Bitcoin mining will never be fully emission-free, but it will reduce global CO2 emissions caused by the modern fiat standard and many other energy-intense businesses. 10/10
The central banking is very polluting; the banking infrastructure causes a lot more CO2 than Bitcoin does, but also the fiat money enables and is backed by armies. It might very well be that Bitcoin will never cause more CO2 emissions than the US army alone causes now. 9/10
3) Governments, like that of Iran, subsidy fossil fuel consumption which makes mining using oil very cheap. 4) Bitcoin is still very young. - Give it a few decades, and all these will be fixed. 8/10
Why hasn't this happened yet? 1) It IS happening and Bitcoin is nowadays mostly mined on renewable sources. 2) Bitcoin's value has yet to stabilize (which will happen when Bitcoin has taken over the world) and bullruns make mining Bitcoin on expensive sources profitable. 7/10
Actually, Bitcoin mining will help the fight against the global warming. Bitcoin miners will build infrastructure to produce and consume such yet-unharvested energy and, eventually, it will attract other consumption to move there which decreases global CO2 emissions. 6/10
There's an additional beauty in Bitcoin mining - the Bitcoin mining rigs don't need to be close to populated areas unlike factories or most data centers do. This enables mining in places where people don't live, like in the middle of the Atlantic or in the space. 5/10
Bitcoin is the game changer. Bitcoin mining will always keep finding cheaper and cheaper energy sources. Eventually, it will find its way to the sources that are yet to be harvested - like the oceans, Sahara, Earth's core, space. 4/10
This leads to the need of having to consume fossil fuels, uranium and unproductive renewables. They all cause relatively high emissions. There's a more important side note the FUDsters miss: the supply-and-demand dictates such consumption will always be relatively expensive.3/10
Simply put, people don't live in places where most energy could be produced. There's nearly an infinite amount of unharvested, emission-free energy to be produced and consumed but that isn't being done because people don't live there; Sahara, oceans, Earth's core, and space. 2/10
#Bitcoin's energy consumption FUD is baseless. There's no issue with energy consumption in the world; the consumption itself isn't the cause of CO2 emissions. Rather, the issue is with asymmetric and uneven energy consumption v. production. THREAD 1/10
If you survived this bear market, congratulations. You're an OG now.
I survived the bitcoin bear market of Jan. 11, 2021.
It's easy to lose your mind in the modern world. While growing up, I've lost faith in media, democracy, justice, fairness, law, governments, education, science, fiat money, and even the virtue of the people; I became an empty shell which I'd still be if it wasn't for #Bitcoin.
Nocoiners are inclined to be cautious on #Bitcoin because it simply sounds too good to be true. I was there once myself; at $100 per BTC I pondered that one BTC can really be worth millions one day (and fiat gone). Then I convinced myself that no way a student like me could have discovered so early such ground-breaking revolution; it must be too good to be true.
The strongest FUD is simply that it sounds too good to be true.
If I told you few years ago that in 2021 this corrupt convicted criminal will want to have full control and monitoring over your banking accounts - and is allowed to do so -, would you had believed me?
Welcome to 2021 (will be worse than 2020).
NYT is ofcourse a major fake news but promoting scammers is on completely another level.
Bitcoin maximalist. Central planning, sugar and alcohol minimalist.
Bitcoin Maston Instance