Tesla (Loser) vs Bitcoin (Winner) Race

I don’t own any car, which saves me from the question if I should sell my Tesla for Bitcoin (still possible).

But one of the things car owners like is their ability to accelerate fast. That is one thing Tesla cars are good at, reaching 60 mph in just 2.4 seconds, outperforming every supercar available today.

But can Tesla beat Bitcoin in a fair race to 100% renewable? How fast can they accelerate in that race?

First, let’s have a look at the Bitcoin side. The plan is to get to 100% renewable until 2025, as spelled out in the Crypto Climate Accord. And one of the goals is to get better reporting tools. You can’t have 100% renewable if there is no reliable method of verifying.

Looking at the Tesla side of the race, we hear that they just announced that their supercharger network will be 100% renewable this year. Sounds good, until you realize that they made the same announcement in 2012, 2013, 2017 and 2019.

Why THE FUCK has this not happened a long time ago?

This is also much less impressive because most charging occurs at home or at work and the whole supercharger network only delivered about 72 Gwh a month in 2019.

So even if the supercharger network does go 100% renewable, that does not mean much until costumers use renewable energy at home and at work as well.

The answer to that question obviously will be difficult and depend on the location of the costumer in question. There is not much Tesla can do to make individual car owners use renewable energy.

In contrast, Bitcoin mining is done by large scale business. And it is done in competition with other miners. That leads to looking for cheap energy, which may be located anywhere on the planet. These factors mean that mining will use renewable energy because of market forces alone, even if there was no Crypto Climate Accord.

So while Tesla may come up on top in the meaningless metric of accelerating a car in less seconds to a more dangerous speed, it will very likely lose the race to 100% renewable energy powering those cars against Bitcoin mining.

But I for one will be happy to still see them trying hard to win.

Published by kflenz

Professor at Aoyama Gakuin University, Tokyo. Author of Lenz Blog (since 2003, lenzblog.com).

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