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Most of the scientific studies cited in the media are using flawed and debunked papers that link usage of the network (in transactions per second) to power usage.

There are many reasons why these papers are flawed, but this is chief among them.

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(I edited for length, and realize I didn't define TPS. That's Transactions Per Second).

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If you mint an NFT, the ETH network is going to use the same amount of power as if you don't mint an NFT.

The price of ETH and BTC *can* have an effect on how many miners join the network, but if you double the size or halve the size, you do not affect TPS.

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The truth is that Bitcoin and Ethereum and most major cryptocurrency have a fixed transaction limit.

ETH is somewhere around 20 TPS.
BTC is somewhere around 7-11 TPS.

This does not change with more or less miners on the network. This does not change if the price goes up or down

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So I realize after speaking with several folks today that bitcoin mining is vastly misunderstood.

One of the big myths is that there's a relationship between power usage and usage of the network.

To be honest, if I didn't make my whole professional identity around bitcoin, I think I'd probably keep quiet about it completely. The way some people are having visceral reactions to it is very unpleasant to deal with.

The bigger the orange number gets, the more that'll happen.

RT @nic__carter
my quick reaction to bill maher's claim that bitcoin will warm the climate by 2ºc (it won't)

youtube.com/watch?v=3f7AWW119u

"Have fun staying poor" is the new "If you don't believe me or don't get it, I don't have time to try to convince you, sorry."

It gets so tiresome hearing people with no subject matter knowledge talk about how awful a thing is with such fervor.

So I met s client at a bar last night.

I was having a private conversation when the couple next to me felt it was important to inform me that Fauci was a satanic f*gg*t.

Dude at the other end felt that was his cue to explain how Trump would serve 3 terms.

Bonkers behavior.

I identify more with Bitcoin Maximalism than any other crypto philosophy, but many of these points are misleading or incorrect.
---
RT @NickGiambruno
Here are 7 reasons I am not optimistic about Ethereum’s long-term future.

#1. It is not immutable and can be censored. The developers can roll back transactions and change the rules whenever they want. They can also be pressured by others – such as governments.
twitter.com/NickGiambruno/stat

"The governance of the internet is unsustainable," said Chehade to us in 2014.

He then goes on to describe that what's required is a perfectly BFT, federated and decentralized internet.

Here we are 7 years later still fighting for decentralized blockchain DNS controls.

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I've produced thousands of interviews from behind the camera over the years, and conducted thousands more.

One of my very favorite interviews is with former ICANN CEO Fadi Chehade.

youtube.com/watch?v=3T3roXo82n

Do you ever watch 15 seconds of a movie on Tik Tok, then go stream the full movie and realize the best part of the film was the part you saw on Tik Tok and the context of the full movie only made it worse?

No? Umm, yeah, me neither.

Some NPR show host told me my opinions about NFTs are shit, and now I'm learning that I've been vastly overestimating general capability for NPR listeners to carry on a conversation reading through the thread.

Somehow I'm only getting alerted to about 5% of the tweets.🤷🤷

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I think I kinda like the new Twitter feature or bug or whatever it is where people start squabbling in your mentions and it just doesn't blow up your phone for all of them.

Honestly, I'm happy for Disaster Girl.

Star Wars Kid, let's get you an NFT as well.

If companies like Coinbase and Basecamp were anti-virtue signalling, you wouldn't know about it.

They are who they hate, to quote that guy from Basecamp.

RT @HughKarp
Financial Regulators

You exist to protect consumers where other people manage their money.

DeFi solves this in a different way. Users have full control.

Existing rules weren't built for DeFi, but the principles of regulation should remain.

Apply the principles, not the rules.

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