Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
suchmoon
on 25/05/2021, 16:07:02 UTC
⭐ Merited by JayJuanGee (1)
I do get some sense that Saylor tends to be much more grown up than Elon and also has built quite a bit of credibility in the bitcoin space in the past 10 months or so.. as compared to Elon dicking around in a variety of ways.. whether self-serving, distractions or attacks upon bitcoin.

For all the praise Saylor gets, the bottom line is that he's pumping Bitcoin with OPM and basically running a Bitcoin ETF. I'm genuinely surprised how bitcoiners - typically distrustful of everyone and everything related to Walls Street / banks / big corps / etc think that this is a good idea.

I doubt that you were mining for a medal..

Nah. I just find it really hypocritical for those suits to try and make it look like they're doing us all a favor talking about "transparency" and "renewables".

Personally, I would not go so far as to suggest that meetings have no effect or that a lot of public attention could have affects too.. whether meetings or public attention causes actual substantive focusing on getting more green, or going through the motions or attempts to seek government subsidies can be variations regarding how meetings could change focuses of individual miners or pools.

Except for the last few months and brief periods in the past, Bitcoin mining is marginally profitable at best, and only with the cheapest power. Which in North America often happens to be renewable (hydro in Washington or Quebec, govt subsidized solar panels, etc) but that's basically just a coincidence. I doubt that any sane large scale miner would switch their farm to 100% renewables unless it's the cheapest option, otherwise they'll be out of business when Bitcoin crashes and/or difficulty goes up.

I also doubt they would want to regulate themselves out of existence nor do they have the lobbying clout to get subsidies... but they might need to suck up to govt/banks/etc in some way and buy some solar panels from Elon. Again, a mighty ironic place for Bitcoin miners to be and mostly because some wall street brats pretend to be our friends while tweeting stupid shit.