re: Official CryptoTalk Thread

Just bought more Etherium on the dip, and Coinbase threw it in ETH, rather than my staked ETH2. Guess my ETH is good for the Pulse match?

quote:

---

I’m a little confused on the relation pulsechain has to hex.

---

Same

quote:

---

Does Elon also realize that the Bitcoin network will validate blocks whether or not Tesla is engaging in Bitcoin transactions? It’s not like the network is using additional energy as a result of Tesla receiving Bitcoin...

---

its pretty brilliant of him, pump BTC with adoption of it for payment. then shite on it to catalyze a market dip, in a way he has a future pump when he decides its eco-friendly enough to accept as payment again

Renewables plus “stranded energy” that wouldn’t otherwise be used or connected to a grid like flare gases and geothermal vents in remote areas do make up a very large portion of the energy used by the Bitcoin network because people are incentivized to find the cheapest energy possible that is also politically welcome and oftentimes this is renewable energy or waste energy.

I’ve seen 70% flouted but I honestly don’t recall the number. Some studies have been published on this in recent months so it should be an easy thing to check

quote:

---

better tech

---

Sorry, "better" was probably not the most appropriate word choice there. I typed up the post quickly on my phone. There are tradeoffs with all of the different protocols as is the case with all engineered systems.

I'm sure the regulars know know about the "scalability trilemma" and the concept that all protocols are designed around the idea that among security, decentralization and scalability you generally have to sacrifice one to optimize the other two attributes. The "holy grail" would be a protocol that could offer all three, if it is even possible. For consensus though, the basic idea is to utilize or spend some scarce resource within the system to secure the network. Tokens and/or network availability for PoS and hash power for PoW.

BTC trades scalability for security and decentralization. However with PoW, it would seem that the rise of ASICs and power cost differentials have defeated the theoretical decentralization aspect to some degree. That is arguable of course.

The so called "next gen" protocols are almost all PoS or some hybrid form of PoS. Theoretically, they trade off security to allow for high throughput and arguably better decentralization. How much security is sacrificed is arguable. The game becomes engineering better security into the system by incentives. The nature of "decentralized" also becomes arguable as some PoS systems tends to lead to a rich get richer scenario.

Without doubt, the PoS and hybrid systems offer order of magnitude better energy efficiency over PoW. That is by design. Perhaps both will be needed to satisfy different niches. The market will sort it out.

Fund managers, public companies and the like are all dealing with government ESG mandates being forced down their throats. Having pure PoW coins in your portfolios or on the balance sheet will put you in the "shame" category. I'm not arguing that I agree with ESG. Just saying how it appears to be going down from my perspective. The "energy hog" narrative of BTC was low hanging fruit in todays political environment.

eta: Everyone should know by now that a narrative does not necessarily have to be true for government and/or media to run with it if is suits governments greater aims. :tin foil hat:

nah. Narrative will flip. More energy is consumed watching TV around the world than mining crypto. The great thing about Crypto is it self regulates. Truth will eventually win out in this space.

quote:

---

Is BTC really run on 75% renewabke energy? I have a hard time believing that and I support the system.

---

I saw Pomp tweeted that figure last night. I will have to go see if he showed his work.

quote:

---

My bull shite detector has a really hard time with that 75% renewable number.

---

It should be "75% use "some form" of renewable energy".
i.e. they could use 1% and be counted in that 75%

guess he couldn't fit those extra words in the tweet?

I’m curious to see in a few days what we have learned from this. I think strategies may change. Will see

Better tweet I saw was Elon can be forgiven by the crypto community, but once you cross the left, its career suicide.


Either way, hes a cancer to the investment space, because he can afford to be. He has crashed Tesla and he has crashed crypto and there are never any consequences for him