Personal Finance

Bitcoin Cashback Card?

  • Last Updated:
  • Sep 4th, 2021 12:09 am
[OP]
Newbie
Aug 9, 2015
2 posts
2 upvotes
Burnaby, BC

Bitcoin Cashback Card?

Ok so I just got an email that Mogo is turfing the 2% bitcoin cash back in order to "save the planet". I get that there are people who want to offset carbon, but the whole reason I joined was for the 2% bitcoin.

Are there any other cards available to Canadians that give bitcoin cash back?

I'm down to try something else out. Currently using Scotia rewards, but I have lots of movies now... would rather have BTC.
7 replies
Sr. Member
User avatar
Feb 11, 2007
964 posts
770 upvotes
East
earlflormata wrote: Ok so I just got an email that Mogo is turfing the 2% bitcoin cash back in order to "save the planet". I get that there are people who want to offset carbon, but the whole reason I joined was for the 2% bitcoin.

Are there any other cards available to Canadians that give bitcoin cash back?

I'm down to try something else out. Currently using Scotia rewards, but I have lots of movies now... would rather have BTC.
Image

Bitcoin is mostly mined with renewable energy, don't believe the "mainstream" media.

As for Bitcoin/Crypto cashback cards, most people use Crypto.com including myself. There are different tiers to the card which can give you varrying % of rewards plus other bonuses like Prime, Netflix, Spotify, etc. have used them for several years now, own a Obsidian card and love the 8% cashback + perks.
.
.
.
.
Bitcoin & Cryptos One Way Ticket Out of Inflation Hell 💡 ❗ Bitcoin OG ❗ Financially Free ❗ Celsius up to 17% yield on your Cryptos/Stablecoins ❗ CDC Obsidian Card 8% Cashback On Purchases
Deal Addict
Jan 2, 2015
1632 posts
637 upvotes
Toronto, ON
jcdogg wrote: Bitcoin is mostly mined with renewable energy, don't believe the "mainstream" media.
That is a statement that doesn't make much sense. Unless you've got solar panels or wind generators on your property, you are using whatever power sources are generally available. In Ontario that's mostly hydro power and nuclear power. Most cryptocurrency is mined in China, and they get most of their energy from coal. That is changing, but at present coal forms more than 65% of China's generated power. About 27% of China's power is generated from renewable sources.

https://www.statista.com/statistics/120 ... y-country/
https://en.wikipedia.org/wiki/Electrici ... r_in_China

Electricity is cheap in China. Many countries that are interested in trading cryptocurrency does very little mining. In Canada 60% of our energy comes from hydro power, but Canada plays little role in mining cryptocurrency.

Furthermore "don't believe the 'mainstream' media" is a politically provocative statement typically used by conspiracy theorists. You would have been better off locating miners who specifically use renewable energy sources.
Sr. Member
User avatar
Feb 11, 2007
964 posts
770 upvotes
East
FoFai2015 wrote: That is a statement that doesn't make much sense. Unless you've got solar panels or wind generators on your property, you are using whatever power sources are generally available. In Ontario that's mostly hydro power and nuclear power. Most cryptocurrency is mined in China, and they get most of their energy from coal. That is changing, but at present coal forms more than 65% of China's generated power. About 27% of China's power is generated from renewable sources.

https://www.statista.com/statistics/120 ... y-country/
https://en.wikipedia.org/wiki/Electrici ... r_in_China

Electricity is cheap in China. Many countries that are interested in trading cryptocurrency does very little mining. In Canada 60% of our energy comes from hydro power, but Canada plays little role in mining cryptocurrency.

Furthermore "don't believe the 'mainstream' media" is a politically provocative statement typically used by conspiracy theorists. You would have been better off locating miners who specifically use renewable energy sources.
Nahh...

Who do you think is propagating these energy FUD? Central banks, IMF, Governments, who are afraid that this revolution is about to disrupt them.

Do more research outside of reading mainstream headlines, bud.

Heres a few:





Jack Dorsey and Elon Musk agree on bitcoin's green credentials
https://www.bbc.com/news/technology-56844813

Use of green energy in bitcoin mining jumped to 56% in June quarter: Report
https://www.livemint.com/market/cryptoc ... 65534.html
.
.
.
.
Bitcoin & Cryptos One Way Ticket Out of Inflation Hell 💡 ❗ Bitcoin OG ❗ Financially Free ❗ Celsius up to 17% yield on your Cryptos/Stablecoins ❗ CDC Obsidian Card 8% Cashback On Purchases
Deal Addict
Jan 2, 2015
1632 posts
637 upvotes
Toronto, ON
jcdogg wrote: Nahh...

Who do you think is propagating these energy FUD? Central banks, IMF, Governments, who are afraid that this revolution is about to disrupt them.
None of the info I presented came from headlines. Furthermore that stuff about FUD is just conspiracy stuff.
Use of green energy in bitcoin mining jumped to 56% in June quarter: Report
https://www.livemint.com/market/cryptoc ... 65534.html
Of the links you provided, this is the only one that is relevant. I don't care about Elon Musk, a guy who makes money from cryptocurrency, says. He's got an obvious bias.
The global bitcoin mining industry’s sustainable electricity mix more than doubled to around 56% during the June quarter, making it one of the most sustainable industries worldwide, according to a report by Bitcoin Mining Council (BMC). The share of green energy in bitcoin mining in the preceding quarter was 36.8%
Now that is some good info, but I note that the problem wasn't addressed until three months ago. At least I prompted you to present some actual info instead of just spouting conspiracy nonsense.
Sr. Member
User avatar
Feb 11, 2007
964 posts
770 upvotes
East
FoFai2015 wrote: None of the info I presented came from headlines. Furthermore that stuff about FUD is just conspiracy stuff.



Of the links you provided, this is the only one that is relevant. I don't care about Elon Musk, a guy who makes money from cryptocurrency, says. He's got an obvious bias.



Now that is some good info, but I note that the problem wasn't addressed until three months ago. At least I prompted you to present some actual info instead of just spouting conspiracy nonsense.
.
.
.
.
Bitcoin & Cryptos One Way Ticket Out of Inflation Hell 💡 ❗ Bitcoin OG ❗ Financially Free ❗ Celsius up to 17% yield on your Cryptos/Stablecoins ❗ CDC Obsidian Card 8% Cashback On Purchases
Deal Addict
Jan 2, 2015
1632 posts
637 upvotes
Toronto, ON
Oh no, I've been trolled. That's ... never happened to me before.
Deal Addict
Jul 11, 2007
1551 posts
643 upvotes
FoFai2015 wrote: None of the info I presented came from headlines. Furthermore that stuff about FUD is just conspiracy stuff.



Of the links you provided, this is the only one that is relevant. I don't care about Elon Musk, a guy who makes money from cryptocurrency, says. He's got an obvious bias.



Now that is some good info, but I note that the problem wasn't addressed until three months ago. At least I prompted you to present some actual info instead of just spouting conspiracy nonsense.
The "problem" solved itself with miners being forced out of China. You must not have been paying attention at all the last few months.

Over time, it wasn't going to be an issue either. Cheap energy means reduced cost for Bitcoin Miners and the cheapest energy is renewable, so the success of Bitcoin incentivizes building of better infrastructure of renewable energy for miners to be able to reduces costs and be more profitable.

Top