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hugohanoi's profile
Hugo Nguyen
Hugo Nguyen
Hugo Nguyen
@hugohanoi

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Hugo Nguyen

@hugohanoi

I chain, therefore I am ⛓️

Joined April 2012

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    Hugo Nguyen‏ @hugohanoi Mar 29

    Hugo Nguyen Retweeted Ronin

    This is a fallacy. Bitcoin's energy usage has a ceiling: miners can throw more energy at mining only as long as it's still profitable (MC=MR). Aka, the "hash power follows price" rule. BTC's total energy usage is determined by how much the market values its existence. No more.https://twitter.com/Ronin43/status/979496530288828417 …

    Hugo Nguyen added,

    Ronin @Ronin43
    Replying to @MarkAWood221 @SatoshiLite @hugohanoi
    Listen thanks I’ve already heard the argument from Antonopoulos but I believe at some point the amount of energy consumption will rise to the point where is is just unacceptable to continue. The solution is not to get people to accept that crypto is great.
    4:30 PM - 29 Mar 2018
    • 7 Retweets
    • 35 Likes
    • Storms Bitcoin Guy [Full Nodes Matter] Nick Rodriguez Snacky 🍙 boom Hernz Phineas Cakehill Mission X tufcos
    7 replies 7 retweets 35 likes
      1. Elkim¯\_(ツ)_/¯  ⚡️‏ @ElkimXOC Mar 29
        Replying to @hugohanoi

        I believe that PoW and blockchain adaptation will get (engineers) to push renewable energy field ever more and more. PoW will be good thing for enviroment eventually.

        0 replies 0 retweets 3 likes
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      1. Jake Zeal  ⚡️‏ @JakeZeal Mar 29
        Replying to @hugohanoi

        PoW mining also scales independently from the number of bitcoin transactions. We do not require more energy usage from miners to scale to billions of users, it can be done within the current system. Mining is used to secure the network.

        0 replies 1 retweet 0 likes
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      1. Geul Lee‏ @glenlee_ Mar 29
        Replying to @hugohanoi

        Both arguments hold if market value of BTC increases to the extent that the amount of energy consumption becomes unacceptable. Seems not a fallacy to me...

        0 replies 0 retweets 1 like
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      1. Ronin‏ @Ronin43 Mar 29
        Replying to @hugohanoi

        A super volcano erupts, darkens the skies, a solar storm zaps transformers all over the world they take 5 years to rebuild, a underwater landslide causes a tsunami, like I said as long as power is available and cheap miners can throw as much of it as they want until they can’tpic.twitter.com/dNWl4TUKC5

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      1. Ronin‏ @Ronin43 Mar 29
        Replying to @hugohanoi

        The Quebec Government told Chinese miners “If you think you are going to move here, plug in your miners and suck cheap power and not bring jobs you are sorely mistaken” and why do you think the Chinese miners were there in the first place? They are getting to boot out of China

        0 replies 0 retweets 0 likes
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      1. Ronin‏ @Ronin43 Mar 29
        Replying to @hugohanoi

        This is a fallacy. Miners can throw more energy at mining as long as it still exists for them to buy. What happens when it’s more important to keep the operating room lights on? Like it or not BTC’s total energy usage is determined by the government that sells it to the miners.

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      1. Distributed Paul Technology‏ @SauceryCoin Mar 29
        Replying to @hugohanoi

        And we get halvings every 4 years. Should put a big lid on energy usage

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