TD₿: Bitcoin's Climate Change Problem is Debunked (a video) by Students for Liberty
TL;DR Most environmental critiques fail to understand how mining works and why Bitcoin is worth every watt.
Hey Bitcoiners,
In late April, 22 members of Congress wrote a letter to the Environmental Protection Agency (EPA) citing their environmental concerns around Bitcoin mining. Unfortunately, the letter was filled with common misconceptions and contained misinformation about mining and Bitcoin in general.
The poorly argued letter resulted in a written response from the Bitcoin mining community in which the contents of the original letter were thoroughly debunked point-by-point.
Two common issues I frequently see with environmental critiques of Bitcoin, such as this recent EPA letter, are:
1.) They fail to understand how Bitcoin mining actually works under the hood
For example, the EPA letter cites concerns about Bitcoin mining facilities “polluting communities,” which fails to understand that mining facilities are just datacenters. Any pollution that occurs comes from the power generation facilities upstream, not the datacenters themselves mining bitcoin.
2.) They fail to consider the benefits and utility that Bitcoin brings to the world
Ultimately, this is the greatest blindspot these critics have — they fail to understand why Bitcoin is so important and how it is an innovative technology that will drive our energy industry forward. Not to mention, Bitcoin provides the world with sound money that can be teleported at the speed of light.
This video from Students for Liberty makes a lot of great points about why Bitcoin’s energy usage is well worth it in order to bring sound money to the world (01/11/2022).
Videos like this are important to make and share widely in order to combat misinformation around Bitcoin mining so that politicians and agencies like the EPA do not fight against it without fully understanding it.
Tick tock next block,
Cory Klippsten
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Quote of the Day
“Everybody thought we were crazy when we talked about how bitcoin mining was going to revolutionize energy production. When we said BTC’s game theory would evolve the electric grid. The ones who end up changing the world are the ones crazy enough to believe they can.” - Adam O, Business Management Developer at Upstream Data
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