Crypto Mining Hearing: What Politicians Have Planned!! 🇺🇸



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30 Comments

  1. Honestly, unless the power consumption of PoW mining gets greatly reduced via coming blockchain updates, I absolutely want it gone. Saying that PoW is okay currently because some miners use renewables is like saying large open wounds are okay because some people have bandages. It doesn't resolve the core problem. Am I saying proof of stake will be the final solution a decade from now? Not necessarily. But it's still a WAY better solution than PoW.

    Note: special interests already control PoW mining. PoW mining involves a sizeable front end investment that only the upper class can afford without going into debt. So this worry that PoS is undemocratic compared to PoS is a crock of sh*t. The wealthiest combined already control the development of PoW blockchains since only miners can vote. I'd compare the power that powerful bitcoin miners hold over bitcoin to be akin to that that OPEC does over the oil industry. The wealthiest also control all the return on investment from transaction fees. Whereas PoS allows staking pools that even the poorest can invest in.

  2. It's great you try to bring us unbiased information as you say, except you aren't unbiased at all. In case you didn't know, Tesla actually does not make most of its money from selling carbon credits. Carbon credits are totally negligible for Tesla. If only you looked at their income statement, you would see it makes less than 2 % of their revenue (and declining). Speak of spreading FUD…

  3. Nicola Tesla invented a way to produce and distribute unlimited power to the entire planet for free. They shut him down because "they couldn't put a meter on it" and all his research was confiscated. I don't want to hear any more moaning about the energy consumption, because such an issue simply does not exist. Greed is the problem here since they want to get payed for the energy consumption which could otherwise exist for free.

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  5. No Tesla fans in the house?? I read down a couple hundred comments and no one commented on your statement that most of Tesla's profits comes from the sale of regulatory credits. While that was true not that long ago, in 2021 gross automotive profit was $13.8 Billion, of which only $1.5 Billion were credits.

  6. The intro and outro music – it has the same effect on me as the Nintendo Switch click sound used in their ads. I could use this as my ring tone.

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