Musk/Tesla Statement regarding BTC power usage

Chia must be on his radar :sunglasses:

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For a company that plays so much on their environmentally friendly messaging it was odd they ever got involved in the crypto space at all.

Then again, they are also fighting the right to repair bill, also not very environmentally friendly if you ask me haha

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Elon Musk, Technoking of Tesla, orders a halt to bitcoin car payments - Hopeful for Chia ?

A couple of hot candidate come to mind - Chia (small fry but hey !), Ethereum with POS (already has great network support), other hot POS chains

As per Elon Musk, tesla will no longer accept bitcoin as currency due to it not being green, he also said that he will accept other cryptos should they be less energy intensive.

Does this mean chia will go beyond what we expect?

Hypocrite! He is promoting DOGE, which is mined by burning power, what’s the difference!

If true
and Elon is looking for a more energy effeciant crypto
The the price of Chia with in the few days/weeks become insane…

And of course make it so profitable that the whales will farm more
Pricing us Tiny farmers out off the market and making it almost impossible to be awarded Chia…

Somone needs to put Elon in one of his rockets…

How come nobody’s calling him out on having been involved with BTC in the first place, hasn’t BTC been around since forever, did we not all know how much fossil fuel it has burnt…they say what they say but I ain’t buyin it, and now, neither a tesla…

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Chia is better than Bitcoin but it cannot match the efficiency of any POS coin - and the daddy of all of those WILL BE (in another few months, years … lol) ETHEREUM

Even if Ethereum is POW right now, a transition to POS is inevitable and probably/possibly quite soon - (though that transition has been promised for years)

Chia is interesting but not in the same class as Ethereum

IF Chia could run the EVM (instead of the Clvm) then it might have better prospects as it would allow porting of existing DEFI stuff to Chia, but Chia uses Clisp so it require fresh implementations of DEFI primitives) and that requires adoption to attract developers first

I’d hope for a bit of extra “love” though

Sort of like how self-driving cars are “just around the corner” and AI is “just around the corner”…

(I am a software engineer by trade, I have a wikipedia entry which doesn’t make me right, but it does make me knowledgable and somewhat well known within my field – and I can tell you those two things are are much, much farther off. Maybe not in my lifetime.)

I’ll believe Ethereum moved to proof of stake when I see it. Isn’t it a running joke within the community already?

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I saw something somewhere that showed Doge actually had relatively low power usage. Cannot find the link now though sadly.

I am guessing that the costs of POW of a coin is in relation to its Market Cap and mining reward level - Doge is inflationary (so plenty of rewards) and if it was adopted am sure it would attract 10x the number of miners/power than it does now

Bitcoin is not special in its power usage - only in its market cap, dominance

Oooh i dunno - the 50% “threat” from the mining pools recently probably scared a few people

And a green Elon Musk “endorsement” would do no harm to it value

so more incentive piling on this time

PERHAPS it is about Elon’s ambitions in the HVAC world and the idea that a crypto miner integrated into the heating system and/or powered off excess solar capacity could meet the 10% criteria … knowing Elon maybe its all part of a BIGGER plan for world domination … lol

Interestingly i owned/lived in a log house (not a cabin) in FInland, back in 2013, which had a forced ventilation, heat recovery system (it was in Finland and reclaiming heat from stale air is common) I wanted to fit a couple of miners into the recycling loop but my wife declined. Little did i know how much i would have made had i done it at that time

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