Tesla will no longer accept Bitcoin over climate concerns, says Musk

pp111 · 13 May 2021 at 11:27

Finally, some sense. It's about time people realised that Cryptocurrencies have no future in a world that is supposed to be cutting back on energy wastage.

https://www.bbc.co.uk/news/business-57096305

pp111 · 14 May 2021 at 08:17

arknor said:
so will he stop manufacturing cars and launching rockets into space as well and cut down on his lifestyle? yea thought not

All unrealistic things. But wiping out Cryptocurrencies is not unrealistic at all.

pp111 · 14 May 2021 at 08:21

flea.rider said:
mr musk is a very smart man .. slash the price of bitcoin .. then buy up whats left .. he know it will go up again ..

Bitcoin has no intrinsic value at all. It is only good as long as people believe it is good. It could be wiped out in a day. Only an idiot invests in something so volatile. It's not to say there aren't rich idiots, but it is a large risk and the longer you stay in the game the more likely you are to lose everything.

pp111 · 14 May 2021 at 08:23

Maccy said:
Sorry to break it to you, but I think the general consensus is that crypto currencies are here to stay for quite a while.

I wouldn't bank on it. People and governments are starting to realise how wasteful they are. I think eventually there will be change. It will probably be change to protect the value of the currencies, but I think mining days have a very limited future.

pp111 · 15 May 2021 at 07:58

moon man said:
only a million dollars a month leccy bill

The more you look at it, the more you realise how just insane it all is. It is a gross waste of resources and power. Computers probably many millions of times more powerful than they need to be to just run accounting software. Only humans are stupid enough to devise a system so wasteful. This is akin to "buffalo" hunting in America ( and many other examples worldwide ). Driven by greed without the slightest concern for the long-term ramifications.