@cecilia_hsueh More hygienic next time?! What does that mean? loool, instead of complaining that is so easy to do and brings no value, it would be great to propose concrete solutions and help the organizing team that already works their ass off for events! Wants no contact, follow in remote! :)
@modular_summit Hi all, sorry for asking here since I didn’t see any direct contact on the website, so do you have a found and lost items? I forgot my white USB C cable (on both ends and it’s 50 cms long I think) in the summit. Thank you for your help! :)
Bill, it’s great that you are thinking about Bitcoin! A couple of points:
- The rate of new BTC entering the market through mining drops by 50% every 4 years and in approx 12 years the rate will be effectively zero. At that time Bitcoin will largely run on transaction fees that users pay on the network.
- There are new layers built on top of Bitcoin, called Bitcoin L2s (layer-2s), that users will use for BTC payments. These layers don’t cost energy and effectively absorb traffic from L1 to L2. Only the most important transactions need to be on Bitcoin L1.
- Facts (1) and (2) above put a natural limit both on newly minted BTC and on total payments traffic on Bitcoin L1. Bitcoin energy consumption needs to be “high enough” that it’s not easy for any single actor to attack the network, but that “high enough” number is not infinitely.
- Most importantly, Bitcoin is driving innovation in the energy sector and putting latent/wasted energy to work. Ineffective processes like gas flaring can be replaced by Bitcoin mining (already happening), amongst others.
- Bitcoin helps balance the electricity grid. You should think of Bitcoin as a free market solution that makes the energy sector more efficient, more innovative, and more environmentally friendly.
Hope some of these points help with your thinking of Bitcoin. We recently helped create a new crypto research center at Princeton and the energy questions comes up there often. We’d be delighted to get you more involved and share some research/insights from the Princeton center about Bitcoin and energy use. Thank you!
The Mona Lisa has landed at #NFTParis
The world’s most famous painting has moved from The Louvre to the Open Campus booth!
This is your chance to win $250 EDU💰
1️⃣ RT this tweet
2️⃣ Reply with a screenshot of your .EDU below
3️⃣ Cross your fingers!
NFT Paris attendees can also sign the artwork IRL for their chance to win.
Bonne chance! 🍀
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