Crypto currency (IF banned from CA)

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mill said:
Yup. The carbon footprint of the city is terrible. Though there are a lot of participants proactively looking at this though. We’ve started to report client portfolio carbon footprint etc (so what this report does at a client level).

We’re also incredibly activist and sustainability factors are integrated into our process.

There is clearly a LONG way to go but it’s heading in the right direction and I can see a time when there will be a huge premium attached to the supply of capital to companies with terrible carbon emission profiles. The cost of capital is already higher for those companies. You are already seeing it.
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I have no reason to doubt what you are saying.

My only point is that people are very quick to bring up emissions due to BTC mining while ignoring every other source of emissions.
 

DuuuncanHadaPigeon said:
I have no reason to doubt what you are saying.

My only point is that people are very quick to bring up emissions due to BTC mining while ignoring every other source of emissions.
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I doesn’t make it acceptable does it. Personally try to lead as sustainable life as possible and my consumer choices reflect that. I don’t actively ignore harmful impacts my choices might be having on the premise that I might get rich.
 
JimmyJeffers said:
I doesn’t make it acceptable does it. Personally try to lead as sustainable life as possible and my consumer choices reflect that. I don’t actively ignore harmful impacts my choices might be having on the premise that I might get rich.
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As that article states banks are much worse for the environment than btc miners, so by your logic, if the choice is between a tracking fund offered by a bank or buying btc you should do your bit for the planet and buy btc.

Just to clarify my position, I think BTC is pretty terrible from a technical point of view and don't own any of it myself.
 
DuuuncanHadaPigeon said:
I have no reason to doubt what you are saying.

My only point is that people are very quick to bring up emissions due to BTC mining while ignoring every other source of emissions.
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I don’t think emissions in other areas are ignored though is what I’m saying. Sustainability is one of the most talked about topics in the industry (if not the most talked about topic).

it’s a fair cop to say that carbon emissions are a downside to Bitcoin especially. It needs to be addressed and factored into the discussion. You weight the risks associated and sustainability is a risk factor.

Using your article as an example, it’s about utility as much as return. Rightly or wrongly, right now the financial system serves a much bigger purpose that Bitcoin. It may contribute much more the Bitcoin, but on a relative basis, including the utility associated with what else is created by the carbon footprint, you can’t compare the two.

Bitcoin uses the processing power to create more Bitcoin and run the network. The financial services industry alone (excluded the companies that it works with which are included in the co2 figures) generates around 10% of the UK’s entire GDP.

just to use an analogy of what I’m saying:

a surgeon gets paid 100k a year and saves countless lives
Let’s say I get paid 50k a year for messing about with spreadsheets all day.

A surgeon ‘costs’ more but there are additional benefits to that cost, despite a bigger ‘footprint’.
 
mill said:
I don’t think emissions in other areas are ignored though is what I’m saying. Sustainability is one of the most talked about topics in the industry (if not the most talked about topic).

it’s a fair cop to say that carbon emissions are a downside to Bitcoin especially. It needs to be addressed and factored into the discussion. You weight the risks associated and sustainability is a risk factor.

Using your article as an example, it’s about utility as much as return. Rightly or wrongly, right now the financial system serves a much bigger purpose that Bitcoin. It may contribute much more the Bitcoin, but on a relative basis, including the utility associated with what else is created by the carbon footprint, you can’t compare the two.

Bitcoin uses the processing power to create more Bitcoin and run the network. The financial services industry alone (excluded the companies that it works with which are included in the co2 figures) generates around 10% of the UK’s entire GDP.

just to use an analogy of what I’m saying:

a surgeon gets paid 100k a year and saves countless lives
Let’s say I get paid 50k a year for messing about with spreadsheets all day.

A surgeon ‘costs’ more but there are additional benefits to that cost, despite a bigger ‘footprint’.
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ye, fair point, I pretty much agree with what you are saying.
 

I reckon making it a commodity has really hurt the industry, as its electronic and should have been equal to real money. Just my two cents.
 

mill said:
I think one of the issues atm is that people are undecided as to whether it should be a currency, and thus a replacement for fiat currency, or as an asset.

At the moment it’s way too volatile for it to be the former.
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There are very Stable Coins tagged to the Dollar. At the moment you can get over 7% interest on such Coins. Very stable whilst you get less than 1% on your £ in your Bank Account.
At present I'm getting anything from 77% to over 11% on some of my investments (Compound interest too)
 
jayonenote said:
There are very Stable Coins tagged to the Dollar. At the moment you can get over 7% interest on such Coins. Very stable whilst you get less than 1% on your £ in your Bank Account.
At present I'm getting anything from 77% to over 11% on some of my investments (Compound interest too)
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How do they maintain their peg?
 

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