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Flying-Dutchman

Hodor and the Bitcoin maximalist

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Hodor, with his Twitter message, has drawn the attention of some real hardcore Bitcoin maximalists, including Tone Vays and Vortex.

Apparently they see the consumption of electricity for the BTC minning a little different than @Hodor and of course they have some compliments for XRP B)

Tone Vays even paid attention to it through his Youtube channel. At the 1.10.00 mark

 

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1 hour ago, Lurker123 said:

I don't get it. Why not spread this in environmental and climate change communities? 

Yelling at each other in a echochamber seems like such a waste of time.

I agree , environmentalists would push that knowledge to the general public easily  if they knew .

A point should be made here that 57.4% of the czech republics energy is made by burning fossil fuels .

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29 minutes ago, Zerp_Legend said:

Doesn’t mining create constant selling pressure ? I am prettt sure that some big miners stopped their operations during this bear market 

Atm : Carbon footprint per transaction (kg of CO2)199.7

thats approx to burning 100L Diesel with your car....

 

In Europe we switched ligthbulbs for energy efficency... 

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I was flabbergasted to watch how he seems totally blind to facts.  Willing to twist his head in any direction to avoid looking at something against his bias.  

 

It was scary to me to see because I know confirmation bias is real and I can’t help wondering how blinded I am.  

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3 hours ago, Tinyaccount said:

I was flabbergasted to watch how he seems totally blind to facts.  Willing to twist his head in any direction to avoid looking at something against his bias.  

 

It was scary to me to see because I know confirmation bias is real and I can’t help wondering how blinded I am.  

This noise will soon turn to silence, mouths agape.

Sorry Tone, but it's stick shifts and safety belts for XRP-

 

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Edited by PhiGuy

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That PoW fails to measure up to the consensus decentralisation model happens to be the Achilles heal that threatens BTC reputation to be an investable currency of future.  Anyone who has invested years of their lives into the BTC eschatology is going to resist the new narrative that is being widely adopted across cryptocurrency communities.  The new narrative is that PoW is wasteful and does not work, the technology will be superseded by more efficient consensus coins like XRP that will work with the banks and regulators.

Some people, when faced with evidence that their beliefs are wrong, go into a state of denial.  They will use rationality to boost their denial, like the mouse that knew it was a cat.  The mouse finally met a cat and knew he could not be eaten by the cat, so he threw himself in a vat of water and drowned.  Sure enough the cat never eat the mouse.  Mice in denial always win. They are harmless so unless they are attacking you leave them alone in their irrevant worlds.

By the way it is much more factual to link PoW to wasting non renewable resources than global warming.  Everyone agrees that CO2 is a greenhouse gas, and adding a greenhouse gas will affect the temperature of the planet.  The controversy is that global warming as presented by the IPCC and media is dependent on unproven theories of positive feedback loops between warming and warming.  There is no evidence that this has been happening, so to make out that PoW will catastrophically accelerate the warming of the planet is a very controversial statement that has not been supported with factual analysis and/or a null hypothesis. Just my two cents worth  (Perhaps my statement will make me look like I am a denier too.  My point is that linking PoW to CAGW will alienate people like me who follow the CC debate closely and have been unconvinced by the green "science".  However linking PoW to wasting scarce oil and coal reserves gains my full support).

Edited by Julian_Williams

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Bitcoin maximalist find that they play in a different league.

There is only one real blockchain and that is BTC. If it is not a POW then they speak about a centralized database and not a blockchain. All forks that originate from Bitcoin and use POW are still tolerated because they can serve as a test for the real blockchain BTC.

Tone Vays together with Peter Todd (well known in the BTC community) also made a video about the Ripple scam. I myself can not get angry about it anymore and nowadays I even have to smile about so much misinformation and wrong conclusions they are drawn with regard to XRP and Ripple

With regard to electricity and CO2, they think they have found the solution in cooperation with Hydro power plants. Excess electricity that is already generated can then be used for the mining of BTC. In South America, a large mining company has signed a contract with a newly built hdro plant.

Personally, I still see BTC as Ford's model T and new innovations in blockchain technology that do not belong to the existing vehicle; happen to be considered threatening for the survival of the vehicle especially in the eyes of the BTC community

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I would be really interested in a conversation between David Schwartz vs Tone Vays & Peter Todd. I am 99.99 % sure David would just blow them away with his knowledge and would debunk every FUD they'd try to throw his way.

It's nice, that some countries use renewable energy sources for mining BTC, but imagine if there was no need for mining and this electricity could be used somewhere far more useful.

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The biggest problem BTC has is it doesn't scale.  It becomes very very slow (literally days to move money) and very expensive (such as $50 to move $50) once the Memepool gets overloaded....been there, done that - and I'm sure a few here have had first-hand experience of it. "but....but...Lightning Network!" - there are a lot of problems with the LN that are deal-breakingly bad - here's a detailed list of them > https://medium.com/crypto-punks/lightning-network-ux-centralization-b517037b92ec

So BTC is dead on arrival when it comes to scale - it just can't manage it, and there's nothing viable in the works to solve these problems for BTC.  It really is dead, but only some of us know it. 

I can't support any technology that I know is going to be made obsolete, and that there are better alternatives out there.  BTC maximalists just bang on about security as if speed, scale and cost are irrelevant.  Security alone is irrelevant if people want faster, low cost alternatives.  Ironically, people will be buying tokenised precious metals in the future for their store of value - quickly and cheaply.  They will not need wallets or need to know what memepool or "mining fees" are, or have to look at a spinning icon that next to a confirmation count for a transaction.  All the neckbeard quirks of Bitcoin will be eradicated because they are just roadblocks to a good user experience.  The Internet of Value will be about instantaneous transactions performed at worldwide scale, each transaction being a few specks of dust off your balance. 

Edited by 2ndtimearound

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