Let's discuss how little you actually understand about economics and energy.
The first thing to understand is that energy is not globally fungible. Electricity decays as it leaves its point of origin; it’s expensive to transport. There is a huge excess (hydro) in many areas.
Let's discuss the environmental cost of bitcoin. Because despite all the push for sustainable and green investment in the tech sector, there's a giant smoldering Chernobyl sitting at the heart of Silicon Valley which a lot of investors would prefer you remain quiet about. \U0001f9f5 (1/)
— Stephen Diehl (@smdiehl) January 17, 2021
You wouldn't argue that we are producing *too much* electricity from renewables, right?
Many previous estimates have quite faulty methods and don't take into account the actual energy sources. Is it fair to put a GHG equivalent on hydro or solar power? That would seem a bit disingenuous, no?
Recently the petro industry has experimented with burning CH4 "flare-offs" to power Bitcoin miners, cutting methane emissions and reducing warming potential.
https://t.co/WaleCRMh51
More from Economy
1) Well, also there is this:
For 400 years inflation has NOT been in a "mountain range" of up and down, but rather stair-stepped in giant increases, always associated with major transformations in economic arrangements.
For 400 years inflation has NOT been in a "mountain range" of up and down, but rather stair-stepped in giant increases, always associated with major transformations in economic arrangements.
The only way that debt comes down is if rest of world flips to trade deficit status w/US (I.e., trades accumulates $USD from prior trade surpluses w/US for actual goods & services). Not likely anytime soon. $USD as global reserve currency requires massive public debt.
— David "Most Vicious Dogs & Ominous Weapons" Herr (@davidcherr) January 15, 2021