Market Lab Report - FAQs re: Bitcoin Energy Consumption/Elon

Published:

13 May 2021 15:34 ET

I've received numerous questions across multiple platforms.

Elon is wrong but he probably is very aware he is intentionally wrong on bitcoin's energy consumption/carbon footprint since he just applied to the EPA so has to take a 'green' position. Lyd Alden was recently quoted as saying, "When the Bitcoin network's electricity consumption gets to a point where it is using enough methane to more than offset its estimated CO2 contributions, and thus ends up being net-negative for greenhouse gas effects, that is going to be pretty awkward for the ESG critics."

My answer is mostly contained in a piece I wrote in October 2020:

https://www.virtueofselfishinvesting.com/reports/view/crypto-report-10-10-19-bitcoins-energy-consumption-vs-fossil-fuels-vs-nuclear-power

and

https://www.virtueofselfishinvesting.com/faqs/answer/issues-with-decentralized-technologies-1-will-it-overtake-centralized-systems-2-bitcoins-energy-consumption

and

https://www.virtueofselfishinvesting.com/reports/view/market-lab-report-bitcoin-s-carbon-footprint-vs-elon

Also:

https://twitter.com/SBF_Alameda/status/1392724490933575683?s=20

Like what you read?

Let us help you make sense of these markets by signing up for our free Market Lab Reports:

This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.