bitcoin

[west country boy]

Originally Posted by Neil 154

I'm not zealous...

Not zealous?! You're the bleedin' Jim Jones of this thread.

[Neil 154]

Originally Posted by Webb

Look beyond the hype and actually read what you are sending. Takes a matter of seconds to debunk. The Bitcoin Mining Council's data, by its own admission, is only from 50% of the global network and is an estimate. Has this data been independently confirmed? What about the other 50%? Rhetorical question as there is no regulation of course.

Thanks for the other information. I'm genuinely interested in what you are saying, but i just cant see the logic. I'm not trying to have a pop, but I can't get my head around the cult like status btc has, or those who blindly follow figures involved like Saylor, who is essentially gambling away a company (that employs over 2000 people), regardless of reality.

Admittedly a lot of Bitcoin advocates do come across as cultish. There's a strong counter-culture aspect to Bitcoin scene but the posturing is ironic most of the time. You have to take it with a pinch of salt.

The Bitcoin Mining Council was set up by bitcoin advocates that want a counter narrative to the criticism of bitcoin as harmful to the environment. Your argument that the data is incomplete is also true for any statistics about mining industry. In China miners face up to 10 years in prison and a hefty fine so they are hardly going to volunteer data to any research group. The Bitcoin Mining Council are trying to do the best they can from the available data and at least they are up-front about the difficulties.

[Spindle]

Originally Posted by Neil 154

Netflix is down 59% YTD
Facebook is down 48% YTD

But Bitcoin is dead… apparently

Very good reasons for both. And both still have dividends and a PE ratio. What's the PE ratio and dividend for BTC?

[Spindle]

Originally Posted by Neil 154

He explains Bitcoin innovation well up to the point about scaling. However he doesn't take into account that using second layer solutions i.e Lightning Network, Bitcoin can easily scale up to transactions speeds of legacy transaction operators such as Visa. Then of course he goes on to criticise the bitcoin energy use which is complete bollocks when you consider the usefulness of bitcoin. In any case Bitcoin's energy consumption is increasingly green - utilising power from renewables when there's a lack of demand from other consumers. This is proving to incentivise the build-out of new renewable energy which is a net-benefit for the environment.

Bitcoin is green? Oh shut up

[Spindle]

Originally Posted by adrenalin john

I still understand a single digital coin could work and be more effecient than traditional currency and payment systems. I don't however see the case for more than one such currency

I already get paid digitally, I buy everything electronically online or physically, and I occasionally use cash.

It's just not needed.

[Spindle]

Originally Posted by Webb

Is that the best you can do? That's a picture of a guy in a digger, from a company with a handful of followers, who aren't operational by the look, where the only reply is from themselves correcting a typo, not at all verified evidence. Oh well. I know what biomass is, thanks.

Even if legit, what percentage of overall energy use for bitcoin or crypto is currently from renewables?

If crypto were a country it would rank 8th in the world for CO2 emissions.

Neil is full of shit. Fancy considering crypto green because they burn flared methane - Jesus wept. Neil you know nothing about the impact of methane compared to CO2.

[Blind_Eagle]

Originally Posted by Spindle

If crypto were a country it would rank 8th in the world for CO2 emissions.

Neil is full of shit. Fancy considering crypto green because they burn flared methane - Jesus wept. Neil you know nothing about the impact of methane compared to CO2.

Point of order, flaring methane is marginally less bad for the environment than venting.

[bigend1]

Originally Posted by Spindle

I already get paid digitally, I buy everything electronically online or physically, and I occasionally use cash.

It's just not needed.

Btc is not the answer but change is needed.

The financial system uses a gargantuan fu(k tonne of energy!!

Blockchain is currently part of the most likely solution to that. Keep an eye on Nano (XNO). If that gains traction it could change the entire banking system.

Not investment advice btw. I personally suspect something else will come along before this happens. My point is highlighting the fact that much more sustainable technology is here and the current system is also a savage drain on energy.

[Neil 154]

Originally Posted by bigend1

Btc is not the answer but change is needed.

The financial system uses a gargantuan fu(k tonne of energy!!

Blockchain is currently part of the most likely solution to that. Keep an eye on Nano (XNO). If that gains traction it could change the entire banking system.

Not investment advice btw. I personally suspect something else will come along before this happens. My point is highlighting the fact that much more sustainable technology is here and the current system is also a savage drain on energy.

Anyone that advocates Nano - a so called payment solution that has ZERO ADOPTION for payments and suffered a crippling denial of service attack last year - is obviously ignorant. Look instead at Lightning Network a payment solution using Bitcoin that is practically feeless and has ACTUAL adoption by every major retailer in El Salvador including MacDonalds and Starbucks. To view the link you have to Register or Login Bitcoin is winning on so many levels.

[bigend1]

Originally Posted by Neil 154

Anyone that advocates Nano - a so called payment solution that has ZERO ADOPTION for payments and suffered a crippling denial of service attack last year - is obviously ignorant. Look instead at Lightning Network a payment solution using Bitcoin that is practically feeless and has ACTUAL adoption by every major retailer in El Salvador including MacDonalds and Starbucks. To view the link you have to Register or Login Bitcoin is winning on so many levels.

I'm not pumping Nano mr chemical Ali of Bitcoin!

The point is the technology exists. That attack you mention was thought to be from those heavily invested in btc seeing nano as a threat - it makes nano look better, not worse and has expedited the development to making it unstoppable by spamming lol!!

In terms of adoption no. Not much. That's why I said this isn't investment advice as I think something will likely surpass it or fork from it. Buying nano is like a lottery ticket, not an investment. The point however is efficient, working, secure, feeless, instant and pretty much unlimited scalability is now here.

The financial sector is a behemoth of energy consumption and the solution is now possible.

Nano or A N Other is a real world chance to change for the better. Not btc. If that survives its as a store of value. Not a practical currency

[Spindle]

Originally Posted by Blind_Eagle

Point of order, flaring methane is marginally less bad for the environment than venting.

Point of order, you have failed to specify time into the equation. Methane is destroyed within 12 years and CO2 lasts for hundreds of thousands of years

Nevertheless, to suggest that crypto powered by mineral methane is "green" is an outright lie, or massive ignorance.

[Neil 154]

Originally Posted by bigend1

I'm not pumping Nano mr chemical Ali of Bitcoin!

The point is the technology exists. That attack you mention was thought to be from those heavily invested in btc seeing nano as a threat - it makes nano look better, not worse and has expedited the development to making it unstoppable by spamming lol!!

In terms of adoption no. Not much. That's why I said this isn't investment advice as I think something will likely surpass it or fork from it. Buying nano is like a lottery ticket, not an investment. The point however is efficient, working, secure, feeless, instant and pretty much unlimited scalability is now here.

The financial sector is a behemoth of energy consumption and the solution is now possible.

Nano or A N Other is a real world chance to change for the better. Not btc. If that survives its as a store of value. Not a practical currency

Nano has been around for six years and has ZERO adoption. SIX YEARS! Its USP is as a payment system and the public simply don't care. Bitcoin on the other hand has adoption. Blackrock the largest investment management company in the world with over 9 trillion dollars in assets is NOT buying Nano and never will. Guess which asset Blackrock announced they will get exposure to this week?

[bigend1]

Originally Posted by Neil 154

Nano has been around for six years and has ZERO adoption. SIX YEARS! Its USP is as a payment system and the public simply don't care. Bitcoin on the other hand has adoption. Blackrock the largest investment management company in the world with over 9 trillion dollars in assets is NOT buying Nano and never will. Guess which asset Blackrock announced they will get exposure to this week?

Chill Winston!!

I'm not pumping nano. I'm talking about what is possible not how much it is worth. Btc has the name. Fine, calm yourself.

The technology is not worth comparing however. The context of this is environmental. Even your rose tinted super specs can't make you think btc comes close to being as efficient. Nano (or others) are far more sustainable than both btc and the current global financial system.

A few people on a palace site makes no difference to nano. It gets picked up and rockets or it doesn't. I dont have any interest in pumping my lotto ticket here. I'm talking avout the technology and the environment. Take a break

[Neil 154]

Originally Posted by bigend1

Chill Winston!!

I'm not pumping nano. I'm talking about what is possible not how much it is worth. Btc has the name. Fine, calm yourself.

The technology is not worth comparing however. The context of this is environmental. Even your rose tinted super specs can't make you think btc comes close to being as efficient. Nano (or others) are far more sustainable than both btc and the current global financial system.

A few people on a palace site makes no difference to nano. It gets picked up and rockets or it doesn't. I dont have any interest in pumping my lotto ticket here. I'm talking avout the technology and the environment. Take a break

If you're a refugee fleeing Ukraine or a Venezuelan excluded from the banking network the priority sadly is not the environment, it's economic survival. Bitcoin offers a solution and it's being used. The only other use case for crypto currencies apart from Bitcoin are with stable coins such as USDC. Stable coins will soon be available on Bitcoin using the Lightning Network.

[Spindle]

Fanbois

[west country boy]

F~cking hell. Bitcoin is now the saviour for displaced people around the world? If they can't access actual money or banking then I'm not sure how they'll be able to use BTC. Their traffickers/slavemasters on the other hand...

[Reps AJ]

In the middle of rampant energy price increases I'm pleased that someone is making the case that it's ok to waste the equivalent of a large country's energy consumption on mining bitcoin because some of it is renewable.

[hong_kong_hg]

Originally Posted by west country boy

F~cking hell. Bitcoin is now the saviour for displaced people around the world? If they can't access actual money or banking then I'm not sure how they'll be able to use BTC. Their traffickers/slavemasters on the other hand...

Bitcoin is a decentralised cult, where the cultists will believe whatever steaming pile of excrement (environmentally friendly excrement, needless to say) they are fed, as Neil oozing it out of both sides of his mouth helpfully demonstrates for us.