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Tesla withdraws accepting BTC on unsustainable energy consumption grounds

Discussion in 'Blockchain & Cryptocurrency Mining' started by Sphinx, May 13, 2021.

  1. Mac-Pro

    Mac-Pro Member

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    Miners are always looking to reduce electrical costs and day by day, more and more miners are onboarding green energy.

    The problem isn't energy consumption, it it was people wouldn't be watching Netflix and wasting energy. It's hypocritical to focus on crypto currency energy usage and not looking at others. How much do banks, stock markets, and other financial institutions use? How much does Facebook use?
     
  2. cvidler

    cvidler Member

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    Telsa/SpaceX need to clean up a lot before I trust the word of Elon on environmental issues. He's just using/abusing his power to make a buck. wouldn't surprise me if there was a buy order waiting on that tweet to go out.

    launching a car into space is 100% environmentally friendly and not a waste of resources at all. lol
     
  3. Copie

    Copie Member

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    That launch was always going to happen, as it was the final test flight before being approved. He dumped his car in there as publicity/payload testing, so not a waste of resources.
     
  4. i_trin

    i_trin Member

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    Comparatively Tesla and spacex are much better for the environment than previous options. Cars are electric and they recycle rockets.
     
    Sphinx and whatdoesthisdo like this.
  5. OP
    OP
    Sphinx

    Sphinx Member

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    Remarks like this already explains Tesla's decision. There is probably growing pressure for all tech companies to be more sustainable and promote sustainability. I doubt the decision was solely Elon's.
    Others will probably join them in not accepting the worst offending currencies for mining. I'm all for crypto, but mining is out of control.
     
    Last edited: May 13, 2021
  6. cvidler

    cvidler Member

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    could've launched something useful, I'm sure there's many scientists/academics that like a free launch into orbit. it was 100% publicity, and wasteful. and now there's a big hunk of junk floating around space, that may never be seen again, or it may return and cause trouble.

    electric cars that in most of the world are charged from fossil fuels, are full of conflict metals, cost a lot of resources to build (aluminium smelting for example).

    look I'm not saying Telsa/SpaceX are the worst company out there, but they're not squeaky clean either, certainly not enough to point the finger at others.
     
  7. adamsleath

    adamsleath Member

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    some numbers:

    [​IMG]

    https://everydayastronaut.com/rocket-pollution/

    ev's are the shizzle.

    nothing light about rockets though.
     
    Last edited: May 13, 2021
  8. OP
    OP
    Sphinx

    Sphinx Member

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    Eh, attacking an electric car company about the decisions of a space company or vice versa - is pretty silly.
    The two function completely independently in entirely different industries.
     
    Last edited: May 13, 2021
  9. i_trin

    i_trin Member

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    I disagree. They are much cleaner than ice vehicles. Even taking into account your points. and the rocket launch with the car was to test cargo carrying capacity and deployment. Which is being used now to send astronauts to space. Car as a piece of junk, well they had to launch something.
     
  10. whatdoesthisdo

    whatdoesthisdo Member

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    Shit he's tweeting again, prepare your stop losses.

    upload_2021-5-13_20-6-27.png
     
  11. Slug69

    Slug69 Member

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    Its only a matter of time before he says the magic word "Chia" and Nirvana will be achieved.

    He's probably already purchased a couple million coins.
     
    whatdoesthisdo likes this.
  12. Mac-Pro

    Mac-Pro Member

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    Elon musk is a crypto noob.Michael Saylor has done a tonne more research. They're probably buying more bitcoins from the weak hands
     
  13. OP
    OP
    Sphinx

    Sphinx Member

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    Capped crypto isn't a transaction crypto, they are for investment. Why buy a Tesla with BTC when you can hold it with diamond hands?

    I think Elon is realising this with all the Dogecoin talk, which is an un-capped low-fee crypto which would be more suitable for decentralised transactions for goods or services.
     
    Last edited: May 14, 2021
  14. r3s

    r3s Member

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    Something something ADA! :p
     
  15. adamsleath

    adamsleath Member

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    beware the messiah of crytpo sentiments.
     
  16. illdrift

    illdrift Member

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    Might be something to do with all those carbon offsets they get paid on each vehicle sold, only to be doing the complete opposite when someone pays with btc and a huge amount of C02 is correlated with that mining transaction.

    In any case, seems inevitible the public will eventually backlash against businesses who support POW crypto
     
  17. whatdoesthisdo

    whatdoesthisdo Member

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    Ohhhh deep.
    upload_2021-5-14_10-8-54.png

    Twitter is going mental, with one guy even threatening to burn down his dealerships. Not sure if it was a joke or he doesn't realise Tesla has no dealerships
     
  18. MrSnuffy

    MrSnuffy Member

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    Probably.... Though it is often not explained (or TLDR) .... That bitcoin protocol is capable to scaling to virtually unlimited transaction/computation capacity .... using not necessarily more energy than BTC does today.

    So such a protocol could actually develop into the most _efficient_ way to do a public distributed system.


    The hash puzzle component of finding blocks... only need to be complex enough to make successful attacks impractical. It is currently orders of magnitude larger than it needs to be to do that.
     
  19. sTeeLzor

    sTeeLzor Member

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    The difference being most energy is being useful. Bitcoin is the opposite of useful.
     
  20. MrSnuffy

    MrSnuffy Member

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    Even if it's not for idealogical reasons..... If the transaction model is inefficient (ie. super low transaction capacity, coupled with super high fees) then it's going to get outcompeted in a free market, eventually.... simply on the basis of cost to provide service. Number go up, needs to remain a powerful meme.
     
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