It could be better wrt privacy. L2 & L3 solutions like #[6] will increase privacy
Wrt the code is perfect, I mean PoW (not changing to PoS)
It is wrt changing the code to proof of stake, you're missing the point
Hard war > soft war
😆
Yesterday Greenpeace released a "research" report asking financial institutions like Fidelity support changing Bitcoin's code from PoW to PoS
Let's dive in why this is in bad faith & #TheCodeisPerfect
GPs "research" is the usual misinformation abt how bitcoin works & energy use that has been debunked by *real* climate activists in Bitcoin
> 50% of Bitcoin's network is ZERO emissions, period. Emissions are DECLINING. Carbon NEGATIVE is coming. See batcoinz.com/beest/
GP is 'concerned' Bitcoin is accelerating a climate crisis, fueled by "Big Finance"
... If GP was truly concerned about the impact of Big Finance, they would focus on legacy finance's carbon emissions
If Greenpeace was acting in good faith, they would conduct 🍎:🍎 accounting, which shows that Bitcoin is #cleantech from a lower energy use & carbon emissions perspective
Bitcoin is a drop in the bucket vs the legacy system & stores of value it *replaces*
If Greenpeace was acting in good faith, they'd recognize that the carbon emissions associated w/ "Big Finance" from lending, underwriting, & investment activities are more than 700x higher than a financial institution’s direct emissions
If Greenpeace was acting in good faith, it would identify conflicts of interest
GP received $5M from Ripple's Chris Larsens, to launch the anti-bitcoin #ChangeTheCode campaign. Ripple benefits from the spread of misinformation against Proof of Work. See https://bitcoinmagazine.com/culture/change-the-code-campaign-against-bitcoin for more info
At the end of the day, #ProofOfStake systems will *never* fund the transition to a low carbon economy, which continues to suffer from underinvestment (see my thread on how bitcoin can help address this https://twitter.com/Crypto_Mags/status/1605845121811025920?t=Vyl25hwHLqZoXDXve9wyfw&s=19)
Bitcoin's #ProofofWork system is the *only* way to achieve a net negative outcome
Ultimately we have facts on our side & a growing arsenal of projects
From Texas, to LATAM, to Africa, #Bitcoin's helping accelerate #renewables, building sustainable microgrids, addressing methane emissions, reusing waste, & even protecting gorillas (https://medium.com/@mgronowska/mining-bitcoin-to-protect-gorillas-in-the-congo-6439c2c3cee3)
Bitcoin's code provides for an optimal environmental outcome. The elegance of Bitcoin is that it's based on a system of economic incentives
Thus economic incentives are built in to ⬇️ cost & ⬆️ revenue:
🔸️ ⬇️ waste (heat, energy, garbage) & find the cheapest sources of energy (increasingly renewables)
🔸️ optimize resources (eg grid resources)
🔸️ ⬆️ efficiency
🔸️ ⬇️ GHGs: carbon = traditional cost center
Instead of the "stick" (env regs), which haven't succeeded to date, Bitcoin is the carrot 🥕: economic incentives (mining rewards) to help achieve the transition to a low carbon economy.
Ergo the code is perfect as is!
Fin/
Yes, I agree. Starting to see some rude comments. I just block cause I want my PV to stay as long as possible 😆
Twitter is the noisy city. People are rude & never smile when walking by; & sometimes a stranger yells at you
Nostr is my happy place, like a cozy cottage in a little village where everybody waves to you, pops in to chat or offer you extra bounty from their garden 💜
My Bitcoin Beach pod dropped! I had a blast reflecting on my *too short* visit & include a few travel tips for El Salvador!
We also talk mining & supporting infrastructure development, PRTI & waste tires, & Bitcoin as an unconfiscatable asset in the context of generational wealth
PS excuse the wild hair, the result of failed surfing attempts. I went from 🏄♀️ to 🎙 😆
Love when my little brother sends me a quality meme
I worked on 🇨🇦 climate policy & cap & trade for a decade. I saw the goalposts (CO2 targets) shift & insufficient investment in low carbon transition from the public & private sectors
I'm now in Bitcoin b/c the economic incentives are there to accelerate renewables, use waste tires, address CH4 leaks, & stabilize grids
Bitcoin is a means to address negative environmental externalities w/out regulation that's meant to close that gap. So instead of a stick approach (regs), we're using a carrot (economic incentive wrt coinbase reward)
This is the optimal path forward
Legacy bank proof of keys day!
#[0]
It's in the dung too, and 84x is nothing to sneeze at. Helping some is better than nothing
Economist: 🐄 Beef emits 31 times more CO₂ per calorie of food than tofu does. By cooking so many cows, we are cooking ourselves, too. Forgoing steaks 🥩 may be one of the most efficient ways to reduce our carbon footprint
Me: Bitcoin mining ⛏️ can lower the carbon from cow manure 84 times by financing the anaerobic digesters that convert methane to CO2 & supporting farmers with a diversified revenue stream
Checkmate ♟️
