Bitcoin Energy Memes, how important is bitcoin?

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NetHappenings 5/14/2021

Security

Lifehacker: How to Delete Your Clubhouse Account, Because It’s Not as Easy as You Think.

MEMES ALWAYS WIN – THERE IS NO FIGHTING A MEME EXCEPT WITH A BETTER ONE.

Energy

The earth is hit by radiant energy of 119,444 TWh each hour from the Sun.
The world produces 160,000 TWh every year.

50,000 TWh is wasted.
#Bitcoin uses 150 TWh.

 

Just to review:
#Bitcoin price rising on news that Elon is clinically insane.

#Tesla cars are Good because they use electricity.
#Bitcoin miners are Bad because… they use electricity.

How do you think Elon’s dirty battery’s get made in China or gets his dirty fuel for the rockets he sends?

BTW HOW DO YOU THINK YOU GET TO READ THIS EMAIL ON YOUR PHONE OR YOUR COMPUTER OR WATCH YOUR TV OR DRIVE OUR CAR OR USE ANY TECHNOLOGY YOU KNOW ABOUT WITHOUT THE REAL EARTH ELEMENTS GETTING MINED OUT OF THE EARTH BY ACTUAL MINERS – WHO TEAR DOWN TREES, DISPLACE WILDLIFE, USE POISON TO GET AT THE ELEMENTS THAT POLLUTE THE WATER AND KILL THE WILDLIFE AROUND THE WHOLE MINING AND REFINING  OPERATION?

CRYPTO USES THE LANGUAGE FROM REAL MINERS AND THEIR REAL OPERATION:

WHO MINES THE MOST GOLD, DIAMONDS, PRECIOUS METALS?
Middle men have the current power, the miners themselves have the ultimate power. see https://youngbloodindustries.com/
We do 100% of our minerals extraction (mining), exploration, timber clearing, smelting processing, facilities build-outs, and 70% of our equipment fabrication. The future of mining enormous mineral wealth lies in oceans, jungles, and deserts where we operate.
This is what happens to the planet.

Your phone, computers, cars, and everything else uses precious minerals.

 

CRYPTO USES THE INTERNET NETWORK LANGUAGE

Bitcoin is a race to the cheapest energy source.
If Elon can be forced to “change his mind”, then it is really important to know why.

Why is proof-of-work crucial for bitcoin? Because a valid hash (PoW) is how P2P nodes know that a block is valid, without needing a server or trusted third party. Bitcoin is dead without PoW! A failure to understand proof of work is a failure to understand Bitcoin.

Proof of Work architecture anchors the crypto-asset network physically & politically to the firmament of reality, driving ferocious competition in the marketplace to decentralize, improve, & secure the network, thus assuring vitality & integrity over time.

Temporal: To attack the network an entity needs to marshal massive energy, technology, financial, political, & mining resources over the course of 2-4 years. This makes any attack very difficult, expensive, slow, hard to conceal, unlikely to succeed, & allows time to react.

Mining serves as the foundation of the monetary network – critical to its growth, stability, longevity, vitality, & integrity. The Proof of Work architecture is a masterpiece of engineering that anchors the system to the real world, providing Seven Layers of Security.

Mining: As Miners mature operationally & emerge public, they become powerful advocates for the network, as well as buyers & holders of BTC, driving S2F negative, with world-class financial, legal, political, & technical capabilities as well as strong vested interests to defend.

Spatial: Energy, technology, political, financial, & mining competition drive geographic decentralization of the mining network. Security is never co-located with the asset & has no nexus, neutralizing physical, institutional, & regulatory attacks – making Bitcoin fault tolerant.
https://twitter.com/michael_saylor

Elon Musky Moves

It’s a shame so many people listen to Elon Musk. Bitcoin was there before him. Tesla doesn’t make any money. The fed gravy train comes with strings attached.

@Elisabeth_Steyn
The environmental impact of #BTC is not news.
Elon is not reacting to groundbreaking information about crypto. He’s reacting to changes in the renewable energy credit (REC) market. And there have been two big pieces of news on that front.
Tesla makes most of its $ from RECs, not cars. Last year, it made $1.58bn from sales of RECs to gas-powered auto companies (which must buy to offset their CO2 emissions). Tesla has never been profitable without REC sales to bolster its auto margins.

That’s about to change.
Last week, @Stellantis (i.e. PSA Group + Fiat Chrysler) told @LePoint it’ll meet carbon emission rules this year. That means it won’t need to buy RECs from $TSLA anymore. Fiat Chrysler accounts for $2.4bn of Tesla REC sales from 2019 to date and 55% of Tesla sales since 2008.
So: Tesla’s REC empire is winding down. Other auto companies will follow Stellantis as they roll out EVs.

What’s a Technoking to do?
A: Pivot from the auto to the refining industry.

Tesla is after the US renewable fuel credit market.
Yesterday, @Reuters reported it has a pending application with the @EPA
tied to power generation + renewable credits.

Environmental regulators don’t typically love Bitcoin.
Which is why Tesla made two calls: today’s very public announcement that it would suspend car sales with Bitcoin; and last month’s bizarrely clandestine revelation it had sold $101m of the asset.

Bitcoin

For the first time in history, we have a technology to guarantee the human right to property. #Bitcoin is an instrument of economic empowerment.
https://www.newsweek.com/46-million-americans-now-own-bitcoin-crypto-goes-mainstream-1590639

NOT FINANCIAL ADVICE

52-week High/Low price prediction for #bitcoin by year:
2018: $18k/$5k
2019: $5k/$3k
2020: $15k/$4k
2021: $250k/$15k
2025 (the peak of the next cycle) is the year to watch for.

HOW IMPORTANT IT IS TO SUPPORT BITCOIN?
!!!!!!!!!!!!! THIS IMPORTANT !!!!!!!!!!!!

Eric Wall Dec 28, 2020
Some people still fail to understand how important it is that bitcoin stays #1.

If Ethereum would ever replace bitcoin, everyone would ask themselves if Ethereum can get replaced too.

There will be very little credence to the “digital gold” story.

Win the battle, lose the war.

 

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