Posts about Bitcoin
Elon Musk in 2021 (typo in the title) in a Tweet said:
"When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions."
Since in the first place the reason they gave for abandoning it was it's environmental issues and energy use, this made sense, and he said that Tesla would start accepting it again if it clean energy use mix was 50% or higher.
BMC (Bitcoin Mining Council) found out that in Q4 2022, that number was at 58%.
It's been 2 years now and what he asked for has happened.
Do you guys think they'll start accepting Bitcoin again? Or that it would help Bitcoin if they did? It definitely hurt the prices a bit when they announced that they were ditching it, so I'm curious to see what would happen.
PS: I meant in 2021, don't know where 2019 came from.
The Tweet:
https://twitter.com/elonmusk/status/1404132183254523905
An article about the findings of BMC:
https://cryptopotato.com/bitcoin-mining-became-greener-and-more-efficient-in-2022/
Five years ago, Gary Gensler was a professor of the Practice of Global Economics and Management at MIT. He taught courses on blockchain technology. These are still available online. See https://www.youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6MYgVa04Fn
In his lectures, Gary Gensler often spoke very fondly of blockchain technology, Bitcoin, and Satoshi Nakamoto.
He even told his students about Pizza day in his lecture on September 5, 2018. Pizza day is celebrated today and refers to May 22, 2010, when Laszlo had two pizzas delivered for which he paid 10K Bitcoins. This is a slide from Gensler's presentation:
https://i.redd.it/kpwwf9jy7f1b1.pngSee https://youtu.be/v2yoPmhncSY?t=340. Gary had a huge smile on his face as he proudly told his students the Pizza story.
https://i.redd.it/anzbqn8s8f1b1.pngA few years later, Gary Gensler was nominated by Joe Biden to serve as Chair of the SEC February 2021. He was sworn into office on April 17, 2021. Most people were so positive given his blockchain expertise. The top replies on the lecture, which was posted in March 2021, illustrate the positive vibe:
https://i.redd.it/4n7sc6ve9f1b1.pnghttps://i.redd.it/j8mbo1xg9f1b1.pngReplies to posts around that time here show the same:
https://i.redd.it/9q9checu9f1b1.pnghttps://i.redd.it/dbtlut03af1b1.pngFast-forward two years and Gary Gensler has basically become one of the biggest crypto villains. He has failed to provide any clarity of the rules - he cannot even answer the question of whether Ethereum is a security. He has also seemingly at random sued various cryptocurrency projects and exchanges. He has also failed to protect investors from harm. It's like he is slowing the growth of crypto on purpose.
https://i.redd.it/asyugu84cf1b1.pngHow is it possible that Gary Gensler went from a blockchain technology enthusiast who likely got many people to buy Bitcoin through his courses to the person he is today?