Posted on 04/09/2022 9:27:17 AM PDT by E. Pluribus Unum
In his keynote address to the Bitcoin 2022 conference in Miami, venture capitalist Peter Thiel said environmental, social, and corporate governance (ESG) is “perhaps the real enemy” of the cryptocurrency, likening the movement to the Chinese Communist Party (CCP).
“I think that ESG is just a hate factory. It’s a factory for naming enemies, and we should not be allowing them to do that,” said Thiel, co-founder of both PayPal and Palantir, to cheers from the audience.
Bitcoin has met with criticism from environmental activists at the Sierra Club and the Natural Resources Defense Council (NRDC), among other groups.
They typically cite its energy footprint, arguing that its proof-of-work (PoW) mechanism for validating transactions is worse for the environment than the proof-of-stake (PoS) mechanism used by some other cryptocurrencies.
In “Crypto Has a Climate Problem,” a recent Explainer from the organization, NRDC financial expert Alfonso Pating asks of Bitcoin, “Is it truly necessary?”
President Joe Biden’s March executive order (EO) on cryptocurrency touched on similar themes.
In that EO, he told the White House Office of Science and Technology Policy (OSTP) to coordinate an interagency report on cryptocurrency’s climate and environmental effects.
That same EO broached discussion of a potential future digital dollar, or central bank digital currency (CBDB).
“The administration places the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC,” the EO reads.
(Excerpt) Read more at theepochtimes.com ...
Use dedicated mining computers to heat homes in the winter.
Bkmrk
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Recently I read an article where Peter Theil had some really choice words for Warren Buffet, Larry Fink and Jamie Dimon, 3 heavyweights in the business world, it was interesting to hear one billionaire rip to shreds 3 other billionaires.
Can some bitcoin fan here tell me what the damn thing is useful for?
I can't agree with Thiel's attempt at cancel culture. The ESG score gives information about a stock, and any information is useful. I use ESG ratings inversely: a lower ESG rating is a positive for the stock. It shows that management is more likely to work for shareholders, rather than consider the corporation its sandbox for virtue signaling.
“I think that ESG is just a hate factory. It’s a factory for naming enemies, and we should not be allowing them to do that,” said Thiel, co-founder of both PayPal and Palantir, to cheers from the audience.”
He’s absolutely right!
How is that working out? I’ve been thinking I might should more actively manage some of my portfolio based on that.
It’s hard to tell, because ESG is only one factor. I won’t invest or disinvest on that alone.
P.S. I like your tag line.
It’s used for storing and sending value instantly, trustlessly, irrevocably, to anyone anywhere in the world for dirt cheap via transactions secured by the largest computer network in the world.
The volatility negates that. Bitcoin lost 1/3 of it's value in dollar terms over the last 12 months. Value storage requires stability. That's why there is so little overlap between Bitcoin folks and Goldbugs.
The eco-fascist claim that the mining Bitcoin is a threat to the environment is dividing the Millennials.
Over on r/bitcoin, a subreddit of the social media site Reddit, Millennials are blasting the environmentalist Millennials for spreading lies and propaganda. The news sites used by Millennials to support the eco-fascist views and attack Bitcoin have also been designated as “fake” news by Millennial Bitcoin supporters.
There’s an opportunity, if the Republicans see it, to divide the Millennial demographic and strip away a major portion of the democrat support and base.
Mexicans are leaving the rat party.
Moms with kids are leaving the rat party.
Millennials are next to tell the rat party to stick it.
We are not far away from destroying the rat party.
“Bitcoin lost 1/3 of it’s value in dollar terms over the last 12 months.”
Interesting time frame.
Let’s try this time frame for comparison:
Since March, 2020, Bitcoin has increased in value more than 1,000 percent.
Bitcoin - Mar 09, 2020, price $4,106.98
https://finance.yahoo.com/quote/BTC-USD/history?period1=1410739200&period2=1593302400&interval=1wk&filter=history&frequency=1wk
Bitcoin price now - $42,545.58
https://coinmarketcap.com/currencies/bitcoin/
You can speculate on anything. And maybe you get lucky and make some money. Tulips, etc.. But that isn’t value storage.
Have no idea what you mean by “value storage.”
Likewise!
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