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(Guardian)   Elon Musk says Tesla will begin accepting vaporcoin when it starts using more clean energy   (theguardian.com) divider line
    More: Followup, Renewable energy, bitcoin transactions, Wind power, Elon Musk, World energy resources and consumption, Sustainable energy, Mining, renewable energy  
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266 clicks; posted to Business » on 14 Jun 2021 at 1:50 AM (7 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



29 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2021-06-13 10:21:14 PM  
I only use Bitcoin mined in Iceland, using geothermal power and ambient cold air for cooling.
 
2021-06-13 10:52:55 PM  

foo monkey: I only use Bitcoin mined in Iceland, using geothermal power and ambient cold air for cooling.


My Bitcoin is sustainably harvested from heritage cattle breeds by certified fair trade workers.
 
2021-06-13 11:06:39 PM  
I make my bitcoin by hand, the old fashioned way.
 
2021-06-14 12:25:47 AM  
I actually own 0.00000134835 as I cultured a single Satoshi in a petri dish I had neglected and left underneath an overheated CPU processor. Don't ask. Just wow. Much amaze.
 
2021-06-14 12:37:32 AM  
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2021-06-14 1:55:01 AM  

bloobeary: I make my bitcoin by hand, the old fashioned way.


I just solve the equation to unlock one by hand using a pen and paper. Don't even use a calculator.
 
2021-06-14 2:35:07 AM  
"When there's confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing bitcoin transactions," Musk, the company's CEO, said in a tweet on Sunday.

This would happen overnight if China banned crypto mining as they are rumored to be planning. Virtually everywhere else in the world crypto mining gravitates around cheaper hydro and geothermal power.
 
2021-06-14 3:05:23 AM  

neaorin: "When there's confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing bitcoin transactions," Musk, the company's CEO, said in a tweet on Sunday.

This would happen overnight if China banned crypto mining as they are rumored to be planning. Virtually everywhere else in the world crypto mining gravitates around cheaper hydro and geothermal power.


Many of those "clean" applications are still wasteful. Even if the local grid is 100% hydroelectric, more power consumption = more water drained from the reservoir. Sometimes that's OK (if the dam is overflowing or if it needs to maintain a minimum rate of flow to keep fish happy downstream) but not if you're facing any chance of a drought in the coming months.
 
2021-06-14 5:50:11 AM  
Oh good. I see he's switched back to pump mode.
 
2021-06-14 7:06:17 AM  
"computers have to solve harder and harder algorithms in order to get bitcoin. "

Its the same algorithm.   Just a smaller reward
 
2021-06-14 7:20:08 AM  

Nullav: Oh good. I see he's switched back to pump mode.


Is he pumping or dumping here though?
 
2021-06-14 7:44:35 AM  
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2021-06-14 8:42:22 AM  
i wondered why BTC was going up.

Fark user imageView Full Size


Crypto trader reacting to Elon Musk's comments
 
2021-06-14 8:44:45 AM  
CRYPTO!
 
2021-06-14 8:45:32 AM  

Vlad_the_Inaner: "computers have to solve harder and harder algorithms in order to get bitcoin. "

Its the same algorithm.   Just a smaller reward


This is correct. The difficulty increases based on how many miners are competing for each block, not depending on how many coins have been issued to date.
 
2021-06-14 9:59:34 AM  
Clean Coal, Crypto Edition.
 
2021-06-14 10:00:45 AM  
Elon Musk is pulling your pud.
 
2021-06-14 10:01:44 AM  
Speaking of weird Elon things on Twitter today:

Fark user imageView Full Size
 
2021-06-14 10:03:54 AM  

I want that sauce Morty!: bloobeary: I make my bitcoin by hand, the old fashioned way.

I just solve the equation to unlock one by hand using a pen and paper. Don't even use a calculator.


I have a room full of African American women who calculate my hashes, Hidden Figures style.
 
2021-06-14 10:08:48 AM  
Every Old on Fark was like "I don't understand Crypto!  I'm old and my butt smells!"

My brother in law invested in Crypto and now he's a MILLIONAIRE!  He lives in a gold house and drives a rocket car.  You don't because you're stupid.  CRYPTO!
 
2021-06-14 10:15:14 AM  

Rapmaster2000: Every Old on Fark was like "I don't understand Crypto!  I'm old and my butt smells!"

My brother in law invested in Crypto and now he's a MILLIONAIRE!  He lives in a gold house and drives a rocket car.  You don't because you're stupid.  CRYPTO!


Well, you took care of it for me so...
 
2021-06-14 10:53:46 AM  
Vaporcoin for a vaporware huckster. All the disappointed Plaid customers are getting their deposits back after a 30% Bitcoin crash. Elon should be locked up
 
2021-06-14 11:31:53 AM  
I called this a month ago when he turned on bitcoin.

Elon got his wrist slapped when he manipulated stock markets, so he turned to unregulated crypto.  Buy, pump the price, sell, crash the price, buy more and pump again.

He set the bar pretty low at 50% clean energy, since its generally accepted that bitcoin is already > 75% clean. Tesla will begin taking bitcoin again by the next earnings call.  China has recently closed down a bunch of coal based miners (and left the hydro ones alone for now), so its probably over 80%.

Hopefully after this, the traders of bitcoin will start ignoring what Musk has to say since his manipulation is pretty blatant.

He's pissed off the crypto community.  There are a ton of reasonably wealthy bitcoin owners who will never buy a Tesla.
 
2021-06-14 11:42:22 AM  
Doge'd that bullet.
 
2021-06-14 12:13:56 PM  
Stop the farking bullshiat about any of this crypto garbage being environmentally friendly.  I don't give a shiat if 100% of them are buying their electricity from a clean energy source.

A waste of energy is a waste of energy, and for every single joule that gets wasted on this bullshiat, that's one joule that wasn't used for something productive.

The human race has a certain demand for energy, every second of every day, and if the solar panels are all being used to guess a number so that greedy morons can play with monopoly money, then the coal plant will have to pick up the slack to cook dinner.

Not to mention the ENORMOUS potential of useful computing power being flushed down the toilet.  Think protein folding.  All those farking GPUs being used to solve no problem and add no value to humanity whatsoever.
 
2021-06-14 12:19:48 PM  

Shostie: foo monkey: I only use Bitcoin mined in Iceland, using geothermal power and ambient cold air for cooling.

My Bitcoin is sustainably harvested from heritage cattle breeds by certified fair trade workers.


My bitcoin is mined in Heaven's data centers and delivered by Christ himself on tiny red winged pillows.
 
2021-06-14 12:31:30 PM  

mudesi: Stop the farking bullshiat about any of this crypto garbage being environmentally friendly.  I don't give a shiat if 100% of them are buying their electricity from a clean energy source.

A waste of energy is a waste of energy, and for every single joule that gets wasted on this bullshiat, that's one joule that wasn't used for something productive.

The human race has a certain demand for energy, every second of every day, and if the solar panels are all being used to guess a number so that greedy morons can play with monopoly money, then the coal plant will have to pick up the slack to cook dinner.

Not to mention the ENORMOUS potential of useful computing power being flushed down the toilet.  Think protein folding.  All those farking GPUs being used to solve no problem and add no value to humanity whatsoever.


You miss the part where crypto can drive renewables to be built.

For example, a new wind farm is built.  During the day, it provides energy for the local community.  During the night, when demand is lower, it also powers a crypto farm.  The money made from that subsidizes the wind farm construction and power for the community.

This is the model that many new installations are using.
 
2021-06-14 4:52:56 PM  

Rapmaster2000: CRYPTO!


Current price for one Bitcoin = THIRTY NINE THOUSAND, SIX HUNDRED and FOURTY THREE
 
2021-06-14 7:18:25 PM  

Rapmaster2000: Every Old on Fark was like "I don't understand Crypto!  I'm old and my butt smells!"

My brother in law invested in Crypto and now he's a MILLIONAIRE!  He lives in a gold house and drives a rocket car.  You don't because you're stupid.  CRYPTO!


This is the way!!!
 
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