto Space in Earnest: German banking giant Deutsche Bank (DB) and Taurus SA announced a partnership to offer crypto and tokenized asset custody services to institutional clients. Deutsche Bank Global Head of Securities Services Paul Maley reportedly said, “As the digital asset space is expected to encompass trillions of dollars of assets, it’s bound to be seen as one of the priorities for investors and corporations alike.

Source: https://www.nasdaq.com/articles/crypto-news:-clean-energy-bitcoin-mining-threshold-puts-elon-musk-and-tesla-in-focus

One of the biggest criticisms of bitcoin was its carbon emissions and its environmental impact. Elon and Tesla were at the forefront of this criticism. Despite this, Tesla held bitcoin but sold it to the market later on. This news will have a positive impact throughout the industry, and companies like Tesla are likely to come to the market again as, as Elon previously mentioned, Tesla will accept bitcoin when miners reach the 50% clean energy mark. This will be a major boost for the bitcoin industry.

Institutional investors are mostly concerned about the environmental impact of bitcoin mining. This opens a path for institutional investors to come onboard.

Topic: Use of clean energy in bitcoin mining and its impact - page 3. (Read 380 times)