Tesla and BTC...Match made in (spotted-owl) heaven?

tsgiannis said:
About power consumption requirements for mining bitcoin and mining gold
There is a key difference and it makes me laugh that so easily slips from people's mind
Gold mining : it should have some pretty hefty consumption along with environmental damage but once mined it doesn't require anything ...it could be stored just about everywhere with any overseeing...as for the damage...is considered managed...above all it is something of real existence...you can see it,hold it,touch it,bite it,melt it...it's there...and even if is no power or the price collapses for any reason....its entity is preserved.
Sidenote : Gold besides the "money" representation it carries it is a metal and a lot of things wouldn't be possible without it..quick example , a lot of contacts like DRAM sticks carry gold in order to avoid corrosion...probably without it we would have to replace drams every few months
Crypto mining : it has a pretty heavy consumption and is growing...the problem is even if it gets "mined" it still requires power to keeps its existance...without power it simply doesn't exist.
Its "existence" is only as long it has a price ...if not is pure void - vaccum , you can't see it,touch it or whatever ....it justs lives in the circuits of some computers.
A price collapse leaves you with nothing...and i mean totally nothing not even a molecule of air...pure nothing. Environmental damage....is great, unmanaged and it has a perpetual effect...even if some mining is performed with renewable energy , the amount of heat dissipated to the air is causing more damage that it can be measured...not to mention other side effects.
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Yeah...same with the internet. Can't touch it and uses up heaps of energy. It will never gain traction
 
Do you put bitcoin on electronic circuits or connectors? Also gold mining only costs private businesses and during the mining process. Once extracted it does not cost a penny. Bitcoin requires constant hashing. Very different imo.

Daal said:
How much electricity, raw materials, human and financial capital does mining gold require?
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Not true at all. Gold is still one of the, if not the, most efficient conductors on electronic connectors and circuits. Ever had issues with headphone plugs or other cable connections? Probably because the conductors were not gold plated.



Here4money said:
More like oranges and grapefruits. Gold's industrial use is rather limited
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And this is the gold post of this entire thread :thumbsup:

We are effectively going back into the stone age, or even worse. Original barter did not impact the environment at all, now we greatly damage the environment and consume more than entire countries in a year just to keep a proof of concept operational that ultimately promises us to move money from point A to point B, a problem that has been entirely solved. Are we really this stupid?

tsgiannis said:
About power consumption requirements for mining bitcoin and mining gold
There is a key difference and it makes me laugh that so easily slips from people's mind
Gold mining : it should have some pretty hefty consumption along with environmental damage but once mined it doesn't require anything ...it could be stored just about everywhere with any overseeing...as for the damage...is considered managed...above all it is something of real existence...you can see it,hold it,touch it,bite it,melt it...it's there...and even if is no power or the price collapses for any reason....its entity is preserved.
Sidenote : Gold besides the "money" representation it carries it is a metal and a lot of things wouldn't be possible without it..quick example , a lot of contacts like DRAM sticks carry gold in order to avoid corrosion...probably without it we would have to replace drams every few months
Crypto mining : it has a pretty heavy consumption and is growing...the problem is even if it gets "mined" it still requires power to keeps its existance...without power it simply doesn't exist.
Its "existence" is only as long it has a price ...if not is pure void - vaccum , you can't see it,touch it or whatever ....it justs lives in the circuits of some computers.
A price collapse leaves you with nothing...and i mean totally nothing not even a molecule of air...pure nothing. Environmental damage....is great, unmanaged and it has a perpetual effect...even if some mining is performed with renewable energy , the amount of heat dissipated to the air is causing more damage that it can be measured...not to mention other side effects.
More...
 
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DiceAreCast said:
We are effectively going back into the stone age, or even worse.
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I am afraid that i may sound pessimistic but things are moving rapidly to this direction
Let me give a very small example of what we should expect
Right now the price of a semi-decent PC has skyrocketted from $500 to $1000 with exceptional scarce availability especially on GPUs, this is affecting gradually other computing areas like DRAMs (+30%),SSDs(+15%) and it will pass to all the components.
This means that fewer and fewer people will be able to buy a home computer ...and if rumors get true when Apple's follows Tesla example the BTC will skyrocket over 100K in a split second.
The average home computer should carry a price around $2K - $3k banning many people from the acquirement of one...eventually they will have to settle with what they have...and is not over...as the price of crypto rises more and more ways will be found in utilizing every single piece of computing power...probably PS5 +Xbox X will be the next victims as right now GPUs are gone,Laptops with powerfull GPUs are gone....
The 1st in line victim should be the computer gaming industry (game studios) that will face a serious issue as it may have ready to release games but the potential buyers are getting less and less and extremely few would be rich enough to spend $2k+ for a good GPU (Cyberpunk 2077 is only the beginning).
So all the industry will start to stumble as they would move to serious cutbacks as few will have to ability to play an AAA title and probably they will focus on lighter resources games (optimized) that will take more time to develop and more and more...a clear case of vicious circle.
But that's not all as the gaming industry collapses regarding the studios everything else will as manufacturers of gaming equipment, gaming media...i hope you get the picture.
Probably a lot will laugh ... "what do i care if some company goes kaboom"...well just try to imagine the whole picture
And i touched only a very very small part of bussiness world....this will spread to just about everything...
Eventually computing as we know it will get destroyed ...the funny thing would be that everything "started" from someone who relied on the computing boom to get who is right now....
 
tsgiannis said:
And i touched only a very very small part of bussiness world....this will spread to just about everything...
Eventually computing as we know it will get destroyed ...the funny thing would be that everything "started" from someone who relied on the computing boom to get who is right now....
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Last question from my side:
Do you have any position that would profit from above scenario?
 
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