Sweden's financial regulator just released an article in which the director-general concludes that if cryptocurrency mining via Proof-of-Work is allowed in Sweden, we'll run out of renewable energy and endanger our chances of meeting our Paris Agreement climate responsibilities.
He reached this conclusion by, according to my read, googling @DigiEconomist and @CambridgeAltFin stats by himself and the director-general of the Environmental Protection Agency. They now recommend that the EU starts an investigation to "ban Proof-of-Work mining".
They also conclude that there are other ways to mine cryptocurrency which wastes 99.95% less energy and maintains the *same* functionality.
Link to article: fi.se/sv/publicerat/…
Link to article: fi.se/sv/publicerat/…
I wonder if the Swedish financial regulator googles himself to conclusions in all complex areas of finance and sends those conclusions as recommendations to the EU.
To make matters worse, our central bank @riksbanken
released an even more dumbfounding statement 2 days ago in their 2021 Payments Report.
The report claims that "one bitcoin transaction produces as much CO2 emissions as one person's flight across the entire Europe".
released an even more dumbfounding statement 2 days ago in their 2021 Payments Report.
The report claims that "one bitcoin transaction produces as much CO2 emissions as one person's flight across the entire Europe".
Yay Ripple, I guess?
@riksbanken why didn't you announce that you hired this woman as your Research Assistant? Disclaimers like that should be put front and center, guys.
https://twitter.com/ercwl/status/1335881403423186944
I'm not going to participate in Sweden's cryptocurrency energy debate.
As our financial regulator has already concluded, enough energy is being wasted on useless tasks in Sweden.
As our financial regulator has already concluded, enough energy is being wasted on useless tasks in Sweden.
For my Swe friends who wants to understand where to begin to challenge the statements made by our authorities.
https://twitter.com/ercwl/status/1456728329306918919
In the spirit of not spending too much energy both @finansinsp and @riksbanken have released papers with massive amounts of Proof-of-no-Work behind them.
Thanks for saving energy when doing your research, and thereby saving the planet.
Thanks for saving energy when doing your research, and thereby saving the planet.
https://twitter.com/ercwl/status/1456742830894952453
Challenging the statements by the Swedish authorities is a thankless, endless job that I’ve been partly working on in vain for many years. My thesis now is that Sweden will revisit its stance on cryptocurrencies when enough other countries do, probably starting with the US.
Start with winning the fight in the US. Then we’ll have a chance here.
For example, medical cannabis was a death drug in Sweden for a long time, then the US changed its stance. Now it is socially acceptable to have cannabis-liberal views in most contexts, atleast medical ones.
For example, medical cannabis was a death drug in Sweden for a long time, then the US changed its stance. Now it is socially acceptable to have cannabis-liberal views in most contexts, atleast medical ones.
I look forward to the day I can be proud over being Swedish again. Today is not that day.
Or who knows. And why be proud of being a citizen anywhere anyway. Maybe let’s just go and live wherever fits us best and not pay to sustain slow-brained governments.
Or who knows. And why be proud of being a citizen anywhere anyway. Maybe let’s just go and live wherever fits us best and not pay to sustain slow-brained governments.
https://twitter.com/ercwl/status/1441378285821124612
I’m going back to tungsten twitter now
Brought to you by:
https://twitter.com/ercwl/status/1456903667597127684
Bitcoin in Sweden is now one minute to midnight on the Greta Thunberg clock
https://twitter.com/ercwl/status/1345065016421187589
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